Citigroup Issues Positive Forecast for Vornado Realty Trust (NYSE:VNO) Stock Price

Key Points

• Citigroup raised its price target on Vornado Realty Trust from $32 to $34 while keeping a neutral rating, implying about 5.76% upside from the current share price.
• Other analysts remain cautious: several firms cut their targets, and the broader consensus on Vornado is still a Hold with an average price target of $34.09.
• The company reported a Q1 EPS miss of -$0.12 versus the -$0.05 estimate, but revenue came in above expectations at $459.11 million. Vornado also approved a $300 million stock buyback, signaling management may see the shares as undervalued.

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price objective raised by stock analysts at Citigroup from $32.00 to $34.00 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Citigroup's price target would suggest a potential upside of 5.76% from the stock's current price.

A number of other research analysts have also weighed in on the stock. Truist Financial decreased their target price on shares of Vornado Realty Trust from $29.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, March 31st. Scotiabank decreased their target price on shares of Vornado Realty Trust from $36.00 to $32.00 and set a "sector perform" rating on the stock in a research note on Monday, March 2nd. JPMorgan Chase & Co. decreased their target price on shares of Vornado Realty Trust from $41.00 to $33.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings lowered shares of Vornado Realty Trust from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday. Finally, Morgan Stanley decreased their target price on shares of Vornado Realty Trust from $32.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $34.09.

Vornado Realty Trust Price Performance

VNO stock traded up $0.11 during trading on Friday, hitting $32.15. The stock had a trading volume of 1,837,954 shares, compared to its average volume of 2,044,998. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 5.25. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $43.37. The stock has a market capitalization of $6.05 billion, a P/E ratio of 8.83, a PEG ratio of 1.72 and a beta of 1.53. The company's 50-day moving average price is $27.51 and its two-hundred day moving average price is $31.70.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share (EPS) 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 firm had revenue of $459.11 million during the quarter, compared to analyst estimates of $431.72 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company's quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts predict that Vornado Realty Trust will post 2.33 EPS for the current fiscal year.

Vornado Realty Trust announced that its board has approved a stock buyback plan on Wednesday, April 29th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

Institutional Trading of Vornado Realty Trust

Several institutional investors have recently made changes to their positions in VNO. Danske Bank A S acquired a new stake in Vornado Realty Trust in the 3rd quarter valued at approximately $28,000. Farmers & Merchants Investments Inc. increased its holdings in Vornado Realty Trust by 512.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 718 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Vornado Realty Trust in the 3rd quarter valued at approximately $33,000. Employees Retirement System of Texas acquired a new stake in Vornado Realty Trust in the 4th quarter valued at approximately $36,000. Finally, Westside Investment Management Inc. increased its holdings in Vornado Realty Trust by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 886 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 443 shares during the last quarter. Hedge funds and other institutional investors own 90.02% of the company's stock.

About Vornado Realty Trust

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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