Vornado Realty Trust (NYSE:VNO) Sets New 52-Week High Following Analyst Upgrade

Posted by James Conley on Nov 6th, 2024

Vornado Realty Trust (NYSE:VNO – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Wednesday after Compass Point raised their price target on the stock from $32.00 to $40.00. Compass Point currently has a neutral rating on the stock. Vornado Realty Trust traded as high as $44.07 and last traded at $43.14, with a volume of 360451 shares traded. The stock had previously closed at $42.75.

Other equities research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. BMO Capital Markets raised shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Barclays increased their target price on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Scotiabank increased their target price on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Piper Sandler restated a “neutral” rating and set a $44.00 price target (up from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $34.07.

View Our Latest Stock Analysis on Vornado Realty Trust

Institutional Investors Weigh In On Vornado Realty Trust

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in Vornado Realty Trust by 331.0% in the 3rd quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 844 shares in the last quarter. Assetmark Inc. raised its holdings in Vornado Realty Trust by 122.2% during the third quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 661 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vornado Realty Trust in the 2nd quarter valued at $48,000. Fidelis Capital Partners LLC purchased a new position in shares of Vornado Realty Trust in the 1st quarter valued at $55,000. Finally, EverSource Wealth Advisors LLC raised its stake in Vornado Realty Trust by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 1,018 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Trading Up 1.9 %

The business’s 50-day moving average is $38.90 and its two-hundred day moving average is $31.31. The stock has a market capitalization of $8.30 billion, a PE ratio of -147.14 and a beta of 1.64. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78.

Vornado Realty Trust (NYSE:VNO – Get Free Report) last announced its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). The firm had revenue of $443.26 million during the quarter, compared to analyst estimates of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.69%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. On average, analysts anticipate that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.