Vornado Realty Trust (NYSE:VNO) Trading Up 7%

Shares of Vornado Realty Trust (NYSE:VNO) rose 7% during trading on Tuesday . The stock traded as high as $29.23 and last traded at $29.17. Approximately 30,418 shares were traded during trading, a decline of 98% from the average daily volume of 1,982,226 shares. The stock had previously closed at $27.27.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BMO Capital Markets reduced their price target on shares of Vornado Realty Trust from $31.00 to $29.00 and set a “market perform” rating for the company in a research report on Wednesday, June 12th. Piper Sandler reduced their price target on shares of Vornado Realty Trust from $25.00 to $22.00 and set an “underweight” rating for the company in a research report on Monday, May 13th. Scotiabank reduced their price target on shares of Vornado Realty Trust from $24.00 to $23.00 and set a “sector perform” rating for the company in a research report on Thursday, May 16th. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. Finally, Barclays cut their target price on shares of Vornado Realty Trust from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Friday, May 24th. Six analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, Vornado Realty Trust currently has an average rating of “Hold” and an average target price of $24.27.

Vornado Realty Trust Stock Up 12.9 %

The firm has a market capitalization of $5.86 billion, a P/E ratio of 203.33 and a beta of 1.64. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.81. The company has a fifty day simple moving average of $26.48 and a 200 day simple moving average of $26.38.

Insider Activity

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $28.19, for a total transaction of $56,380.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at $85,528.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.14% of the company’s stock.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of VNO. Turtle Creek Wealth Advisors LLC purchased a new position in Vornado Realty Trust during the 4th quarter worth $40,000. Fidelis Capital Partners LLC purchased a new position in Vornado Realty Trust during the 1st quarter worth $55,000. Principal Securities Inc. purchased a new position in Vornado Realty Trust during the 4th quarter worth $58,000. EverSource Wealth Advisors LLC lifted its position in Vornado Realty Trust by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 1,018 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of Vornado Realty Trust in the 4th quarter valued at about $116,000. 90.02% of the stock is owned by institutional investors.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.