Truist Financial Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $29.00

Vornado Realty Trust (NYSE:VNO) had its price objective lowered by analysts at Truist Financial from $34.00 to $29.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective suggests a potential upside of 10.94% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vornado Realty Trust in a research note on Monday, December 29th. Barclays cut their price target on Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Evercore decreased their price objective on Vornado Realty Trust from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, December 15th. JPMorgan Chase & Co. raised Vornado Realty Trust from an “underweight” rating to a “neutral” rating and set a $41.00 target price on the stock in a research report on Monday, November 24th. Finally, Wall Street Zen cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $37.20.

Vornado Realty Trust Stock Up 2.9%

NYSE VNO traded up $0.74 during trading hours on Tuesday, reaching $26.14. 235,235 shares of the company’s stock were exchanged, compared to its average volume of 1,915,574. The company has a debt-to-equity ratio of 1.44, a quick ratio of 5.25 and a current ratio of 5.25. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 6.24, a price-to-earnings-growth ratio of 1.38 and a beta of 1.53. The company’s 50-day moving average is $30.38 and its two-hundred day moving average is $34.95. Vornado Realty Trust has a one year low of $25.28 and a one year high of $43.37.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, February 9th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Vornado Realty Trust had a net margin of 49.99% and a return on equity of 18.64%. The company had revenue of $453.71 million during the quarter, compared to the consensus estimate of $440.23 million. During the same period in the previous year, the firm posted $0.61 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Vornado Realty Trust

A number of large investors have recently modified their holdings of VNO. Danske Bank A S acquired a new stake in shares of Vornado Realty Trust in the third quarter valued at about $28,000. Farmers & Merchants Investments Inc. boosted its position in Vornado Realty Trust by 512.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 718 shares during the last quarter. Advisory Services Network LLC bought a new position in Vornado Realty Trust in the third quarter valued at approximately $33,000. Employees Retirement System of Texas bought a new position in Vornado Realty Trust in the fourth quarter valued at approximately $36,000. Finally, Westside Investment Management Inc. increased its position in shares of Vornado Realty Trust by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 886 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 443 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a self‐administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long‐term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street‐level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.