Truist Financial Has Lowered Expectations for Vornado Realty Trust (NYSE:VNO) Stock Price

Vornado Realty Trust (NYSE:VNO) had its target price cut by equities researchers at Truist Financial from $40.00 to $36.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective suggests a potential upside of 5.22% from the stock’s current price.

VNO has been the subject of a number of other reports. Evercore ISI cut their target price on Vornado Realty Trust from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vornado Realty Trust in a report on Wednesday, December 10th. Scotiabank lowered their price objective on shares of Vornado Realty Trust from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, November 13th. Piper Sandler reduced their target price on Vornado Realty Trust from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Finally, Bank of America decreased their target price on Vornado Realty Trust from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, August 25th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.46.

Vornado Realty Trust Stock Performance

Shares of NYSE:VNO opened at $34.21 on Tuesday. Vornado Realty Trust has a 12-month low of $29.68 and a 12-month high of $45.37. The company’s 50 day moving average price is $36.58 and its two-hundred day moving average price is $38.28. The firm has a market cap of $6.57 billion, a PE ratio of 8.15, a PEG ratio of 6.08 and a beta of 1.47. The company has a quick ratio of 5.58, a current ratio of 5.58 and a debt-to-equity ratio of 1.42.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The business had revenue of $453.70 million during the quarter, compared to analysts’ expectations of $435.19 million. Vornado Realty Trust had a return on equity of 19.48% and a net margin of 49.91%.The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. Equities research analysts predict that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Institutional Investors Weigh In On Vornado Realty Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new position in shares of Vornado Realty Trust during the 3rd quarter valued at $28,000. Twin Tree Management LP lifted its position in shares of Vornado Realty Trust by 102.1% during the 1st quarter. Twin Tree Management LP now owns 785 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 38,585 shares in the last quarter. Advisory Services Network LLC purchased a new position in Vornado Realty Trust in the third quarter worth $33,000. Westside Investment Management Inc. increased its holdings in Vornado Realty Trust by 100.0% during the third quarter. Westside Investment Management Inc. now owns 886 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 443 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in Vornado Realty Trust in the third quarter valued at about $39,000. 90.02% of the stock is currently owned by institutional investors.

About Vornado Realty Trust

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