Vornado Realty Trust (NYSE:VNO) Hits New 52-Week High – Here’s What Happened

Shares of Vornado Realty Trust (NYSE:VNO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.65 and last traded at $43.64, with a volume of 25964 shares trading hands. The stock had previously closed at $43.24.

Analysts Set New Price Targets

A number of equities analysts have commented on VNO shares. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. Compass Point boosted their target price on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Truist Financial raised their price target on Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Piper Sandler reissued a “neutral” rating and issued a $44.00 price objective (up previously from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. Finally, Barclays raised their target price on Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.70.

Vornado Realty Trust Stock Performance

The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. The firm has a market cap of $8.34 billion, a P/E ratio of 486.56 and a beta of 1.65. The firm has a fifty day moving average of $37.52 and a 200-day moving average of $30.41.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The business had revenue of $450.27 million for the quarter, compared to the consensus estimate of $439.28 million. During the same period last year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. Research analysts predict that Vornado Realty Trust will post 2.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VNO. Park Avenue Securities LLC lifted its stake in Vornado Realty Trust by 5.8% in the first quarter. Park Avenue Securities LLC now owns 10,036 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 553 shares during the period. State of Michigan Retirement System boosted its stake in Vornado Realty Trust by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 39,300 shares of the real estate investment trust’s stock worth $1,131,000 after acquiring an additional 900 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Vornado Realty Trust by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 101,565 shares of the real estate investment trust’s stock valued at $2,921,000 after purchasing an additional 531 shares during the period. Principal Financial Group Inc. increased its stake in Vornado Realty Trust by 2.6% in the first quarter. Principal Financial Group Inc. now owns 603,381 shares of the real estate investment trust’s stock valued at $17,359,000 after purchasing an additional 15,345 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Vornado Realty Trust by 3.3% in the first quarter. Van ECK Associates Corp now owns 72,335 shares of the real estate investment trust’s stock worth $2,081,000 after purchasing an additional 2,311 shares during the period. 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.