Vornado Realty Trust (NYSE:VNO) Price Target Cut to $32.00 by Analysts at Scotiabank

Vornado Realty Trust (NYSE:VNO) had its price target reduced by equities research analysts at Scotiabank from $36.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 17.18% from the company’s current price.

VNO has been the subject of a number of other research reports. Barclays cut their price objective on shares of Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating for the company in a report on Thursday. Mizuho cut their price target on Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. JPMorgan Chase & Co. raised Vornado Realty Trust from an “underweight” rating to a “neutral” rating and set a $41.00 price target on the stock in a research report on Monday, November 24th. Wall Street Zen lowered Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, Truist Financial dropped their price objective on Vornado Realty Trust from $40.00 to $36.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.00.

Vornado Realty Trust Stock Performance

NYSE:VNO traded down $0.27 during mid-day trading on Monday, hitting $27.31. 909,341 shares of the stock were exchanged, compared to its average volume of 1,889,011. The firm’s 50-day simple moving average is $31.82 and its 200 day simple moving average is $35.75. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 6.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.53. Vornado Realty Trust has a fifty-two week low of $26.83 and a fifty-two week high of $43.37. The company has a debt-to-equity ratio of 1.44, a quick ratio of 5.25 and a current ratio of 5.25.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, February 9th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). Vornado Realty Trust had a return on equity of 18.64% and a net margin of 49.99%.The firm had revenue of $453.71 million for the quarter, compared to the consensus estimate of $440.23 million. During the same quarter in the previous year, the business earned $0.61 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. As a group, equities analysts anticipate that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Vornado Realty Trust

Several hedge funds have recently modified their holdings of VNO. Danske Bank A S acquired a new position in Vornado Realty Trust in the 3rd quarter valued at approximately $28,000. Farmers & Merchants Investments Inc. grew its stake in shares of Vornado Realty Trust by 512.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 718 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Vornado Realty Trust in the third quarter valued at $33,000. Employees Retirement System of Texas acquired a new stake in Vornado Realty Trust in the fourth quarter valued at $36,000. Finally, Westside Investment Management Inc. raised its position in Vornado Realty Trust by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 886 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 443 shares during the last quarter. Institutional investors and hedge funds 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.