Vornado Realty Trust (NYSE:VNO) Rating Increased to Neutral at Citigroup

Key Points

• Vornado Realty Trust was upgraded by Citigroup from a "sell" to a "neutral" rating, with a new price target of $42.00.
• Analysts' consensus rating for Vornado is currently "Hold" with an average price target of $38.27.
• The company’s recent quarterly earnings showed a net margin of 48.49% but revenue was down 2.0% year-over-year.

Citigroup upgraded shares of Vornado Realty Trust (NYSE:VNO - Free Report) from a sell rating to a neutral rating in a research report sent to investors on Friday, Marketbeat Ratings reports. They currently have $42.00 target price on the real estate investment trust's stock, up from their previous target price of $34.00.

A number of other research firms have also commented on VNO. Barclays upped their price objective on shares of Vornado Realty Trust from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, August 21st. Mizuho cut their price objective on Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Monday, July 14th. Evercore ISI lowered their target price on Vornado Realty Trust from $45.00 to $44.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Truist Financial raised their target price on 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, Bank of America lowered their target price on Vornado Realty Trust from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Vornado Realty Trust presently has an average rating of "Hold" and an average target price of $38.64.

Vornado Realty Trust Stock Performance

VNO stock traded up $0.01 during trading on Friday, hitting $42.20. 1,061,164 shares of the company's stock traded hands, compared to its average volume of 1,502,857. The stock has a fifty day moving average price of $38.65 and a two-hundred day moving average price of $37.92. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 5.34 and a beta of 1.58. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.40. Vornado Realty Trust has a 52 week low of $29.68 and a 52 week high of $46.63.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 19.64%. The company had revenue of $441.44 million during the quarter, compared to analyst estimates of $468.79 million. During the same quarter last year, the firm posted $0.57 EPS. The business's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Insider Buying and Selling at Vornado Realty Trust

In other news, EVP Haim Chera sold 30,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $39.64, for a total value of $1,189,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.42% of the company's stock.

Institutional Investors Weigh In On Vornado Realty Trust

Several large investors have recently added to or reduced their stakes in VNO. Twin Tree Management LP boosted its holdings in Vornado Realty Trust by 102.1% in the first 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 in the last quarter. UMB Bank n.a. increased its position in Vornado Realty Trust by 67.7% in the first quarter. UMB Bank n.a. now owns 1,295 shares of the real estate investment trust's stock worth $48,000 after buying an additional 523 shares during the last quarter. Assetmark Inc. increased its position in Vornado Realty Trust by 23.3% in the first quarter. Assetmark Inc. now owns 1,835 shares of the real estate investment trust's stock worth $68,000 after buying an additional 347 shares during the last quarter. Friedenthal Financial purchased a new stake in Vornado Realty Trust in the first quarter worth $75,000. Finally, Fifth Third Bancorp increased its position in Vornado Realty Trust by 16.4% in the first quarter. Fifth Third Bancorp now owns 2,214 shares of the real estate investment trust's stock worth $82,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

About Vornado Realty Trust

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