Scotiabank Issues Pessimistic Forecast for Vornado Realty Trust (NYSE:VNO) Stock Price

Key Points

• Scotiabank lowered its Vornado Realty Trust price target from $41 to $39 while maintaining a “sector perform” rating, implying approximately 12.2% upside from the stock’s $34.76 price.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $39.91; ratings include four Buys, five Holds, and four Sells.
• Vornado’s latest quarterly EPS of $0.08 missed expectations of $0.57, although revenue rose 4.7% year over year to $462.24 million. Institutional investors own approximately 90.02% of the company’s stock.

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its target price reduced by Scotiabank from $41.00 to $39.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target would suggest a potential upside of 12.20% from the company's current price.

Other analysts have also recently issued reports about the stock. Citigroup upped their target price on shares of Vornado Realty Trust from $34.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Truist Financial upped their price objective on Vornado Realty Trust from $28.00 to $39.00 and gave the stock a "hold" rating in a research note on Friday, June 26th. Weiss Ratings cut Vornado Realty Trust from a "hold (c)" rating to a "sell (d+)" rating in a report on Tuesday, August 4th. LADENBURG THALM/SH SH lifted their target price on Vornado Realty Trust from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Finally, Barclays boosted their price target on Vornado Realty Trust from $29.00 to $34.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $39.91.

Vornado Realty Trust Stock Performance

Shares of VNO stock traded down $0.06 on Thursday, reaching $34.76. The stock had a trading volume of 227,116 shares, compared to its average volume of 1,800,324. The company has a debt-to-equity ratio of 1.56, a quick ratio of 5.24 and a current ratio of 5.24. Vornado Realty Trust has a 1 year low of $24.57 and a 1 year high of $42.26. The stock has a market cap of $6.49 billion, a P/E ratio of 1,737.37, a price-to-earnings-growth ratio of 1.59 and a beta of 1.53. The company has a 50 day simple moving average of $38.32 and a 200 day simple moving average of $33.82.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.49). Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The firm had revenue of $462.24 million during the quarter, compared to analysts' expectations of $454.46 million. During the same period in the previous year, the business posted $0.56 earnings per share. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts expect that Vornado Realty Trust will post 2.36 EPS for the current year.

Institutional Trading of Vornado Realty Trust

Large investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its position in Vornado Realty Trust by 35.5% in the second quarter. Sequoia Financial Advisors LLC now owns 14,064 shares of the real estate investment trust's stock worth $553,000 after purchasing an additional 3,688 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Vornado Realty Trust by 33.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 30,485 shares of the real estate investment trust's stock valued at $1,198,000 after buying an additional 7,643 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Vornado Realty Trust in the 2nd quarter valued at about $222,000. Squarepoint Ops LLC lifted its holdings in shares of Vornado Realty Trust by 65.9% in the 2nd quarter. Squarepoint Ops LLC now owns 133,928 shares of the real estate investment trust's stock valued at $5,263,000 after acquiring an additional 53,208 shares during the last quarter. Finally, Allworth Financial LP grew its position in Vornado Realty Trust by 272.7% in the second quarter. Allworth Financial LP now owns 6,478 shares of the real estate investment trust's stock worth $255,000 after acquiring an additional 4,740 shares in the last quarter. Institutional investors own 90.02% of the company's stock.

About Vornado Realty Trust

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops office, retail and mixed-use properties. The company's portfolio is concentrated in New York City, particularly in Manhattan, where it operates prominent office buildings and retail destinations in major commercial districts.

Vornado's activities include leasing office space to businesses, operating retail properties, managing building services and pursuing redevelopment opportunities.

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