Evercore ISI Upgrades Vornado Realty Trust (NYSE:VNO) to “Outperform”

Evercore ISI upgraded shares of Vornado Realty Trust (NYSE:VNO) from an underperform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has $38.00 target price on the real estate investment trust’s stock, up from their previous target price of $32.00.

Several other analysts also recently weighed in on VNO. Piper Sandler upgraded Vornado Realty Trust from an underweight rating to a neutral rating and upped their price target for the stock from $22.00 to $30.00 in a research note on Thursday, August 8th. Compass Point upped their price target on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. StockNews.com upgraded Vornado Realty Trust to a sell rating in a research note on Saturday, July 20th. BMO Capital Markets upgraded Vornado Realty Trust from a market perform rating to an outperform rating and upped their price target for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Finally, Barclays upped their price target on Vornado Realty Trust from $21.00 to $27.00 and gave the stock an underweight rating in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $29.09.

Vornado Realty Trust Stock Up 2.0 %

VNO stock opened at $34.65 on Tuesday. Vornado Realty Trust has a fifty-two week low of $18.36 and a fifty-two week high of $35.26. The business’s 50 day moving average price is $28.76 and its two-hundred day moving average price is $26.83. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 231.02 and a beta of 1.64.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The firm had revenue of $450.27 million for the quarter, compared to analysts’ expectations of $439.28 million. During the same quarter last year, the company posted $0.72 EPS. The firm’s revenue was down 4.7% on a year-over-year basis. As a group, analysts forecast that Vornado Realty Trust will post 2.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Vornado Realty Trust

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $28.19, for a total transaction of $56,380.00. Following the sale, the director now directly owns 3,034 shares in the company, valued at approximately $85,528.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.14% of the company’s stock.

Hedge Funds Weigh In On Vornado Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Vornado Realty Trust by 98.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,972 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 2,465 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of Vornado Realty Trust by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock valued at $51,875,000 after buying an additional 612,765 shares during the period. APG Asset Management US Inc. bought a new position in shares of Vornado Realty Trust during the 2nd quarter valued at $4,462,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vornado Realty Trust during the 2nd quarter valued at $48,000. Finally, Masters Capital Management LLC lifted its holdings in shares of Vornado Realty Trust by 138.1% during the 2nd quarter. Masters Capital Management LLC now owns 500,000 shares of the real estate investment trust’s stock valued at $13,145,000 after buying an additional 290,000 shares during the period. 90.02% of the stock is 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.