Vornado Realty Trust (NYSE:VNO) Price Target Lowered to $28.00 at Truist Financial

Vornado Realty Trust (NYSE:VNOGet Rating) had its price objective lowered by Truist Financial to $28.00 in a research report released on Wednesday morning, Stock Target Advisor reports.

Several other research firms also recently issued reports on VNO. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Vornado Realty Trust from $33.00 to $25.00 and set a hold rating on the stock in a report on Thursday, October 13th. Morgan Stanley reduced their target price on shares of Vornado Realty Trust from $25.00 to $24.00 and set an underweight rating for the company in a research report on Friday, September 9th. Evercore ISI reduced their target price on shares of Vornado Realty Trust from $34.00 to $31.00 in a research report on Tuesday, September 27th. Mizuho reduced their target price on shares of Vornado Realty Trust from $30.00 to $25.00 and set an underperform rating for the company in a research report on Wednesday, October 19th. Finally, Piper Sandler reduced their target price on shares of Vornado Realty Trust from $20.00 to $17.00 and set an underweight rating for the company in a research report on Friday, October 7th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $27.14.

Vornado Realty Trust Stock Performance

VNO opened at $23.98 on Wednesday. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.52. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 47.96, a PEG ratio of 2.36 and a beta of 1.24. Vornado Realty Trust has a 52-week low of $20.03 and a 52-week high of $47.26. The firm’s fifty day simple moving average is $23.69 and its two-hundred day simple moving average is $28.06.

Vornado Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 8.84%. The ex-dividend date was Friday, November 4th. Vornado Realty Trust’s payout ratio is currently 424.00%.

Institutional Investors Weigh In On Vornado Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of VNO. State Street Corp increased its position in Vornado Realty Trust by 10.8% during the first quarter. State Street Corp now owns 13,527,974 shares of the real estate investment trust’s stock worth $613,088,000 after purchasing an additional 1,319,443 shares during the last quarter. Millennium Management LLC increased its position in shares of Vornado Realty Trust by 1,840.4% during the second quarter. Millennium Management LLC now owns 1,335,925 shares of the real estate investment trust’s stock valued at $38,194,000 after acquiring an additional 1,267,078 shares during the last quarter. First Pacific Advisors LP acquired a new stake in shares of Vornado Realty Trust during the third quarter valued at about $23,168,000. Price T Rowe Associates Inc. MD increased its position in shares of Vornado Realty Trust by 22.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,868,704 shares of the real estate investment trust’s stock valued at $139,196,000 after acquiring an additional 891,435 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Vornado Realty Trust by 10.9% during the second quarter. Franklin Resources Inc. now owns 7,854,642 shares of the real estate investment trust’s stock valued at $224,563,000 after acquiring an additional 773,547 shares during the last quarter. 74.67% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

(Get Rating)

Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.

Read More

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

Receive News & Ratings for Vornado Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vornado Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.