Vornado Realty Trust (NYSE:VNO – Get Free Report)’s stock price crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $34.95 and traded as low as $34.35. Vornado Realty Trust shares last traded at $34.47, with a volume of 1,582,552 shares changing hands.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on VNO shares. Barclays raised their price objective on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Scotiabank lowered their price target on shares of Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, September 17th. Mizuho boosted 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 report on Tuesday, July 21st. UBS Group lowered Vornado Realty Trust to an “underweight” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings cut Vornado Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $38.91.
View Our Latest Stock Analysis on Vornado Realty Trust
Vornado Realty Trust Trading Down 2.0%
The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 1,724.36, a price-to-earnings-growth ratio of 1.62 and a beta of 1.58. The company’s fifty day simple moving average is $34.95 and its two-hundred day simple moving average is $33.39.
Vornado Realty Trust (NYSE:VNO – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.49). Vornado Realty Trust had a net margin of 3.71% and a return on equity of 1.37%. The business had revenue of $462.24 million during the quarter, compared to analyst estimates of $454.46 million. During the same quarter last year, the business earned $0.56 earnings per share. Vornado Realty Trust’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that Vornado Realty Trust will post 2.47 earnings per share for the current fiscal year.
Insider Transactions at Vornado Realty Trust
In other news, EVP Haim Chera sold 90,000 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total transaction of $3,060,900.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Vornado Realty Trust
Several institutional investors have recently modified their holdings of the business. Resolution Capital Ltd lifted its holdings in shares of Vornado Realty Trust by 34.1% during the first quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock valued at $193,885,000 after purchasing an additional 1,895,846 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Vornado Realty Trust by 129.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust’s stock valued at $36,344,000 after buying an additional 788,067 shares in the last quarter. Adelante Capital Management LLC bought a new position in shares of Vornado Realty Trust in the 2nd quarter worth $27,030,000. Wellington Management Group LLP increased its stake in Vornado Realty Trust by 440.6% during the 2nd quarter. Wellington Management Group LLP now owns 598,395 shares of the real estate investment trust’s stock valued at $23,517,000 after purchasing an additional 487,710 shares in the last quarter. Finally, Lodge Hill Capital LLC purchased a new position in Vornado Realty Trust during the first quarter valued at approximately $11,046,000. 90.02% of the stock is owned by institutional investors.
Vornado Realty Trust Company Profile
Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops commercial properties, with a primary focus on premier office and retail assets in New York City. The company’s portfolio includes office buildings, retail properties and mixed-use developments located in high-profile business and shopping districts.
Vornado is particularly active in Manhattan, where it has pursued large-scale development and redevelopment initiatives in the Penn District surrounding Pennsylvania Station.
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