Scotiabank Forecasts Strong Price Appreciation for Vornado Realty Trust (NYSE:VNO) Stock

Vornado Realty Trust (NYSE:VNO - Free Report) had its price objective raised by Scotiabank from $42.00 to $45.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust's stock.

Several other brokerages have also commented on VNO. Wall Street Zen upgraded shares of Vornado Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Truist Financial boosted their target price on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Finally, Piper Sandler boosted their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $38.09.

Vornado Realty Trust Stock Performance

Shares of Vornado Realty Trust stock traded down $0.22 during trading on Monday, reaching $38.53. The company's stock had a trading volume of 2,073,752 shares, compared to its average volume of 1,613,432. The company has a 50-day moving average price of $38.85 and a two-hundred day moving average price of $38.76. The firm has a market cap of $7.40 billion, a PE ratio of 74.10, a P/E/G ratio of 14.16 and a beta of 1.50. Vornado Realty Trust has a fifty-two week low of $26.19 and a fifty-two week high of $46.63. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 1.81.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.11. Vornado Realty Trust had a net margin of 9.17% and a return on equity of 3.83%. The firm had revenue of $461.58 million for the quarter, compared to analyst estimates of $452.68 million. During the same period last year, the firm posted $0.55 EPS. Vornado Realty Trust's quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current year.

Insider Activity

In other news, EVP Haim Chera sold 20,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $37.98, for a total transaction of $759,600.00. Following the completion of the sale, the executive vice president owned 30,000 shares in the company, valued at approximately $1,139,400. The trade was a 40.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.42% of the company's stock.

Institutional Trading of Vornado Realty Trust

A number of institutional investors have recently modified their holdings of the company. Twin Tree Management LP boosted its holdings in Vornado Realty Trust by 102.1% in the 1st quarter. Twin Tree Management LP now owns 785 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 38,585 shares during the period. FIL Ltd purchased a new position in Vornado Realty Trust in the 4th quarter worth approximately $49,000. UMB Bank n.a. boosted its holdings in Vornado Realty Trust by 67.7% in the 1st quarter. UMB Bank n.a. now owns 1,295 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 523 shares during the period. Assetmark Inc. boosted its holdings in Vornado Realty Trust by 23.3% in the 1st quarter. Assetmark Inc. now owns 1,835 shares of the real estate investment trust's stock worth $68,000 after acquiring an additional 347 shares during the period. Finally, Friedenthal Financial purchased a new position in Vornado Realty Trust in the 1st quarter worth approximately $75,000. Hedge funds and other institutional investors own 90.02% of the company's stock.

Vornado Realty Trust Company Profile

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