Truist Financial Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $35.00

Vornado Realty Trust (NYSE:VNO) had its price target reduced by analysts at Truist Financial from $39.00 to $35.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective indicates a potential upside of 0.27% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Barclays lifted their price target on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Mizuho lifted their price target on Vornado Realty Trust from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Citigroup upped their target price on shares of Vornado Realty Trust from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. BMO Capital Markets increased their price target on Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Finally, UBS Group lowered shares of Vornado Realty Trust to an “underweight” rating in a research report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Vornado Realty Trust has a consensus rating of “Hold” and a consensus price target of $39.55.

Vornado Realty Trust Stock Performance

Shares of VNO opened at $34.91 on Monday. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 5.24. The stock has a 50-day moving average of $38.19 and a 200-day moving average of $33.92. The company has a market cap of $6.52 billion, a PE ratio of 1,746.12, a P/E/G ratio of 1.57 and a beta of 1.53. Vornado Realty Trust has a one year low of $24.57 and a one year high of $42.17.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.49). The firm had revenue of $462.24 million for the quarter, compared to analyst estimates of $454.46 million. Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. On average, equities research analysts predict that Vornado Realty Trust will post 2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Vornado Realty Trust

Large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust grew its stake in Vornado Realty Trust by 67.5% during the second quarter. Parkside Financial Bank & Trust now owns 804 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 324 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Vornado Realty Trust by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 38,500 shares of the real estate investment trust’s stock valued at $1,001,000 after purchasing an additional 400 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Vornado Realty Trust by 1.9% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 32,833 shares of the real estate investment trust’s stock valued at $853,000 after purchasing an additional 600 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Vornado Realty Trust by 6.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,533 shares of the real estate investment trust’s stock valued at $351,000 after purchasing an additional 680 shares in the last quarter. Finally, Arjuna Capital increased its holdings in shares of Vornado Realty Trust by 1.0% in the first quarter. Arjuna Capital now owns 67,703 shares of the real estate investment trust’s stock worth $1,760,000 after purchasing an additional 686 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops office, retail and mixed-use properties. The company’s portfolio is concentrated in New York City, particularly in Manhattan, where it operates prominent office buildings and retail destinations in major commercial districts.

Vornado’s activities include leasing office space to businesses, operating retail properties, managing building services and pursuing redevelopment opportunities.