Vornado Realty Trust (NYSE:VNO) PT Raised to $23.75 at The Goldman Sachs Group

Vornado Realty Trust (NYSE:VNO) had its target price boosted by analysts at The Goldman Sachs Group from $21.50 to $23.75 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 33.40% from the company’s current price.

VNO has been the topic of a number of other research reports. Scotiabank boosted their price target on shares of Vornado Realty Trust from $23.00 to $33.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Evercore ISI upped their price objective on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Compass Point increased their price target on shares of Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Bank of America increased their price objective on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Finally, Barclays increased their target price on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.43.

Vornado Realty Trust Stock Performance

Shares of NYSE:VNO traded up $1.53 during trading on Thursday, reaching $35.66. 1,368,429 shares of the company’s stock traded hands, compared to its average volume of 2,074,977. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21. Vornado Realty Trust has a 12 month low of $18.36 and a 12 month high of $35.82. The company has a 50 day moving average of $30.71 and a 200-day moving average of $27.54. The stock has a market capitalization of $6.79 billion, a P/E ratio of 237.73 and a beta of 1.65.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). The firm had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. On average, equities analysts expect that Vornado Realty Trust will post 2.16 EPS for the current year.

Insider Transactions at Vornado Realty Trust

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the firm’s stock in a transaction dated 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 owns 3,034 shares in the company, valued at $85,528.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.14% of the company’s stock.

Institutional Trading of Vornado Realty Trust

Several large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in Vornado Realty Trust during the 2nd quarter valued at approximately $212,000. Ariadne Wealth Management LP purchased a new position in shares of Vornado Realty Trust during the second quarter valued at approximately $220,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Vornado Realty Trust by 98.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,972 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 2,465 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in shares of Vornado Realty Trust by 45.0% during the second 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 purchasing an additional 612,765 shares during the last quarter. Finally, APG Asset Management US Inc. purchased a new position in shares of Vornado Realty Trust during the second quarter valued at approximately $4,462,000. 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.