Vornado Realty Trust (NYSE:VNO) Reaches New 12-Month Low - Here's What Happened

Key Points

• Shares of Vornado Realty Trust fell to a new 52-week low of $25.14 on Friday, last trading at $25.27 on light volume.
• Analysts have trimmed price targets recently and the consensus rating is Hold (average target $36.40), with 3 Buys, 7 Holds and 1 Sell.
• Vornado missed EPS estimates in the latest quarter ($0.55 vs. $0.57) though revenue topped forecasts, and institutional investors have been buying heavily—about 90% of the stock is institutionally owned, including large new stakes from Norges Bank, Price T. Rowe and UBS.

Shares of Vornado Realty Trust (NYSE:VNO - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $25.14 and last traded at $25.27, with a volume of 58842 shares trading hands. The stock had previously closed at $25.67.

Wall Street Analyst Weigh In

A number of equities analysts have commented on VNO shares. Evercore reduced their price objective on Vornado Realty Trust from $43.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, December 15th. Truist Financial lowered their target price on Vornado Realty Trust from $34.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday, March 17th. Piper Sandler cut their price target on Vornado Realty Trust from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Wednesday, February 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Vornado Realty Trust in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Vornado Realty Trust from $41.00 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Vornado Realty Trust currently has a consensus rating of "Hold" and an average target price of $36.40.

Vornado Realty Trust Stock Performance

The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 6.00, a P/E/G ratio of 1.39 and a beta of 1.53. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 1.44. The firm has a fifty day simple moving average of $29.10 and a 200-day simple moving average of $34.29.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its earnings results on Monday, February 9th. The real estate investment trust reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). Vornado Realty Trust had a net margin of 49.99% and a return on equity of 18.64%. The firm had revenue of $453.71 million during the quarter, compared to analyst estimates of $440.23 million. During the same period last year, the business posted $0.61 earnings per share. The firm's quarterly revenue was down .9% on a year-over-year basis. Analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Institutional Trading of Vornado Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Vornado Realty Trust during the 4th quarter worth approximately $579,709,000. Price T Rowe Associates Inc. MD raised its stake in shares of Vornado Realty Trust by 21.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust's stock worth $301,300,000 after buying an additional 1,598,643 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Vornado Realty Trust by 27,787.3% in the third quarter. Pacer Advisors Inc. now owns 1,489,737 shares of the real estate investment trust's stock valued at $60,379,000 after buying an additional 1,484,395 shares during the period. Resolution Capital Ltd bought a new position in Vornado Realty Trust in the second quarter valued at approximately $49,565,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Vornado Realty Trust by 393,598.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,051,175 shares of the real estate investment trust's stock valued at $34,983,000 after acquiring an additional 1,050,908 shares during the last quarter. 90.02% of the stock is owned by institutional investors.

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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