Bank of America Has Lowered Expectations for Vornado Realty Trust (NYSE:VNO) Stock Price

Key Points

• Bank of America has lowered its price target for Vornado Realty Trust stock from $42.00 to $40.00, maintaining a "neutral" rating.
• Vornado Realty Trust reported a quarterly earnings per share (EPS) of $0.56, surpassing estimates but showing a year-over-year revenue decline of 2%.
• The stock has an average price target of $38.40 according to analysts, with a consensus rating of "Hold" from various research firms.

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price objective dropped by analysts at Bank of America from $42.00 to $40.00 in a report released on Monday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Bank of America's price objective points to a potential upside of 5.82% from the stock's previous close.

VNO has been the topic of a number of other reports. Piper Sandler upped their price target on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Evercore ISI cut their price target on shares of Vornado Realty Trust from $45.00 to $44.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Truist Financial upped their price target on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Vornado Realty Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Barclays upped their price target on shares of Vornado Realty Trust from $32.00 to $33.00 and gave the stock an "underweight" rating in a report on Thursday. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Vornado Realty Trust has a consensus rating of "Hold" and an average price target of $38.40.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock traded down $0.2790 during mid-day trading on Monday, reaching $37.8010. 214,846 shares of the company's stock traded hands, compared to its average volume of 1,444,666. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 13.74 and a beta of 1.56. The stock has a 50 day moving average of $38.29 and a two-hundred day moving average of $38.08. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.40. Vornado Realty Trust has a 12-month low of $29.68 and a 12-month high of $46.63.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. The company had revenue of $441.44 million for the quarter, compared to the consensus estimate of $468.79 million. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 19.64%. Vornado Realty Trust's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Equities analysts forecast that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Insider Transactions at Vornado Realty Trust

In other Vornado Realty Trust news, EVP Haim Chera sold 20,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $37.98, for a total transaction of $759,600.00. Following the transaction, the executive vice president directly owned 30,000 shares in the company, valued at $1,139,400. This represents a 40.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.42% of the stock is currently owned by insiders.

Institutional Trading of Vornado Realty Trust

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Vornado Realty Trust in the 1st quarter valued at approximately $2,151,000. Teacher Retirement System of Texas purchased a new position in shares of Vornado Realty Trust in the 1st quarter valued at approximately $876,000. Handelsbanken Fonder AB raised its position in shares of Vornado Realty Trust by 20.7% in the 1st quarter. Handelsbanken Fonder AB now owns 51,300 shares of the real estate investment trust's stock valued at $1,898,000 after purchasing an additional 8,800 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Vornado Realty Trust by 18.2% in the 1st quarter. GAMMA Investing LLC now owns 5,636 shares of the real estate investment trust's stock valued at $208,000 after purchasing an additional 868 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Vornado Realty Trust by 16.4% in the 1st quarter. Fifth Third Bancorp now owns 2,214 shares of the real estate investment trust's stock valued at $82,000 after purchasing an additional 312 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Company Profile

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

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