Piper Sandler Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $22.00

Vornado Realty Trust (NYSE:VNO - Free Report) had its price objective decreased by Piper Sandler from $25.00 to $22.00 in a research note issued to investors on Monday morning, Benzinga reports. Piper Sandler currently has an underweight rating on the real estate investment trust's stock.

VNO has been the subject of several other reports. The Goldman Sachs Group dropped their price target on Vornado Realty Trust from $24.00 to $21.00 and set a sell rating for the company in a research note on Thursday, February 22nd. Barclays assumed coverage on shares of Vornado Realty Trust in a report on Wednesday, March 27th. They issued an underweight rating and a $22.00 price target on the stock. Compass Point decreased their price objective on shares of Vornado Realty Trust from $28.00 to $27.00 and set a neutral rating for the company in a research note on Wednesday, May 8th. Morgan Stanley raised shares of Vornado Realty Trust from an underweight rating to an equal weight rating and increased their price objective for the stock from $24.00 to $26.00 in a research report on Thursday, March 28th. Finally, Evercore ISI reduced their target price on shares of Vornado Realty Trust from $28.00 to $26.00 and set an underperform rating on the stock in a report on Thursday, February 15th. Six analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Reduce and an average target price of $24.70.

Vornado Realty Trust Trading Up 0.9 %

VNO stock traded up $0.23 on Monday, hitting $24.45. 1,469,685 shares of the company were exchanged, compared to its average volume of 2,205,850. The company has a debt-to-equity ratio of 1.81, a current ratio of 4.97 and a quick ratio of 4.97. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 168.47 and a beta of 1.57. Vornado Realty Trust has a twelve month low of $12.31 and a twelve month high of $32.21. The business's fifty day moving average is $26.61 and its two-hundred day moving average is $26.08.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.55). The company had revenue of $441.89 million for the quarter, compared to analysts' expectations of $453.82 million. Vornado Realty Trust had a net margin of 5.07% and a return on equity of 3.02%. The firm's quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, research analysts forecast that Vornado Realty Trust will post 2.3 earnings per share for the current year.

Hedge Funds Weigh In On Vornado Realty Trust

A number of hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in Vornado Realty Trust during the fourth quarter valued at $26,000. Financial Gravity Asset Management Inc. grew its position in shares of Vornado Realty Trust by 8,355.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,522 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 1,504 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Vornado Realty Trust during the 4th quarter valued at about $40,000. Selway Asset Management acquired a new stake in Vornado Realty Trust during the third quarter worth about $45,000. Finally, Bruce G. Allen Investments LLC bought a new position in Vornado Realty Trust in the fourth quarter worth about $50,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.