Vornado Realty Trust (NYSE:VNO) Given New $38.00 Price Target at Truist Financial

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price objective increased by equities researchers at Truist Financial from $37.00 to $38.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the real estate investment trust's stock. Truist Financial's target price would indicate a potential downside of 5.69% from the stock's previous close.

A number of other brokerages also recently commented on VNO. Barclays increased their price target on Vornado Realty Trust from $31.00 to $32.00 and gave the company an "underweight" rating in a research report on Friday, March 14th. Morgan Stanley increased their price target on Vornado Realty Trust from $26.00 to $28.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. The Goldman Sachs Group increased their price target on Vornado Realty Trust from $27.00 to $30.00 and gave the company a "sell" rating in a research report on Tuesday, February 25th. Wall Street Zen raised Vornado Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Compass Point increased their price objective on Vornado Realty Trust from $40.00 to $44.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Vornado Realty Trust presently has an average rating of "Hold" and a consensus target price of $37.91.

Vornado Realty Trust Stock Performance

Shares of VNO traded up $1.14 on Tuesday, reaching $40.29. 1,024,162 shares of the company's stock traded hands, compared to its average volume of 1,599,304. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 1.98. The stock has a market cap of $7.73 billion, a PE ratio of 1,007.33, a PEG ratio of 9.69 and a beta of 1.52. The stock's 50 day simple moving average is $36.52 and its two-hundred day simple moving average is $39.54. Vornado Realty Trust has a 52-week low of $23.50 and a 52-week high of $46.63.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.11. The company had revenue of $461.58 million during the quarter, compared to the consensus estimate of $452.68 million. Vornado Realty Trust had a return on equity of 1.60% and a net margin of 3.94%. Vornado Realty Trust's revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. On average, analysts forecast that Vornado Realty Trust will post 2.31 earnings per share for the current fiscal year.

Insider Transactions at Vornado Realty Trust

In other news, EVP Haim Chera sold 20,000 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $37.98, for a total value of $759,600.00. Following the completion of the transaction, the executive vice president now directly owns 30,000 shares of the company's stock, valued at $1,139,400. This trade represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.42% of the company's stock.

Hedge Funds Weigh In On Vornado Realty Trust

A number of large investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of Vornado Realty Trust in the first quarter worth $1,175,000. Acadian Asset Management LLC bought a new position in shares of Vornado Realty Trust in the first quarter worth $3,341,000. Bayforest Capital Ltd bought a new position in shares of Vornado Realty Trust in the first quarter worth $294,000. Woodline Partners LP boosted its stake in Vornado Realty Trust by 214.9% during the first quarter. Woodline Partners LP now owns 599,874 shares of the real estate investment trust's stock valued at $22,189,000 after buying an additional 409,362 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Vornado Realty Trust by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust's stock valued at $22,705,000 after buying an additional 112,956 shares during the period. 90.02% of the stock is owned by institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully - integrated equity real estate investment trust.