Vornado Realty Trust (NYSE:VNO) Sets New 1-Year High – Should You Buy?

Vornado Realty Trust (NYSE:VNO)’s share price reached a new 52-week high on Friday . The stock traded as high as $40.29 and last traded at $40.15, with a volume of 45717 shares changing hands. The stock had previously closed at $39.42.

Analysts Set New Price Targets

VNO has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research note on Thursday, September 12th. BMO Capital Markets raised Vornado Realty Trust from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Barclays raised their target price on Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a report on Wednesday, August 14th. Bank of America boosted their price target on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Finally, StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.43.

Vornado Realty Trust Stock Down 0.2 %

The firm’s fifty day simple moving average is $34.40 and its 200 day simple moving average is $29.10. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 262.27 and a beta of 1.65.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 EPS 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 firm had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts predict that Vornado Realty Trust will post 2.17 earnings per share for the current year.

Insider Activity

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $28.19, for a total transaction of $56,380.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at $85,528.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.14% of the company’s stock.

Institutional Trading of Vornado Realty Trust

A number of large investors have recently made changes to their positions in the company. Pinebridge Investments L.P. purchased a new position in Vornado Realty Trust during the 4th quarter worth $2,320,000. Sei Investments Co. increased its position in Vornado Realty Trust by 5.7% in the 1st quarter. Sei Investments Co. now owns 469,262 shares of the real estate investment trust’s stock valued at $13,501,000 after acquiring an additional 25,374 shares during the period. National Bank of Canada FI increased its position in Vornado Realty Trust by 7.9% in the 1st quarter. National Bank of Canada FI now owns 917,100 shares of the real estate investment trust’s stock valued at $26,385,000 after acquiring an additional 67,100 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Vornado Realty Trust during the 1st quarter valued at approximately $12,824,000. Finally, Nomura Holdings Inc. lifted its position in Vornado Realty Trust by 2,410.2% during the 4th quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock worth $27,488,000 after acquiring an additional 934,271 shares during the period. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.