Vornado Realty Trust (NYSE:VNO) Stock Price Expected to Rise, Evercore ISI Analyst Says

Vornado Realty Trust (NYSE:VNO) had its price objective lifted by Evercore ISI from $40.00 to $45.00 in a research note published on Wednesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on the company. The Goldman Sachs Group boosted their target price on Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research report on Thursday, September 12th. Scotiabank boosted their target price on Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Barclays boosted their price target on Vornado Realty Trust from $27.00 to $34.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Truist Financial boosted their price target on Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Finally, Compass Point boosted their price target on Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.07.

Vornado Realty Trust Stock Performance

Shares of Vornado Realty Trust stock opened at $45.76 on Wednesday. The business has a fifty day simple moving average of $39.54 and a two-hundred day simple moving average of $31.65. The company has a debt-to-equity ratio of 1.93, a current ratio of 4.97 and a quick ratio of 5.21. Vornado Realty Trust has a 12 month low of $19.63 and a 12 month high of $45.90.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.61). The company had revenue of $443.26 million during the quarter, compared to analysts’ expectations of $445.07 million. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. Vornado Realty Trust’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, research analysts expect that Vornado Realty Trust will post 2.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VNO. Principal Financial Group Inc. lifted its holdings in Vornado Realty Trust by 428.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,820,958 shares of the real estate investment trust’s stock worth $111,146,000 after purchasing an additional 2,286,997 shares in the last quarter. Bank of Montreal Can lifted its holdings in Vornado Realty Trust by 2,229.1% in the 2nd quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock worth $22,502,000 after purchasing an additional 818,838 shares in the last quarter. Natixis purchased a new position in Vornado Realty Trust in the 1st quarter worth approximately $21,564,000. Duff & Phelps Investment Management Co. lifted its holdings in Vornado Realty Trust by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after purchasing an additional 612,765 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Vornado Realty Trust by 324.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock worth $20,292,000 after purchasing an additional 590,176 shares in the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.