Insider Selling: Vornado Realty Trust (NYSE:VNO) EVP Sells $3,060,900.00 in Stock

Vornado Realty Trust (NYSE:VNO) EVP Haim Chera sold 90,000 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total transaction of $3,060,900.00. Following the sale, the executive vice president directly owned 110,000 shares of the company’s stock, valued at $3,741,100. The trade was a 45.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Vornado Realty Trust Price Performance

Shares of NYSE:VNO traded down $0.30 during midday trading on Thursday, hitting $33.58. The company’s stock had a trading volume of 1,621,143 shares, compared to its average volume of 1,792,858. The business’s 50 day simple moving average is $37.37 and its 200 day simple moving average is $34.33. The company has a debt-to-equity ratio of 1.56, a quick ratio of 5.24 and a current ratio of 5.24. The company has a market cap of $6.27 billion, a P/E ratio of 1,680.04, a price-to-earnings-growth ratio of 1.62 and a beta of 1.53. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $41.85.

Vornado Realty Trust (NYSE:VNO) last posted 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). Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The business had revenue of $462.24 million for the quarter, compared to analyst estimates of $454.46 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Vornado Realty Trust will post 2.42 EPS for the current year.

Institutional Trading of Vornado Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in VNO. Franklin Resources Inc. raised its position in shares of Vornado Realty Trust by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 12,504,170 shares of the real estate investment trust’s stock valued at $416,139,000 after buying an additional 195,111 shares during the period. Resolution Capital Ltd grew its position in Vornado Realty Trust by 34.1% in the first quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock worth $193,885,000 after acquiring an additional 1,895,846 shares during the period. Geode Capital Management LLC increased its stake in Vornado Realty Trust by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 3,354,542 shares of the real estate investment trust’s stock worth $111,658,000 after acquiring an additional 77,754 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Vornado Realty Trust by 0.5% during 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 during the last quarter. Finally, Pacer Advisors Inc. raised its position in Vornado Realty Trust by 0.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,497,296 shares of the real estate investment trust’s stock valued at $49,830,000 after purchasing an additional 7,559 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. LADENBURG THALM/SH SH boosted their target price on Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Scotiabank reduced their price objective on Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 17th. Weiss Ratings lowered Vornado Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. Barclays upped their target price on Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Finally, Truist Financial cut their target price on Vornado Realty Trust from $39.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, September 21st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.55.

About Vornado Realty Trust

Vornado Realty Trust (NYSE:VNO) is a real estate investment trust that owns, manages and develops commercial properties, with a primary focus on office and retail assets in the New York metropolitan area. The company’s portfolio includes office towers, retail properties and mixed-use developments in prominent locations throughout Manhattan.

Vornado is particularly active in the Penn District, a large-scale redevelopment area surrounding Pennsylvania Station in Midtown Manhattan. Its properties serve a range of tenants, including businesses, retailers, restaurants and other commercial occupants.