Vornado Realty Trust (NYSE:VNO) Shares Gap Down - Should You Sell?

Vornado Realty Trust (NYSE:VNO - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $38.46, but opened at $36.91. Vornado Realty Trust shares last traded at $37.57, with a volume of 695,470 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VNO. Morgan Stanley lifted their price target on Vornado Realty Trust from $26.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Barclays lifted their target price on shares of Vornado Realty Trust from $31.00 to $32.00 and gave the stock an "underweight" rating in a research report on Friday, March 14th. Truist Financial upped their price target on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. Piper Sandler raised their price objective on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen raised Vornado Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $37.91.

Vornado Realty Trust Stock Performance

The firm has a market cap of $7.14 billion, a PE ratio of 71.49, a P/E/G ratio of 13.21 and a beta of 1.52. The stock has a 50-day moving average price of $38.20 and a 200 day moving average price of $39.22. The company has a debt-to-equity ratio of 1.81, a current ratio of 4.10 and a quick ratio of 4.10.

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

Insider Buying and Selling at Vornado Realty Trust

In other Vornado Realty Trust news, EVP Haim Chera sold 20,000 shares of the business's 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 in the company, valued at $1,139,400. The trade was a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.42% of the stock is owned by company insiders.

Institutional Trading of Vornado Realty Trust

Several large investors have recently added to or reduced their stakes in VNO. Principal Securities Inc. increased its stake in Vornado Realty Trust by 32.7% during the 4th quarter. Principal Securities Inc. now owns 3,107 shares of the real estate investment trust's stock worth $131,000 after buying an additional 765 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Vornado Realty Trust by 17.6% in the fourth quarter. Sanctuary Advisors LLC now owns 18,365 shares of the real estate investment trust's stock worth $782,000 after acquiring an additional 2,746 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Vornado Realty Trust by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 5,950 shares of the real estate investment trust's stock valued at $250,000 after purchasing an additional 324 shares during the last quarter. Ieq Capital LLC boosted its holdings in Vornado Realty Trust by 7.5% in the fourth quarter. Ieq Capital LLC now owns 6,537 shares of the real estate investment trust's stock valued at $275,000 after purchasing an additional 458 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Vornado Realty Trust during the 4th quarter valued at approximately $454,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

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