Vornado Realty Trust (NYSE:VNO) Stock Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• Vornado Realty Trust shares fell below their 50-day moving average, trading as low as $34.35 and last changing hands at $34.47, versus a 50-day average of $34.95.
• Analyst sentiment is mixed but leans cautious: the consensus rating is “Hold,” with a $38.91 price target, while recent firms including Weiss Ratings and UBS downgraded the stock and others lowered price targets.
• The company missed quarterly EPS expectations, reporting $0.08 versus the $0.57 consensus, although revenue rose 4.7% year over year to $462.24 million. An executive also sold 90,000 shares, reducing his position by 45%.

Vornado Realty Trust (NYSE:VNO - Get Free Report) shares passed below its 50 day moving average during trading on Friday. The stock has a 50 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.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. 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. Barclays increased their price target on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. Piper Sandler dropped their price target on shares of Vornado Realty Trust from $44.00 to $37.00 and set a "neutral" rating on the stock in a research note on Monday, October 12th. Truist Financial dropped their price target on shares of Vornado Realty Trust from $39.00 to $35.00 and set a "hold" rating on the stock in a research note on Monday, September 21st. 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 issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $38.91.

Vornado Realty Trust Price Performance

The firm has a market cap of $6.44 billion, a PE ratio of 1,724.36, a P/E/G ratio of 1.65 and a beta of 1.58. The firm's fifty day simple moving average is $34.95 and its two-hundred day simple moving average is $33.39. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.56.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced 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). The firm had revenue of $462.24 million during 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 business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. As a group, research analysts expect that Vornado Realty Trust will post 2.47 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Haim Chera sold 90,000 shares of the company's stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $34.01, for a total value of $3,060,900.00. Following the completion of the transaction, the executive vice president owned 110,000 shares of the company's stock, valued at approximately $3,741,100. This represents a 45.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.00% of the company's stock.

Hedge Funds Weigh In On Vornado Realty Trust

Several large investors have recently made changes to their positions in VNO. Resolution Capital Ltd lifted its holdings in shares of Vornado Realty Trust by 34.1% in 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 last quarter. Dimensional Fund Advisors LP grew its position in Vornado Realty Trust by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,514,173 shares of the real estate investment trust's stock worth $65,340,000 after acquiring an additional 13,017 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Vornado Realty Trust by 129.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust's stock worth $36,344,000 after acquiring an additional 788,067 shares in the last quarter. Bank of America Corp DE grew its position in Vornado Realty Trust by 5.7% in the first quarter. Bank of America Corp DE now owns 1,266,476 shares of the real estate investment trust's stock worth $32,916,000 after acquiring an additional 68,267 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Vornado Realty Trust by 19.6% during the first quarter. Sei Investments Co. now owns 1,071,074 shares of the real estate investment trust's stock worth $27,837,000 after acquiring an additional 175,719 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other 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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