Citigroup Issues Positive Forecast for Vornado Realty Trust (NYSE:VNO) Stock Price

Vornado Realty Trust (NYSE:VNO) had its price target raised by equities research analysts at Citigroup from $32.00 to $34.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price target would suggest a potential upside of 5.76% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Barclays dropped their price target on shares of Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Piper Sandler dropped their price target on shares of Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Morgan Stanley dropped their price target on shares of Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Wall Street Zen downgraded shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, Mizuho dropped their price target on shares of 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. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.09.

Vornado Realty Trust Trading Up 0.3%

Vornado Realty Trust stock traded up $0.11 during trading on Friday, hitting $32.15. The company had a trading volume of 1,837,954 shares, compared to its average volume of 2,044,998. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $43.37. The company has a current ratio of 6.14, a quick ratio of 5.25 and a debt-to-equity ratio of 1.54. The company’s 50 day simple moving average is $27.51 and its 200-day simple moving average is $31.70. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 1.72 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The business had revenue of $459.11 million during the quarter, compared to analyst estimates of $431.72 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. As a group, analysts expect that Vornado Realty Trust will post 2.33 EPS for the current fiscal year.

Vornado Realty Trust declared that its Board of Directors has approved a share repurchase program on Wednesday, April 29th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Vornado Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Vornado Realty Trust by 11.1% during the first quarter. PNC Financial Services Group Inc. now owns 12,412 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 1,242 shares in the last quarter. Commonwealth Financial Services LLC acquired a new position in shares of Vornado Realty Trust during the first quarter worth $241,000. Dimensional Fund Advisors LP grew its stake in shares of Vornado Realty Trust by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,514,173 shares of the real estate investment trust’s stock worth $65,340,000 after purchasing an additional 13,017 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Vornado Realty Trust by 22.9% during the first quarter. Parallel Advisors LLC now owns 11,232 shares of the real estate investment trust’s stock worth $292,000 after purchasing an additional 2,090 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Vornado Realty Trust by 0.4% during the first quarter. Swiss National Bank now owns 323,017 shares of the real estate investment trust’s stock worth $8,395,000 after purchasing an additional 1,200 shares in 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.