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

Shares of Vornado Realty Trust (NYSE:VNO - Get Free Report) gapped down before the market opened 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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley upped 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. Wall Street Zen raised Vornado Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Piper Sandler lifted their price objective on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Barclays upped their target price on shares of Vornado Realty Trust from $31.00 to $32.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. Finally, Truist Financial raised 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 report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $37.91.

Vornado Realty Trust Trading Up 3.0%

The firm has a market capitalization of $7.34 billion, a PE ratio of 73.54, a PEG ratio of 13.67 and a beta of 1.52. The firm's fifty day moving average is $38.28 and its two-hundred day moving average is $39.18. 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 released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. The business had revenue of $461.58 million for the quarter, compared to analysts' expectations of $452.68 million. Vornado Realty Trust had a net margin of 9.17% and a return on equity of 3.83%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 earnings per share. On average, equities analysts predict that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Vornado Realty Trust

Institutional investors have recently modified their holdings of the business. Strs Ohio bought a new position in Vornado Realty Trust during the first quarter valued at $1,175,000. Acadian Asset Management LLC bought a new position in Vornado Realty Trust during the first quarter valued at $3,341,000. Bayforest Capital Ltd bought a new position in Vornado Realty Trust during the first quarter valued at $294,000. Woodline Partners LP grew its holdings in Vornado Realty Trust by 214.9% during the first quarter. Woodline Partners LP now owns 599,874 shares of the real estate investment trust's stock valued at $22,189,000 after purchasing an additional 409,362 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Vornado Realty Trust by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust's stock worth $22,705,000 after acquiring an additional 112,956 shares during the period. 90.02% of the stock is owned by institutional investors.

Vornado Realty Trust Company Profile

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