Vornado Realty Trust (NYSE:VNO) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Vornado Realty Trust has a consensus “Hold” rating from 13 analysts: four recommend selling, five advise holding, and four recommend buying. The average 12-month price target is $38.91, above the reported opening price of $32.31.
• Vornado’s latest quarterly results missed expectations, with earnings per share of $0.08 versus the $0.57 consensus estimate, although revenue of $462.24 million exceeded forecasts and increased 4.7% year over year.
• Insider selling and strong institutional ownership remain notable: an executive vice president sold 90,000 shares, while institutional investors own approximately 90.02% of the company’s stock.

Vornado Realty Trust (NYSE:VNO - Get Free Report) has earned a consensus rating of "Hold" from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $38.91.

A number of equities research analysts have weighed in on the stock. Citigroup upped their price target 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. JPMorgan Chase & Co. upped their price target on shares of Vornado Realty Trust from $37.00 to $39.00 and gave the company a "neutral" rating in a research report on Tuesday, September 15th. Piper Sandler decreased their price objective on shares of Vornado Realty Trust from $44.00 to $37.00 and set a "neutral" rating for the company in a research note on Monday. Scotiabank decreased their price objective on shares of Vornado Realty Trust from $41.00 to $39.00 and set a "sector perform" rating for the company in a research note on Thursday, September 17th. Finally, UBS Group cut shares of Vornado Realty Trust to an "underweight" rating in a research report on Wednesday, July 22nd.

Vornado Realty Trust Stock Down 4.5%

VNO stock opened at $32.31 on Thursday. Vornado Realty Trust has a 52 week low of $24.57 and a 52 week high of $41.60. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 1,616.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.58. The firm's 50-day moving average is $36.09 and its two-hundred day moving average is $34.87. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.56.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.49). The company had revenue of $462.24 million for the quarter, compared to analyst estimates of $454.46 million. Vornado Realty Trust had a net margin of 3.71% and a return on equity of 1.37%. Vornado Realty Trust's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. On average, analysts forecast that Vornado Realty Trust will post 2.47 earnings per share for the current fiscal year.

Insider Activity at Vornado Realty Trust

In related news, EVP Haim Chera sold 90,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $34.01, for a total transaction of $3,060,900.00. Following the completion of the sale, the executive vice president directly owned 110,000 shares in the company, valued at approximately $3,741,100. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VNO. Resolution Capital Ltd grew its position in Vornado Realty Trust by 34.1% in the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust's stock worth $193,885,000 after purchasing an additional 1,895,846 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Vornado Realty Trust by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,514,173 shares of the real estate investment trust's stock valued at $65,340,000 after acquiring an additional 13,017 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Vornado Realty Trust by 0.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,497,296 shares of the real estate investment trust's stock valued at $49,830,000 after acquiring an additional 7,559 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Vornado Realty Trust by 129.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust's stock worth $36,344,000 after acquiring an additional 788,067 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Vornado Realty Trust by 5.7% in the 1st quarter. Bank of America Corp DE now owns 1,266,476 shares of the real estate investment trust's stock worth $32,916,000 after acquiring an additional 68,267 shares during the period. Hedge funds and other institutional investors own 90.02% of the company's stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust NYSE: VNO is a real estate investment trust that owns, manages and develops commercial properties, with a primary focus on office and retail assets in the New York metropolitan area. The company's portfolio includes office towers, retail properties and mixed-use developments in prominent locations throughout Manhattan.

Vornado is particularly active in the Penn District, a large-scale redevelopment area surrounding Pennsylvania Station in Midtown Manhattan. Its properties serve a range of tenants, including businesses, retailers, restaurants and other commercial occupants.

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