Vornado Realty Trust (NYSE:VNO) Price Target Raised to $42.00

Vornado Realty Trust (NYSE:VNO) had its target price boosted by Piper Sandler from $28.00 to $42.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on VNO. Citigroup upped their price objective on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Mizuho boosted their target price on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price target on Vornado Realty Trust from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Barclays upped their price target on Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Truist Financial lifted their price objective on Vornado Realty Trust from $28.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.17.

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock opened at $38.99 on Tuesday. The business has a 50 day simple moving average of $36.89 and a two-hundred day simple moving average of $32.02. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37. The stock has a market capitalization of $7.33 billion, a P/E ratio of 10.71, a PEG ratio of 1.94 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The firm had revenue of $459.11 million during the quarter, compared to analysts’ expectations of $431.71 million. Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 EPS. As a group, analysts predict that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

Vornado Realty Trust declared that its board has authorized a stock repurchase plan on Wednesday, April 29th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Vornado Realty Trust

In other news, Director Michael D. Fascitelli sold 133,350 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the completion of the sale, the director owned 475,161 shares in the company, valued at $17,400,395.82. This trade represents a 21.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Russell B. Wight, Jr. purchased 4,000 shares of Vornado Realty Trust stock in a transaction dated Monday, June 8th. The shares were purchased at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the transaction, the director owned 13,000 shares in the company, valued at approximately $220,220. This trade represents a 44.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new stake in shares of Vornado Realty Trust during the 3rd quarter worth about $28,000. Advisory Services Network LLC acquired a new position in Vornado Realty Trust in the third quarter valued at about $33,000. Farmers & Merchants Investments Inc. boosted its stake in Vornado Realty Trust by 512.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 718 shares during the period. Employees Retirement System of Texas purchased a new position in Vornado Realty Trust during the fourth quarter worth about $36,000. Finally, BOKF NA boosted its stake in Vornado Realty Trust by 1,257.1% during the third quarter. BOKF NA now owns 1,140 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,056 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado Realty Trust is a self‐administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long‐term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street‐level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.