Vornado Realty Trust (NYSE:VNO) Share Price Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Vornado Realty Trust shares crossed above their 200-day moving average of $34.28, reaching as high as $34.77 before last trading at $33.8720.
• Analyst sentiment remains mixed: four analysts rate the stock a Buy, five Hold, and four Sell, producing an overall “Hold” rating and a consensus price target of $39.55.
• Vornado reported quarterly EPS of $0.08, well below the $0.57 consensus estimate, although revenue of $462.24 million exceeded expectations and rose 4.7% year over year.

Vornado Realty Trust (NYSE:VNO - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $34.28 and traded as high as $34.77. Vornado Realty Trust shares last traded at $33.8720, with a volume of 1,768,688 shares traded.

Analyst Upgrades and Downgrades

VNO has been the subject of a number of research analyst reports. BMO Capital Markets increased their price target on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the company an "outperform" rating in a report on Monday, June 15th. Barclays boosted their price objective on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. LADENBURG THALM/SH SH upped their target price on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Piper Sandler increased their target price on shares of Vornado Realty Trust from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Finally, UBS Group downgraded shares of Vornado Realty Trust to an "underweight" rating in a research report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $39.55.

Vornado Realty Trust Price Performance

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 cap of $6.32 billion, a price-to-earnings ratio of 1,694.45, a price-to-earnings-growth ratio of 1.53 and a beta of 1.53. The company has a fifty day simple moving average of $37.46 and a two-hundred day simple moving average of $34.28.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.49). The firm had revenue of $462.24 million during the quarter, compared to analysts' expectations of $454.46 million. Vornado Realty Trust had a net margin of 3.71% and a return on equity of 1.37%. The company's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. On average, equities research analysts anticipate that Vornado Realty Trust will post 2.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vornado Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its holdings in shares of Vornado Realty Trust by 35.5% in 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 purchasing an additional 3,688 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Vornado Realty Trust by 33.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 30,485 shares of the real estate investment trust's stock worth $1,198,000 after purchasing an additional 7,643 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Vornado Realty Trust during the 2nd quarter worth approximately $222,000. Squarepoint Ops LLC raised its position 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 raised its position in shares of Vornado Realty Trust by 272.7% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops office, retail and mixed-use properties. The company's portfolio is concentrated in New York City, particularly in Manhattan, where it operates prominent office buildings and retail destinations in major commercial districts.

Vornado's activities include leasing office space to businesses, operating retail properties, managing building services and pursuing redevelopment opportunities.

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