BMO Capital Markets Issues Positive Forecast for Vornado Realty Trust (NYSE:VNO) Stock Price

Key Points

• BMO Capital Markets raised its price target on Vornado Realty Trust from $33 to $43 and kept an outperform rating, implying about 11% upside from the current price.
• Other analysts were mixed: several firms lifted targets, but the stock’s broader consensus remains Hold with an average price target of $35.
• Vornado recently authorized a $300 million share buyback, while the company also reported a quarterly earnings miss despite revenue topping estimates.

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price objective upped by BMO Capital Markets from $33.00 to $43.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. BMO Capital Markets' target price indicates a potential upside of 11.05% from the stock's current price.

Several other brokerages also recently issued reports on VNO. JPMorgan Chase & Co. upped their price target on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, May 28th. Citigroup upped their price target on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Mizuho reduced 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 report on Tuesday, February 24th. Truist Financial reduced their price target on shares of Vornado Realty Trust from $29.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, March 31st. Finally, LADENBURG THALM/SH SH upped their price target on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.00.

Vornado Realty Trust Price Performance

VNO traded up $0.45 on Monday, hitting $38.72. 220,750 shares of the company were exchanged, compared to its average volume of 1,970,341. The company has a debt-to-equity ratio of 1.54, a quick ratio of 6.14 and a current ratio of 6.14. The business's fifty day moving average is $31.12 and its 200 day moving average is $31.16. Vornado Realty Trust has a fifty-two week low of $24.57 and a fifty-two week high of $43.37. The firm has a market capitalization of $7.28 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 1.93 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The company had revenue of $459.11 million for the quarter, compared to analyst estimates of $431.72 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company's quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 2.34 EPS for the current year.

Vornado Realty Trust declared that its board has authorized a share buyback program on Wednesday, April 29th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Russell B. Wight, Jr. purchased 4,000 shares of the business's stock in a transaction on Monday, June 8th. The shares were bought at an average price of $16.94 per share, with a total value of $67,760.00. Following the completion of the purchase, the director directly owned 13,000 shares in the company, valued at approximately $220,220. This trade represents a 44.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 9.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vornado Realty Trust

Several large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in shares of Vornado Realty Trust by 4.8% in the fourth quarter. Farther Finance Advisors LLC now owns 7,706 shares of the real estate investment trust's stock worth $256,000 after acquiring an additional 351 shares in the last quarter. Signaturefd LLC increased its position in shares of Vornado Realty Trust by 2.0% in the fourth quarter. Signaturefd LLC now owns 19,976 shares of the real estate investment trust's stock worth $665,000 after acquiring an additional 389 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Vornado Realty Trust by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 39,320 shares of the real estate investment trust's stock worth $1,504,000 after acquiring an additional 391 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Vornado Realty Trust by 1.0% in the first quarter. State of Michigan Retirement System now owns 38,500 shares of the real estate investment trust's stock worth $1,001,000 after acquiring an additional 400 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Vornado Realty Trust by 15.5% in the third quarter. Brown Brothers Harriman & Co. now owns 2,976 shares of the real estate investment trust's stock worth $121,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

Vornado Realty Trust Company Profile

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.

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