Vornado Realty Trust (NYSE:VNO) Rating Raised to Neutral at Piper Sandler

Vornado Realty Trust (NYSE:VNO – Get Free Report) was upgraded by equities research analysts at Piper Sandler from an “underweight” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a $30.00 target price on the real estate investment trust’s stock, up from their previous price target of $22.00. Piper Sandler’s target price would indicate a potential downside of 3.19% from the company’s current price.

Several other equities analysts have also recently commented on VNO. StockNews.com raised Vornado Realty Trust to a “sell” rating in a report on Saturday, July 20th. Compass Point boosted their price target on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday. Evercore ISI boosted their price objective on Vornado Realty Trust from $24.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday. BMO Capital Markets decreased their price target on shares of Vornado Realty Trust from $31.00 to $29.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 12th. Finally, Barclays cut their price objective on shares of Vornado Realty Trust from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Friday, May 24th . Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.20, according to MarketBeat.

Read our latest report on VNO

Vornado Realty Trust stock fell 1.7%

Shares of Vornado Realty Trust stock traded down $0.53 during trading on Thursday, reaching $30.99. 4,268,705 shares of the company traded hands, compared to its average volume of 2,052,238. Vornado Realty Trust has a 52-week low of $18.36 and a 52-week high of $32.21. The company has a current ratio of 5.21, a quick ratio of 4.97, and a debt-to-equity ratio of 1.78. The company has a market cap of $5.90 billion, a P/E ratio of 206.60 and a beta of 1.64. The company’s 50-day moving average is $27.13 and its 200-day moving average is $26.49.

Vornado Realty Trust (NYSE:VNO – Get Your Free Report ) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.37). Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The business had revenue of $450.27 million during the quarter, compared to analysts’ expectations of $439.28 million. During the same period in the previous year, the firm posted EPS of $0.72. The company’s revenue for the quarter was down 4.7% year-over-year. analysts predict that Vornado Realty Trust will post 2.08 earnings per share for the current year.

Insider buying and selling

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $28.19, for a total value of $56,380.00. Following the completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 8.14% of shares are owned by company insiders.

Institutional investors weigh in on Vornado Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC bought a new position in Vornado Realty Trust in the 4th quarter valued at about $40,000. Fidelis Capital Partners LLC purchased a new stake in shares of Vornado Realty Trust in the first quarter valued at approximately $55,000. Principal Securities Inc. bought a new position in shares of Vornado Realty Trust in the fourth quarter valued at about $58,000. EverSource Wealth Advisors LLC boosted its stake in Vornado Realty Trust by 61.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 1,018 shares during the period. Finally, GAMMA Investing LLC bought a new stake in Vornado Realty Trust in the 4th quarter valued at $116,000. Institutional investors own 90.02% of the company’s shares.

About Vornado Realty Trust

(Get a free report)

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of prime New York office and retail assets and the developer of the new PENN DISTRICT. Although focused in New York, Vornado also has major assets in both Chicago and San Francisco. Vornado is the 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.

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