BofA Securities slashes price target on Vornado Realty Trust [VNO] – find out why.

Vornado Realty Trust [NYSE: VNO] closed the trading session at $44.10 on 09/24/21. The day’s price range saw the stock hit a low of $43.65, while the highest price level was $44.66. The company report on September 14, 2021 that Vornado Announces Pricing of Public Offering of $300 Million 4.45% Series O Cumulative Redeemable Preferred Shares and Calls for Redemption All of its $300 Million 5.70% Series K Cumulative Redeemable Preferred Shares.

VORNADO REALTY TRUST (NYSE: VNO) announced the pricing of a public offering of $300 million perpetual 4.45% Series O Cumulative Redeemable Preferred Shares, at a price of $25.00 per share, pursuant to an effective registration statement. The offering is expected to close September 22, 2021, subject to customary closing conditions. The Company may redeem the Series O Preferred Shares at a redemption price of $25.00 per share on and after September 22, 2026. BofA Securities, J.P. Morgan, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers.

The Company will use the net proceeds for the redemption of its 5.70% Series K Cumulative Redeemable Preferred Shares pursuant to the terms thereof.

The stocks have a year to date performance of 18.10 percent and weekly performance of 6.83 percent. The stock has been moved at -6.77 percent over the last six months. The stock has performed 5.76 percent around the most recent 30 days and changed -8.66 percent over the most recent 3-months.

If compared to the average trading volume of 1.37M shares, VNO reached to a volume of 2328948 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Vornado Realty Trust [VNO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VNO shares is $46.09 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VNO stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Vornado Realty Trust shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 24, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Sell. The new note on the price target was released on May 25, 2021, representing the official price target for Vornado Realty Trust stock. Previously, the target price had yet another drop from $48 to $44, while BofA Securities kept a Underperform rating on VNO stock. On January 22, 2021, analysts increased their price target for VNO shares from 43 to 46.

The Average True Range (ATR) for Vornado Realty Trust is set at 1.04, with the Price to Sales ratio for VNO stock in the period of the last 12 months amounting to 5.53. The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 11.55. Price to Free Cash Flow for VNO in the course of the last twelve months was 38.14.

VNO stock trade performance evaluation

Vornado Realty Trust [VNO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.83. With this latest performance, VNO shares gained by 5.76% in over the last four-week period, additionally sinking by -6.77% over the last 6 months – not to mention a rise of 35.36% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VNO stock in for the last two-week period is set at 63.86, with the RSI for the last a single of trading hit 72.49, and the three-weeks RSI is set at 58.02 for Vornado Realty Trust [VNO]. The present Moving Average for the last 50 days of trading for this stock 42.45, while it was recorded at 42.52 for the last single week of trading, and 43.27 for the last 200 days.

Vornado Realty Trust [VNO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Vornado Realty Trust [VNO] shares currently have an operating margin of -4.28 and a Gross Margin at +22.20. Vornado Realty Trust’s Net Margin is presently recorded at -19.44.

Return on Total Capital for VNO is now -0.41, given the latest momentum, and Return on Invested Capital for the company is -2.39. Return on Equity for this stock declined to -4.48, with Return on Assets sitting at -1.72. When it comes to the capital structure of this company, Vornado Realty Trust [VNO] has a Total Debt to Total Equity ratio set at 119.93. Additionally, VNO Total Debt to Total Capital is recorded at 54.53, with Total Debt to Total Assets ending up at 48.30. Long-Term Debt to Equity for the company is recorded at 97.67, with the Long-Term Debt to Total Capital now at 36.37.

Reflecting on the efficiency of the workforce at the company, Vornado Realty Trust [VNO] managed to generate an average of -$102,485 per employee. Receivables Turnover for the company is 1.92 with a Total Asset Turnover recorded at a value of 0.09.

Earnings per share (EPS) analysis for Vornado Realty Trust [VNO] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VNO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Vornado Realty Trust go to 17.33%.

Vornado Realty Trust [VNO]: Insider Ownership positions

There are presently around $6,570 million, or 79.30% of VNO stock, in the hands of institutional investors. The top three institutional holders of VNO stocks are: VANGUARD GROUP INC with ownership of 27,281,259, which is approximately 1.3% of the company’s market cap and around 8.53% of the total institutional ownership; NORGES BANK, holding 18,082,373 shares of the stock with an approximate value of $797.43 million in VNO stocks shares; and BLACKROCK INC., currently with $709.96 million in VNO stock with ownership of nearly 1.166% of the company’s market capitalization.

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Positions in Vornado Realty Trust stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 190 institutional holders increased their position in Vornado Realty Trust [NYSE:VNO] by around 12,124,339 shares. Additionally, 190 investors decreased positions by around 10,514,777 shares, while 68 investors held positions by with 126,350,019 shares. The mentioned changes placed institutional holdings at 148,989,135 shares, according to the latest SEC report filing. VNO stock had 50 new institutional investments in for a total of 1,836,833 shares, while 38 institutional investors sold positions of 1,263,089 shares during the same period.

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