Insider Selling: Vornado Realty Trust (NYSE:VNO) Director Sells $4,883,277.00 in Stock

Key Points

• Director Michael Fascitelli sold 133,350 shares of Vornado Realty Trust on June 17 for about $4.88 million at an average price of $36.62, cutting his stake by 21.91%.
• Vornado shares rose to $37.81 in Thursday trading, above both the 50-day and 200-day moving averages, with trading volume running above average.
• The company recently missed earnings per share estimates for the quarter, but it also announced a $300 million share repurchase program; analysts currently rate the stock a consensus Hold with a $35.42 price target.

Vornado Realty Trust (NYSE:VNO - Get Free Report) Director Michael Fascitelli sold 133,350 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were 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. The trade was a 21.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Vornado Realty Trust Stock Performance

Shares of NYSE:VNO traded up $1.35 during trading on Thursday, hitting $37.81. The stock had a trading volume of 2,502,573 shares, compared to its average volume of 1,694,958. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $43.37. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.84 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. The stock has a 50-day simple moving average of $32.09 and a two-hundred day simple moving average of $31.18.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The firm had revenue of $459.11 million during the quarter, compared to analysts' expectations of $431.71 million. During the same quarter in the prior year, the company earned $0.63 EPS. Vornado Realty Trust's quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts expect that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.

Vornado Realty Trust announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 29th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Institutional Trading of Vornado Realty Trust

A number of hedge funds have recently added to or reduced their stakes in VNO. Norges Bank purchased a new position in Vornado Realty Trust in the fourth quarter valued at $579,709,000. Resolution Capital Ltd grew its position in shares of Vornado Realty Trust by 34.1% during the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust's stock valued at $193,885,000 after acquiring an additional 1,895,846 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Vornado Realty Trust by 21.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust's stock valued at $301,300,000 after acquiring an additional 1,598,643 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Vornado Realty Trust by 393,598.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,051,175 shares of the real estate investment trust's stock valued at $34,983,000 after acquiring an additional 1,050,908 shares during the period. Finally, GRS Advisors LLC purchased a new position in shares of Vornado Realty Trust in the 3rd quarter valued at about $32,082,000. 90.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. Barclays lowered their price target on shares of Vornado Realty Trust from $33.00 to $28.00 and set an "underweight" rating on the stock in a report on Thursday, February 26th. Weiss Ratings raised Vornado Realty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 9th. Truist Financial decreased their price objective on Vornado Realty Trust from $29.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, March 31st. Finally, LADENBURG THALM/SH SH boosted their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $35.42.

About Vornado Realty Trust

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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