Piper Sandler Has Lowered Expectations for Vornado Realty Trust (NYSE:VNO) Stock Price

Piper Sandler has lowered its price target for Vornado Realty Trust (NYSE:VNO) from $39.00 to $38.00, maintaining a "neutral" rating. This adjustment suggests a potential upside of 9.72% from the previous close. Other analysts have varied opinions, with Truist Financial raising their target to $40.00 and Mizuho lowering it to $43.00. Vornado's stock recently traded down 3.4% to $34.63, with a consensus rating of "Hold" and an average target price of $39.33. The company reported a quarterly EPS of $0.57, exceeding estimates.

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price target reduced by investment analysts at Piper Sandler from $39.00 to $38.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's price target points to a potential upside of 9.72% from the company's previous close.

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Other research analysts have also issued research reports about the stock. Truist Financial increased their price target on shares of Vornado Realty Trust from $38.00 to $40.00 and gave the stock a "hold" rating in a research note on Friday, September 12th. Mizuho decreased their price objective on shares of Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Monday, July 14th. Weiss Ratings reissued a "hold (c+)" rating on shares of Vornado Realty Trust in a research report on Wednesday, October 8th. LADENBURG THALM/SH SH started coverage on Vornado Realty Trust in a research report on Monday, October 13th. They issued a "buy" rating and a $48.00 price target for the company. Finally, Bank of America lowered their price objective on Vornado Realty Trust from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday, August 25th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $39.33.

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Vornado Realty Trust Stock Down 3.4%

Are Dividend-Paying Office REITs Finally Staging A Comeback?

Shares of VNO stock traded down $1.23 on Wednesday, reaching $34.63. 843,178 shares of the company's stock traded hands, compared to its average volume of 1,481,385. Vornado Realty Trust has a 12-month low of $29.68 and a 12-month high of $46.63. The company has a debt-to-equity ratio of 1.40, a quick ratio of 6.82 and a current ratio of 6.82. The company has a market capitalization of $6.65 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 4.57 and a beta of 1.57. The business's 50 day moving average price is $39.85 and its two-hundred day moving average price is $38.76.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.02. The firm had revenue of $453.70 million for the quarter, compared to the consensus estimate of $435.19 million. Vornado Realty Trust had a return on equity of 19.64% and a net margin of 48.49%.The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, equities analysts forecast that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Insider Transactions at Vornado Realty Trust

In other Vornado Realty Trust news, EVP Haim Chera sold 30,000 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $39.64, for a total value of $1,189,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vornado Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in Vornado Realty Trust in the 2nd quarter valued at $665,094,000. Franklin Resources Inc. increased its holdings in Vornado Realty Trust by 0.9% in the 2nd quarter. Franklin Resources Inc. now owns 12,034,746 shares of the real estate investment trust's stock valued at $460,209,000 after buying an additional 105,062 shares during the period. State Street Corp grew its position in Vornado Realty Trust by 0.5% in the second quarter. State Street Corp now owns 8,833,034 shares of the real estate investment trust's stock valued at $337,775,000 after acquiring an additional 39,767 shares during the period. JPMorgan Chase & Co. grew its position in Vornado Realty Trust by 88.1% in the second quarter. JPMorgan Chase & Co. now owns 5,004,461 shares of the real estate investment trust's stock valued at $191,371,000 after acquiring an additional 2,344,037 shares during the period. Finally, Invesco Ltd. grew its position in Vornado Realty Trust by 0.9% in the second quarter. Invesco Ltd. now owns 4,239,539 shares of the real estate investment trust's stock valued at $162,120,000 after acquiring an additional 36,355 shares during the period. Institutional investors own 90.02% of the company's stock.

Vornado Realty Trust Company Profile

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

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