Zacks Research Comments on Vornado Realty Trust’s FY2024 Earnings (NYSE:VNO)

Vornado Realty Trust (NYSE:VNO) – Stock analysts at Zacks Research dropped their FY2024 EPS estimates for Vornado Realty Trust in a note issued to investors on Wednesday, June 12th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will earn $2.11 per share for the year, down from their prior estimate of $2.14. The consensus estimate for Vornado Realty Trust’s current full-year earnings is $2.11 per share.

VNO has been the topic of a number of other research reports. Barclays cut their price target on shares of Vornado Realty Trust from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Friday, May 24th. Compass Point cut their price target on shares of Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Morgan Stanley upgraded shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Scotiabank dropped their target price on shares of Vornado Realty Trust from $24.00 to $23.00 and set a “sector perform” rating on the stock in a report on Thursday, May 16th. Finally, Piper Sandler dropped their target price on shares of Vornado Realty Trust from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, May 13th. Six equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Vornado Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $24.27.

Vornado Realty Trust Trading Up 0.1 %

NYSE:VNO opened at $25.43 on Friday. The company’s 50 day moving average price is $25.32 and its 200-day moving average price is $26.54. Vornado Realty Trust has a 52 week low of $14.46 and a 52 week high of $32.21. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.81. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 169.53 and a beta of 1.59.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Vornado Realty Trust by 0.5% in the third quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock worth $554,726,000 after acquiring an additional 116,504 shares during the period. Norges Bank bought a new position in Vornado Realty Trust in the fourth quarter worth approximately $489,922,000. Putnam Investments LLC raised its position in Vornado Realty Trust by 3.0% in the fourth quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust’s stock worth $281,897,000 after acquiring an additional 288,952 shares during the period. Price T Rowe Associates Inc. MD raised its position in Vornado Realty Trust by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,196,145 shares of the real estate investment trust’s stock worth $178,264,000 after acquiring an additional 44,147 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new position in Vornado Realty Trust in the third quarter worth approximately $132,326,000. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.