Vornado Realty Trust (NYSE:VNO) Stock Gets Price Target Reduction from Piper Sandler

Vornado Realty Trust (NYSE:VNO) had its price objective decreased by Piper Sandler from $44.00 to $37.00 in a research note released on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

VNO has been the topic of several other research reports. Mizuho boosted 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. JPMorgan Chase & Co. increased their price objective on Vornado Realty Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, September 15th. Scotiabank reduced their price objective on Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, September 17th. UBS Group downgraded Vornado Realty Trust to an “underweight” rating in a report on Wednesday, July 22nd. Finally, Truist Financial decreased their target price on Vornado Realty Trust from $39.00 to $35.00 and set a “hold” rating for the company in a report on Monday, September 21st. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Vornado Realty Trust presently has an average rating of “Hold” and an average target price of $38.91.

Vornado Realty Trust Trading Down 4.5%

NYSE:VNO opened at $32.31 on Monday. The company has a market capitalization of $6.03 billion, a P/E ratio of 1,616.21, a PEG ratio of 1.59 and a beta of 1.58. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.56. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $41.60. The firm has a fifty day simple moving average of $36.09 and a 200-day simple moving average of $34.87.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.49). The firm had revenue of $462.24 million during the quarter, compared to analyst estimates of $454.46 million. Vornado Realty Trust had a net margin of 3.71% and a return on equity of 1.37%. Vornado Realty Trust’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share. On average, equities research analysts anticipate that Vornado Realty Trust will post 2.47 earnings per share for the current year.

Insider Buying and Selling at Vornado Realty Trust

In other news, EVP Haim Chera sold 90,000 shares of the stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $34.01, for a total value of $3,060,900.00. Following the sale, the executive vice president owned 110,000 shares in the company, valued at $3,741,100. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Vornado Realty Trust

Several hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System acquired a new stake in shares of Vornado Realty Trust during the 1st quarter worth approximately $1,206,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Vornado Realty Trust during the 2nd quarter valued at approximately $8,204,000. Wellington Management Group LLP lifted its stake in shares of Vornado Realty Trust by 440.6% in the 2nd quarter. Wellington Management Group LLP now owns 598,395 shares of the real estate investment trust’s stock valued at $23,517,000 after purchasing an additional 487,710 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Vornado Realty Trust in the 2nd quarter valued at $10,283,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Vornado Realty Trust by 65.9% in the 2nd quarter. Squarepoint Ops LLC now owns 133,928 shares of the real estate investment trust’s stock valued at $5,263,000 after purchasing an additional 53,208 shares during the period. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust (NYSE:VNO) is a real estate investment trust that owns, manages and develops commercial properties, with a primary focus on office and retail assets in the New York metropolitan area. The company’s portfolio includes office towers, retail properties and mixed-use developments in prominent locations throughout Manhattan.

Vornado is particularly active in the Penn District, a large-scale redevelopment area surrounding Pennsylvania Station in Midtown Manhattan. Its properties serve a range of tenants, including businesses, retailers, restaurants and other commercial occupants.