Vornado Realty Trust (NYSE:VNO) Shares Down 4.8% - Here's Why

Vornado Realty Trust (NYSE:VNO - Get Free Report) shares were down 4.8% during mid-day trading on Tuesday . The company traded as low as $38.20 and last traded at $37.66. Approximately 484,972 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,583,085 shares. The stock had previously closed at $39.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VNO shares. Truist Financial boosted their price target on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. The Goldman Sachs Group increased their price target on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the stock a "sell" rating in a research note on Tuesday, February 25th. Barclays boosted their price target on shares of Vornado Realty Trust from $31.00 to $32.00 and gave the stock an "underweight" rating in a research note on Friday, March 14th. Morgan Stanley increased their target price on shares of Vornado Realty Trust from $26.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Finally, Wall Street Zen raised shares of Vornado Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $37.91.

Vornado Realty Trust Trading Down 2.8%

The company has a market cap of $7.39 billion, a price-to-earnings ratio of 74.03, a price-to-earnings-growth ratio of 14.84 and a beta of 1.52. The company has a debt-to-equity ratio of 1.81, a current ratio of 4.10 and a quick ratio of 4.10. The business's fifty day moving average price is $38.04 and its 200 day moving average price is $39.31.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.11. Vornado Realty Trust had a return on equity of 3.83% and a net margin of 9.17%. The firm had revenue of $461.58 million during the quarter, compared to the consensus estimate of $452.68 million. During the same quarter in the prior year, the company earned $0.55 EPS. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts anticipate that Vornado Realty Trust will post 2.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vornado Realty Trust news, EVP Haim Chera sold 20,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $37.98, for a total transaction of $759,600.00. Following the completion of the sale, the executive vice president now directly owns 30,000 shares of the company's stock, valued at $1,139,400. This trade represents a 40.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vornado Realty Trust

A number of institutional investors have recently modified their holdings of VNO. Twin Tree Management LP increased its position in Vornado Realty Trust by 102.1% during the 1st quarter. Twin Tree Management LP now owns 785 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 38,585 shares in the last quarter. UMB Bank n.a. grew its position in Vornado Realty Trust by 67.7% during the first quarter. UMB Bank n.a. now owns 1,295 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 523 shares during the period. FIL Ltd purchased a new stake in shares of Vornado Realty Trust in the fourth quarter valued at approximately $49,000. Assetmark Inc. lifted its stake in Vornado Realty Trust by 23.8% in the 4th quarter. Assetmark Inc. now owns 1,488 shares of the real estate investment trust's stock valued at $63,000 after buying an additional 286 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Vornado Realty Trust by 61.6% during the fourth quarter. Blue Trust Inc. now owns 1,776 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 677 shares in the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully - integrated equity real estate investment trust.

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