Key Points
- Director Russell Wight, Jr. bought 4,000 shares of Vornado Realty Trust at $16.94 each, spending a total of $67,760. The purchase lifted his ownership to 13,000 shares, a 44.44% increase.
- Vornado recently reported quarterly earnings of -$0.12 per share, missing analyst expectations, though revenue of $459.11 million came in above estimates. The company also said revenue was slightly lower than a year ago.
- The board approved a $300 million stock repurchase program, signaling management may view the shares as undervalued. Meanwhile, analysts currently have a consensus Hold rating with an average price target of $34.27.
Vornado Realty Trust (NYSE:VNO - Get Free Report) Director Russell Wight, Jr. bought 4,000 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average price of $16.94 per share, with a total value of $67,760.00. Following the purchase, the director owned 13,000 shares in the company, valued at $220,220. This trade represents a 44.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Vornado Realty Trust Price Performance
Shares of NYSE:VNO opened at $38.29 on Thursday. The business has a 50 day moving average price of $30.61 and a 200 day moving average price of $31.10. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $43.37. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.94 and a beta of 1.56. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 1.54.
Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The business had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.72 million. Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. Vornado Realty Trust's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. Research analysts predict that Vornado Realty Trust will post 2.34 earnings per share for the current year.
Vornado Realty Trust declared that its board has approved a stock repurchase plan on Wednesday, April 29th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On Vornado Realty Trust
A number of hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in shares of Vornado Realty Trust by 4.8% in the 4th quarter. Farther Finance Advisors LLC now owns 7,706 shares of the real estate investment trust's stock worth $256,000 after buying an additional 351 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Vornado Realty Trust by 2.0% in the 4th quarter. Signaturefd LLC now owns 19,976 shares of the real estate investment trust's stock worth $665,000 after buying an additional 389 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Vornado Realty Trust by 1.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 39,320 shares of the real estate investment trust's stock worth $1,504,000 after buying an additional 391 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Vornado Realty Trust by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 38,500 shares of the real estate investment trust's stock worth $1,001,000 after buying an additional 400 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Vornado Realty Trust by 15.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,976 shares of the real estate investment trust's stock worth $121,000 after buying an additional 400 shares in the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
VNO has been the subject of several recent research reports. Weiss Ratings raised Vornado Realty Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. Wall Street Zen cut Vornado Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. Barclays cut their price target on Vornado Realty Trust from $33.00 to $28.00 and set an "underweight" rating for the company in a report on Thursday, February 26th. Citigroup upped their price target on Vornado Realty Trust from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Finally, Mizuho cut their price target on Vornado Realty Trust from $40.00 to $34.00 and set an "outperform" rating for the company in a report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $34.27.
Check Out Our Latest Stock Analysis on VNO
Vornado Realty Trust Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
