Vornado Realty Trust (NYSE:VNO) Given New $29.00 Price Target at Truist Financial

Vornado Realty Trust (NYSE:VNO) had its target price lowered by Truist Financial from $34.00 to $29.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on VNO. Wall Street Zen downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Barclays reduced their price objective on Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. Scotiabank lowered their target price on shares of Vornado Realty Trust from $36.00 to $32.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Piper Sandler dropped their target price on shares of Vornado Realty Trust from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. upgraded shares of 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. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Vornado Realty Trust presently has an average rating of “Hold” and a consensus price target of $37.20.

Vornado Realty Trust Price Performance

VNO opened at $26.08 on Tuesday. The company has a market capitalization of $4.97 billion, a P/E ratio of 6.22, a PEG ratio of 1.35 and a beta of 1.53. The company has a 50-day moving average of $30.21 and a 200-day moving average of $34.87. 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 has a 1-year low of $25.28 and a 1-year high of $43.37.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in Vornado Realty Trust by 18.3% during the first quarter. Royal Bank of Canada now owns 27,507 shares of the real estate investment trust’s stock worth $1,017,000 after purchasing an additional 4,251 shares in the last quarter. AQR Capital Management LLC boosted its stake in Vornado Realty Trust by 18.7% during the 1st quarter. AQR Capital Management LLC now owns 51,939 shares of the real estate investment trust’s stock valued at $1,903,000 after purchasing an additional 8,189 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Vornado Realty Trust by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust’s stock valued at $22,705,000 after purchasing an additional 112,956 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Vornado Realty Trust during the 2nd quarter valued at $765,000. Finally, ProShare Advisors LLC raised its stake in shares of Vornado Realty Trust by 4.7% in the 2nd quarter. ProShare Advisors LLC now owns 7,403 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 330 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

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.