Vornado Realty Trust (NYSE:VNO) Receives Average Rating of "Hold" from Brokerages

Key Points

• Vornado Realty Trust has an average analyst rating of “Hold” from 13 brokerages, with a consensus 12-month target price of about $36.33.
• Recent analyst actions were mixed: Piper Sandler and Morgan Stanley cut price targets, while BMO Capital Markets and Truist Financial raised targets; rating changes also ranged from neutral to outperform.
• Insider activity was split, with Director Michael D. Fascitelli selling 133,350 shares while Director Russell B. Wight, Jr. bought 4,000 shares; the company also authorized a $300 million share buyback.

Shares of Vornado Realty Trust (NYSE:VNO - Get Free Report) have been given an average recommendation of "Hold" by the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $36.3333.

Several equities analysts have recently weighed in on VNO shares. Piper Sandler reduced their price target on Vornado Realty Trust from $36.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, April 1st. Weiss Ratings raised Vornado Realty Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 9th. Morgan Stanley reduced their target price on Vornado Realty Trust from $32.00 to $28.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. BMO Capital Markets upped their price target on Vornado Realty Trust from $33.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Finally, Truist Financial increased their price target on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the stock a "hold" rating in a report on Friday, June 26th.

Insider Activity at Vornado Realty Trust

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

Hedge Funds Weigh In On Vornado Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Danske Bank A S purchased a new stake in shares of Vornado Realty Trust in the 3rd quarter valued at about $28,000. Farmers & Merchants Investments Inc. grew its holdings in shares of Vornado Realty Trust by 512.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 718 shares in the last quarter. Essential Partners LLC grew its holdings in shares of Vornado Realty Trust by 186.9% during the first quarter. Essential Partners LLC now owns 1,182 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 770 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Vornado Realty Trust in the third quarter worth approximately $33,000. Finally, Employees Retirement System of Texas bought a new position in shares of Vornado Realty Trust in the fourth quarter worth approximately $36,000. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Stock Performance

VNO traded down $0.15 on Tuesday, hitting $40.55. The company's stock had a trading volume of 115,192 shares, compared to its average volume of 1,936,541. The company's 50 day simple moving average is $34.67 and its 200-day simple moving average is $31.50. The firm has a market cap of $7.63 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 2.04 and a beta of 1.53. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37. 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 data 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). Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The business had revenue of $459.11 million during the quarter, compared to analysts' expectations of $431.71 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The firm's quarterly revenue was down .5% on a year-over-year basis. Analysts forecast that Vornado Realty Trust will post 2.34 EPS for the current year.

Vornado Realty Trust announced that its board has authorized a share buyback program on Wednesday, April 29th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

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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