Insider Selling: Vornado Realty Trust (NYSE:VNO) EVP Sells $3,060,900.00 in Stock

Key Points

• Vornado Realty Trust EVP Haim Chera sold 90,000 shares for approximately $3.06 million at an average price of $34.01, reducing his position by 45% to 110,000 shares.
• Vornado shares recently traded at $33.58, within a 12-month range of $24.57 to $41.85. The REIT’s latest quarterly EPS of $0.08 missed analyst expectations of $0.57, although revenue rose 4.7% year over year.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $39.55; institutional investors and hedge funds own approximately 90.02% of its shares.

Vornado Realty Trust (NYSE:VNO - Get Free Report) EVP Haim Chera sold 90,000 shares of the company'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 completion of the sale, the executive vice president owned 110,000 shares in the company, valued at approximately $3,741,100. This represents a 45.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Vornado Realty Trust Stock Performance

Shares of NYSE VNO traded down $0.30 during midday trading on Thursday, reaching $33.58. 1,621,143 shares of the stock were exchanged, compared to its average volume of 1,792,858. 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 firm has a market cap of $6.27 billion, a price-to-earnings ratio of 1,680.04, a PEG ratio of 1.62 and a beta of 1.53. The firm has a 50-day simple moving average of $37.37 and a two-hundred day simple moving average of $34.33. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $41.85.

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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $462.24 million during the quarter, compared to analyst estimates of $454.46 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The business's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Vornado Realty Trust will post 2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Vornado Realty Trust

A number of hedge funds have recently made changes to their positions in VNO. Sequoia Financial Advisors LLC raised its holdings in shares of Vornado Realty Trust by 35.5% during the second quarter. Sequoia Financial Advisors LLC now owns 14,064 shares of the real estate investment trust's stock valued at $553,000 after acquiring an additional 3,688 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Vornado Realty Trust by 33.5% in the second quarter. Integrated Wealth Concepts LLC now owns 30,485 shares of the real estate investment trust's stock worth $1,198,000 after acquiring an additional 7,643 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Vornado Realty Trust during the second quarter worth approximately $222,000. Squarepoint Ops LLC increased its position in shares of Vornado Realty Trust by 65.9% during the second 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 in the last quarter. Finally, Allworth Financial LP increased its position 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 purchasing an additional 4,740 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

Wall Street Analyst Weigh In

VNO has been the topic of several recent analyst reports. Citigroup increased their target price on shares of Vornado Realty Trust from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. UBS Group cut Vornado Realty Trust to an "underweight" rating in a report on Wednesday, July 22nd. LADENBURG THALM/SH SH increased their price target on Vornado Realty Trust from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Mizuho raised their price objective on Vornado Realty Trust from $34.00 to $42.00 and gave the company an "outperform" rating in a report on Tuesday, July 21st. Finally, Truist Financial cut their price objective on Vornado Realty Trust from $39.00 to $35.00 and set a "hold" rating for the company in a research report on Monday, September 21st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $39.55.

Vornado Realty Trust Company Profile

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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