Key Points
- Insider sale: EVP Haim Chera sold 90,000 Vornado Realty Trust shares for approximately $3.06 million, reducing his position by 45% to 110,000 shares.
- Mixed financial performance: Vornado reported quarterly EPS of $0.08, missing the $0.57 consensus estimate, while revenue of $462.24 million exceeded expectations and rose 4.7% year over year.
- Analyst sentiment remains cautious: The stock has an average “Hold” rating and a consensus price target of $39.55, with four Buy, five Hold, and four Sell ratings. Institutional investors own approximately 90.02% of the company.
Vornado Realty Trust (NYSE:VNO - Get Free Report) EVP Haim Chera sold 90,000 shares of the business's stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total value of $3,060,900.00. Following the sale, the executive vice president directly owned 110,000 shares in the company, valued at $3,741,100. This trade represents a 45.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Vornado Realty Trust Stock Performance
NYSE VNO opened at $33.58 on Friday. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $41.85. The company has a market capitalization of $6.27 billion, a P/E ratio of 1,680.04, a PEG ratio of 1.62 and a beta of 1.58. The business has a 50 day moving average price of $37.26 and a 200 day moving average price of $34.39. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 5.24.
Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.49). The firm had revenue of $462.24 million for the quarter, compared to analysts' expectations of $454.46 million. Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Sell-side analysts expect that Vornado Realty Trust will post 2.42 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
VNO has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Vornado Realty Trust from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Tuesday, September 15th. UBS Group downgraded shares of Vornado Realty Trust to an "underweight" rating in a report on Wednesday, July 22nd. Weiss Ratings lowered shares of Vornado Realty Trust from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, August 4th. Mizuho raised their price objective on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley cut shares of Vornado Realty Trust from an "equal weight" rating to an "underweight" rating and set a $32.00 price objective for the company. in a research note on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, Vornado Realty Trust currently has an average rating of "Hold" and a consensus price target of $39.55.
Read Our Latest Report on VNO
Institutional Trading of Vornado Realty Trust
A number of large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its position in Vornado Realty Trust by 35.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,064 shares of the real estate investment trust's stock worth $553,000 after purchasing an additional 3,688 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Vornado Realty Trust by 33.5% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 30,485 shares of the real estate investment trust's stock valued at $1,198,000 after purchasing an additional 7,643 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Vornado Realty Trust during the 2nd quarter worth about $222,000. Squarepoint Ops LLC boosted its stake in shares of Vornado Realty Trust by 65.9% during the 2nd quarter. Squarepoint Ops LLC now owns 133,928 shares of the real estate investment trust's stock worth $5,263,000 after purchasing an additional 53,208 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Vornado Realty Trust by 272.7% during the second quarter. Allworth Financial LP now owns 6,478 shares of the real estate investment trust's stock worth $255,000 after buying an additional 4,740 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.
Vornado Realty Trust Company Profile
(
Get Free Report)
Vornado Realty Trust (NYSE:VNO) is a real estate investment trust that owns, manages and develops commercial properties, with a primary focus on office and retail assets in the New York metropolitan area. The company's portfolio includes office towers, retail properties and mixed-use developments in prominent locations throughout Manhattan.
Vornado is particularly active in the Penn District, a large-scale redevelopment area surrounding Pennsylvania Station in Midtown Manhattan. Its properties serve a range of tenants, including businesses, retailers, restaurants and other commercial occupants.
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