JPMorgan Chase & Co. Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $33.00

Vornado Realty Trust (NYSE:VNO) had its target price decreased by JPMorgan Chase & Co. from $41.00 to $33.00 in a research report report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Piper Sandler cut their target price on shares of Vornado Realty Trust from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, February 11th. Evercore reduced their price target on shares of Vornado Realty Trust from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Truist Financial decreased their price target on shares of Vornado Realty Trust from $34.00 to $29.00 and set a “hold” rating on the stock in a research note on Tuesday, March 17th. Finally, Barclays lowered their price objective on Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Vornado Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $36.40.

Vornado Realty Trust Stock Performance

NYSE VNO opened at $24.71 on Wednesday. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 5.90, a PEG ratio of 1.38 and a beta of 1.53. The stock has a 50-day moving average of $28.92 and a 200 day moving average of $34.17. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 1.44. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $43.37.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, February 9th. The real estate investment trust reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). Vornado Realty Trust had a net margin of 49.99% and a return on equity of 18.64%. The business had revenue of $453.71 million during the quarter, compared to analyst estimates of $440.23 million. During the same period in the previous year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts anticipate that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Vornado Realty Trust

Large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. raised its position in shares of Vornado Realty Trust by 6.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,533 shares of the real estate investment trust’s stock valued at $351,000 after buying an additional 680 shares during the last quarter. Corient Private Wealth LLC boosted its position in Vornado Realty Trust by 14.0% during the fourth quarter. Corient Private Wealth LLC now owns 45,759 shares of the real estate investment trust’s stock worth $1,523,000 after acquiring an additional 5,602 shares during the last quarter. Hsbc Holdings PLC grew its stake in Vornado Realty Trust by 17.2% during the 4th quarter. Hsbc Holdings PLC now owns 303,616 shares of the real estate investment trust’s stock valued at $10,106,000 after acquiring an additional 44,559 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Vornado Realty Trust during the 4th quarter valued at about $86,000. Finally, Pacer Advisors Inc. raised its holdings in Vornado Realty Trust by 0.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,497,296 shares of the real estate investment trust’s stock valued at $49,830,000 after acquiring an additional 7,559 shares during the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a self‐administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long‐term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street‐level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.