Vornado Realty Trust (NYSE:VNO) PT Raised to $21.50

Vornado Realty Trust (NYSE:VNO) had its price objective hoisted by The Goldman Sachs Group from $19.00 to $21.50 in a research report released on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the real estate investment trust’s stock.

A number of other brokerages also recently commented on VNO. StockNews.com raised shares of Vornado Realty Trust to a sell rating in a research note on Saturday, July 20th. Scotiabank reduced 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 research note on Thursday, May 16th. BMO Capital Markets upgraded shares of Vornado Realty Trust from a market perform rating to an outperform rating and lifted their price target for the company from $29.00 to $40.00 in a research report on Thursday, August 8th. Barclays lifted their price target on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the company an underweight rating in a research report on Wednesday, August 14th. Finally, Evercore ISI upgraded shares of Vornado Realty Trust from an underperform rating to an outperform rating and lifted their price target for the company from $32.00 to $38.00 in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $29.32.

Vornado Realty Trust Stock Performance

VNO opened at $33.97 on Tuesday. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 226.48 and a beta of 1.64. Vornado Realty Trust has a 52-week low of $18.36 and a 52-week high of $35.26. The firm’s fifty day simple moving average is $29.42 and its two-hundred day simple moving average is $27.06.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.37). The business had revenue of $450.27 million during the quarter, compared to analysts’ expectations of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Equities analysts anticipate that Vornado Realty Trust will post 2.13 earnings per share for the current fiscal year.

Insider Transactions at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total value of $56,380.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at approximately $85,528.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.14% of the company’s stock.

Institutional Trading of Vornado Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pinebridge Investments L.P. acquired a new position in shares of Vornado Realty Trust during the 4th quarter worth $2,320,000. Waterloo Capital L.P. acquired a new stake in Vornado Realty Trust in the 4th quarter valued at about $2,410,000. Sei Investments Co. lifted its holdings in Vornado Realty Trust by 5.7% in the 1st quarter. Sei Investments Co. now owns 469,262 shares of the real estate investment trust’s stock valued at $13,501,000 after purchasing an additional 25,374 shares in the last quarter. National Bank of Canada FI lifted its holdings in Vornado Realty Trust by 5.6% in the 4th quarter. National Bank of Canada FI now owns 850,000 shares of the real estate investment trust’s stock valued at $24,395,000 after purchasing an additional 44,700 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in Vornado Realty Trust by 14.9% in the 4th quarter. Cibc World Markets Corp now owns 413,568 shares of the real estate investment trust’s stock valued at $11,683,000 after purchasing an additional 53,568 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

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.