Piper Sandler Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $28.00

Key Points

• Piper Sandler cut its price objective on Vornado Realty Trust from $36 to a $28 price target and kept a "neutral" rating, which the firm says implies roughly an 8.3% upside from the stock's current level.
• Analyst sentiment is mixed but tilted toward caution: several firms (Evercore, Morgan Stanley, Scotiabank) have lowered targets recently and the stock carries a consensus "Hold" rating with an average target of $34.82.
• Vornado trades around $25.86 with a $4.93B market cap and a low P/E of 6.17; the company posted a slight quarterly EPS miss ($0.55 vs. $0.57) despite revenue above estimates and shows a downward trend versus its 50‑ and 200‑day moving averages.

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price objective cut by Piper Sandler from $36.00 to $28.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's price target would indicate a potential upside of 8.26% from the stock's current price.

VNO has been the topic of a number of other research reports. Evercore cut their target price on shares of Vornado Realty Trust from $43.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, December 15th. Wall Street Zen downgraded Vornado Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. Weiss Ratings restated a "hold (c)" rating on shares of Vornado Realty Trust in a research report on Monday, December 29th. Morgan Stanley lowered their price objective on Vornado Realty Trust from $32.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, Scotiabank dropped their target price on Vornado Realty Trust from $36.00 to $32.00 and set a "sector perform" rating on the stock in a research report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $34.82.

Vornado Realty Trust Stock Performance

VNO traded down $0.13 during trading hours on Wednesday, hitting $25.86. 927,538 shares of the stock were exchanged, compared to its average volume of 2,093,776. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 1.36 and a beta of 1.53. The stock has a 50-day simple moving average of $28.61 and a 200-day simple moving average of $33.85. The company has a debt-to-equity ratio of 1.44, a current ratio of 5.25 and a quick ratio of 5.25. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, February 9th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.02). Vornado Realty Trust had a return on equity of 18.64% and a net margin of 49.99%.The business had revenue of $453.71 million for the quarter, compared to analyst estimates of $440.23 million. During the same period last year, the company posted $0.61 earnings per share. The firm's revenue for the quarter was down .9% on a year-over-year basis. Analysts anticipate that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Institutional Trading of Vornado Realty Trust

Large investors have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new position in Vornado Realty Trust during the 3rd quarter worth $28,000. Farmers & Merchants Investments Inc. raised its stake in shares of Vornado Realty Trust by 512.9% during the fourth 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 in the last quarter. Advisory Services Network LLC acquired a new stake in Vornado Realty Trust in the third quarter worth about $33,000. Employees Retirement System of Texas acquired a new stake in Vornado Realty Trust in the fourth quarter worth about $36,000. Finally, Westside Investment Management Inc. grew its position 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 buying an additional 443 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

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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