Vornado Realty Trust (NYSE:VNO) Price Target Raised to $42.00

Key Points

• Mizuho raised its price target on Vornado Realty Trust from $34 to $42 and kept an outperform rating, implying modest upside from the current share price.
• Analyst sentiment remains mixed overall: VNO has an average Hold rating and an average target price of $37, with several firms recently lifting targets while others cut theirs.
• The company recently reported a quarterly EPS miss but beat revenue expectations, and its board authorized a $300 million share buyback, signaling management may view the stock as undervalued.

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its target price lifted by investment analysts at Mizuho from $34.00 to $42.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Mizuho's price target would suggest a potential upside of 5.65% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley lowered their price objective on shares of Vornado Realty Trust from $32.00 to $28.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Citigroup boosted their target price on Vornado Realty Trust from $32.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Truist Financial upped their price target on Vornado Realty Trust from $28.00 to $39.00 and gave the stock a "hold" rating in a research note on Friday, June 26th. JPMorgan Chase & Co. raised their price target on Vornado Realty Trust from $33.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, May 28th. Finally, Scotiabank boosted their price objective on Vornado Realty Trust from $33.00 to $38.00 and gave the company a "sector perform" rating in a report on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $37.00.

Vornado Realty Trust Price Performance

NYSE:VNO opened at $39.76 on Tuesday. Vornado Realty Trust has a 52 week low of $24.57 and a 52 week high of $43.37. The stock's fifty day moving average is $36.40 and its two-hundred day moving average is $31.90. The company has a market capitalization of $7.48 billion, a P/E ratio of 10.92, a P/E/G ratio of 2.03 and a beta of 1.53. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 1.54.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its quarterly 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). The business had revenue of $459.11 million for the quarter, compared to analysts' expectations of $431.71 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. Equities analysts expect that Vornado Realty Trust will post 2.34 EPS for the current year.

Vornado Realty Trust announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 29th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Vornado Realty Trust

In other Vornado Realty Trust news, Director Michael D. Fascitelli sold 133,350 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the sale, the director owned 475,161 shares in the company, valued at $17,400,395.82. This represents a 21.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Russell B. Wight, Jr. purchased 4,000 shares of Vornado Realty Trust stock in a transaction on Monday, June 8th. The stock was bought at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the transaction, the director directly owned 13,000 shares in the company, valued at $220,220. This represents a 44.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 9.00% of the company's stock.

Hedge Funds Weigh In On Vornado Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in VNO. Danske Bank A S purchased a new stake in shares of Vornado Realty Trust during the third quarter worth approximately $28,000. Farmers & Merchants Investments Inc. lifted its stake in shares of Vornado Realty Trust by 512.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 718 shares during the period. Essential Partners LLC boosted its holdings in shares of Vornado Realty Trust by 186.9% in the first quarter. Essential Partners LLC now owns 1,182 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 770 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Vornado Realty Trust in the third quarter valued at about $33,000. Finally, Employees Retirement System of Texas purchased a new stake in Vornado Realty Trust in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 90.02% of the company's stock.

About Vornado Realty Trust

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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