Vornado Realty Trust (NYSE:VNO) Hits New 1-Year High – Still a Buy?

Vornado Realty Trust (NYSE:VNO) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.92 and last traded at $40.78, with a volume of 49134 shares traded. The stock had previously closed at $40.05.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VNO shares. StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. Scotiabank increased their price target on Vornado Realty Trust from $23.00 to $33.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 4th. Compass Point boosted their price objective on Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Evercore ISI upped their target price on Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler upgraded Vornado Realty Trust from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $22.00 to $30.00 in a report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.43.

Vornado Realty Trust Trading Up 1.4 %

The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 460.67 and a beta of 1.65. The firm’s 50-day moving average is $36.09 and its 200-day moving average is $29.78. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The business had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 2.17 EPS for the current fiscal year.

Institutional Trading of Vornado Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its holdings in Vornado Realty Trust by 2,229.1% during the second quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock worth $22,502,000 after buying an additional 818,838 shares in the last quarter. Natixis bought a new stake in shares of Vornado Realty Trust in the 1st quarter worth $21,564,000. Duff & Phelps Investment Management Co. raised its holdings in shares of Vornado Realty Trust by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock valued at $51,875,000 after purchasing an additional 612,765 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Vornado Realty Trust by 324.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock valued at $20,292,000 after purchasing an additional 590,176 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Vornado Realty Trust during the first quarter valued at about $12,824,000. 90.02% of the stock is owned by hedge funds and other institutional investors.

About Vornado Realty Trust

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