Vornado Realty Trust (NYSE:VNO) Price Target Lowered to $28.00 at Piper Sandler

Vornado Realty Trust (NYSE:VNO) had its price objective decreased by Piper Sandler from $36.00 to $28.00 in a research note released on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

VNO has been the topic of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Vornado Realty Trust in a research report on Monday, December 29th. Truist Financial decreased their target price on shares of Vornado Realty Trust from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday. Mizuho dropped their price target on shares of Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Scotiabank cut their price target on Vornado Realty Trust from $36.00 to $32.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Finally, Wall Street Zen downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.82.

Vornado Realty Trust Price Performance

Shares of VNO opened at $25.56 on Wednesday. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37. The company has a debt-to-equity ratio of 1.44, a current ratio of 5.25 and a quick ratio of 5.25. The stock has a fifty day moving average price of $28.47 and a 200 day moving average price of $33.79. The company has a market cap of $4.87 billion, a P/E ratio of 6.10, a PEG ratio of 1.40 and a beta of 1.51.

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

Hedge Funds Weigh In On Vornado Realty Trust

Several large investors have recently bought and sold shares of VNO. Royal Bank of Canada lifted its stake in shares of Vornado Realty Trust by 18.3% in the 1st quarter. Royal Bank of Canada now owns 27,507 shares of the real estate investment trust’s stock worth $1,017,000 after acquiring an additional 4,251 shares during the period. AQR Capital Management LLC increased its stake in shares of Vornado Realty Trust by 18.7% during the first quarter. AQR Capital Management LLC now owns 51,939 shares of the real estate investment trust’s stock valued at $1,903,000 after acquiring an additional 8,189 shares during the period. Goldman Sachs Group Inc. raised its holdings in Vornado Realty Trust by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust’s stock worth $22,705,000 after purchasing an additional 112,956 shares in the last quarter. American Century Companies Inc. lifted its position in Vornado Realty Trust by 12.8% in the second quarter. American Century Companies Inc. now owns 443,834 shares of the real estate investment trust’s stock worth $16,972,000 after purchasing an additional 50,285 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its position in Vornado Realty Trust by 10.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 214,861 shares of the real estate investment trust’s stock worth $8,216,000 after purchasing an additional 20,275 shares during the period. 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.