Key Points
- Director Michael Fascitelli sold 133,350 shares of Vornado Realty Trust at an average price of $36.62, totaling about $4.88 million. After the sale, he still owned 475,161 shares, and the transaction cut his position by 21.91%.
- Vornado reported mixed quarterly results, missing EPS estimates with a loss of $0.12 per share, but revenue of $459.11 million came in above expectations. The company also said quarterly revenue declined 0.5% year over year.
- The company authorized a $300 million share buyback in late April, allowing it to repurchase up to 5.4% of its stock. Analysts currently rate VNO a consensus Hold with an average price target of $35.42.
Vornado Realty Trust (NYSE:VNO - Get Free Report) Director Michael Fascitelli sold 133,350 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total value of $4,883,277.00. Following the sale, the director owned 475,161 shares in the company, valued at approximately $17,400,395.82. This trade represents a 21.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Vornado Realty Trust Stock Performance
Shares of VNO opened at $37.81 on Friday. Vornado Realty Trust has a 1 year low of $24.57 and a 1 year high of $43.37. The stock has a market capitalization of $7.11 billion, a PE ratio of 10.39, a PEG ratio of 1.84 and a beta of 1.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 6.14 and a current ratio of 6.14. The stock has a 50-day simple moving average of $32.09 and a 200-day simple moving average of $31.18.
Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). The firm had revenue of $459.11 million for the quarter, compared to analysts' expectations of $431.71 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The firm's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, analysts predict that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.
Vornado Realty Trust declared that its board has approved a stock repurchase program on Wednesday, April 29th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. Barclays dropped their price objective on shares of Vornado Realty Trust from $33.00 to $28.00 and set an "underweight" rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Citigroup increased their target price on Vornado Realty Trust from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Scotiabank raised their price target on Vornado Realty Trust from $33.00 to $38.00 and gave the company a "sector perform" rating in a research note on Thursday. Finally, LADENBURG THALM/SH SH lifted their price target on Vornado Realty Trust from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $35.42.
Read Our Latest Stock Report on VNO
Institutional Trading of Vornado Realty Trust
Several institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake in Vornado Realty Trust by 22.9% in the first quarter. Parallel Advisors LLC now owns 11,232 shares of the real estate investment trust's stock valued at $292,000 after acquiring an additional 2,090 shares in the last quarter. Essential Partners LLC lifted its holdings in shares of Vornado Realty Trust by 186.9% in the 1st quarter. Essential Partners LLC now owns 1,182 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 770 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Vornado Realty Trust by 5.7% in the 1st quarter. Bank of America Corp DE now owns 1,266,476 shares of the real estate investment trust's stock valued at $32,916,000 after purchasing an additional 68,267 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Vornado Realty Trust in the 1st quarter valued at about $373,000. Finally, Lodge Hill Capital LLC acquired a new stake in shares of Vornado Realty Trust in the 1st quarter valued at about $11,046,000. Hedge funds and other institutional investors own 90.02% of the company's stock.
About Vornado Realty Trust
(
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.
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