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Piper Sandler trims Vornado Realty Trust (NYSE:VNO) target price to $24.00

Vornado Realty Trust (NYSE:VNO – Get Rating ) Analysts dropped their price target on Piper Sandler to $24.00 in a research report issued on Monday, Stock Target Advisors reports. Piper Sandler’s price objective points to a potential downside of 18.56% from the stock’s current price.

Several other equities research analysts have also commented on VNO. Morgan Stanley decreased their price target on Vornado Realty Trust from $39.00 to $30.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 1st. StockNews.com lowered Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, May 9th. Mizuho assumed coverage on Vornado Realty Trust in a research report on Friday, April 22nd. They set an “underperform” rating and a $38.00 price target on the stock. BMO Capital Markets lowered Vornado Realty Trust from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $52.00 to $40.00 in a research report on Tuesday, May 31st. Finally, Truist Financial decreased their price target on Vornado Realty Trust from $41.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $35.00, according to MarketBeat.com.

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Shares of VNO traded up $0.88 during mid-day trading on Monday, reaching $29.47. The company had a trading volume of 52,327 shares, compared to its average volume of 1,605,569. Vornado Realty Trust has a twelve month low of $27.64 and a twelve month high of $47.51. The company has a debt-to-equity ratio of 1.64, a current ratio of 4.70 and a quick ratio of 4.70. The company’s 50-day moving average is $33.46 and its 200-day moving average is $39.83. The company has a market capitalization of $5.65 billion, a P/E ratio of 45.34 and a beta of 1.29.

Vornado Realty Trust (NYSE:VNO – Get Rating ) last issued its quarterly earnings results on Monday, May 2nd. The real estate investment trust reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. Vornado Realty Trust had a return on equity of 2.90% and a net margin of 11.96%. During the same quarter last year, the firm posted $0.65 EPS. As a group, equities analysts expect that Vornado Realty Trust will post 3.14 EPS for the current fiscal year.

In other news, director Michael D. Facitelli sold 119,100 shares of the firm’s stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $41.97 for a total value of $4,998,627.00. Following the transaction, the director now directly owns 1,100,451 shares in the company, valued at approximately $46,185,928.47. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through the SEC website. 7.87% of shares are currently owned by company insiders.

A number of institutional investors have recently modified their holdings of VNO. CWM LLC acquired a new stake in Vornado Realty Trust during the 4th quarter valued at $26,000. MCF Advisors LLC acquired a new stake in shares of Vornado Realty Trust in the 1st quarter valued at approximately $37,000. Sylvant Capital Management LLC boosted its stake in shares of Vornado Realty Trust by 317.2% in the 1st quarter. Sylvant Capital Management LLC now owns 1,118 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 850 shares during the period. UMB Bank NA MO acquired a new stake in shares of Vornado Realty Trust in the 4th quarter valued at about $55,000. Finally, Herald Advisors Inc. acquired a new stake in shares of Vornado Realty Trust in the 1st quarter valued at about $57,000. 82.19% of the shares are currently owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile (get rating)

Vornado’s portfolio is concentrated in the nation’s leading market of New York City with prime properties in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability. The company owns and operates over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.

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Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

This quick news alert is created from narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by Marketbeat’s editorial team before publication. Please send any questions or comments about this story to [email protected]

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