Vornado Realty Trust (NYSE:VNO) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Vornado Realty Trust has a consensus “Hold” rating among 14 brokerages: seven holds, four buys and three sells. The average 12-month price target is $39.17.
• Analyst views remain mixed, with recent target increases from JPMorgan, Mizuho and BMO, while UBS downgraded the stock to “underweight.” VNO recently traded at $39.39, within its $24.57–$43.37 one-year range.
• The company missed quarterly earnings expectations but exceeded revenue estimates, and its board authorized a $300 million share-repurchase program. Institutional investors and hedge funds own approximately 90.02% of outstanding shares.

Shares of Vornado Realty Trust (NYSE:VNO - Get Free Report) have been assigned a consensus recommendation of "Hold" from the fourteen brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $39.1667.

Several research firms have recently weighed in on VNO. JPMorgan Chase & Co. boosted their price objective on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Mizuho raised their target price on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the company an "outperform" rating in a research note on Tuesday, July 21st. UBS Group downgraded shares of Vornado Realty Trust to an "underweight" rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Vornado Realty Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 9th. Finally, BMO Capital Markets boosted their price target on Vornado Realty Trust from $33.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, June 15th.

Insider Activity at Vornado Realty Trust

In related news, Director Michael D. Fascitelli sold 133,350 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total value of $4,883,277.00. Following the sale, the director owned 475,161 shares in the company, valued at approximately $17,400,395.82. This represents a 21.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Russell B. Wight, Jr. purchased 4,000 shares of the business's stock in a transaction on Monday, June 8th. The shares were acquired at an average cost of $16.94 per share, with a total value of $67,760.00. Following the acquisition, the director directly owned 13,000 shares in the company, valued at approximately $220,220. The trade was a 44.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 9.00% of the company's stock.

Hedge Funds Weigh In On Vornado Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System bought a new position in Vornado Realty Trust during the first quarter worth about $1,206,000. Pacific Heights Asset Management LLC boosted its holdings in Vornado Realty Trust by 75.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 350,000 shares of the real estate investment trust's stock valued at $11,648,000 after purchasing an additional 150,000 shares during the period. Legal & General Group Plc boosted its holdings in Vornado Realty Trust by 9.1% in the 4th quarter. Legal & General Group Plc now owns 1,789,601 shares of the real estate investment trust's stock valued at $59,558,000 after purchasing an additional 149,598 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Vornado Realty Trust by 24,536.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 62,824 shares of the real estate investment trust's stock valued at $2,091,000 after purchasing an additional 62,569 shares during the period. Finally, Advisors Preferred LLC acquired a new position in shares of Vornado Realty Trust during the 1st quarter worth approximately $2,102,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Price Performance

NYSE:VNO opened at $39.39 on Friday. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $43.37. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. The firm has a fifty day simple moving average of $37.92 and a 200 day simple moving average of $32.28. The stock has a market capitalization of $7.41 billion, a PE ratio of 10.82, a P/E/G ratio of 2.02 and a beta of 1.53.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $431.71 million. Vornado Realty Trust's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, research analysts expect that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

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

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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