Vornado Realty Trust (NYSE:VNO – Get Free Report) gapped down prior to trading on Friday after Evercore ISI lowered their price target on the stock from $28.00 to $26.00. The stock had previously closed at $25.70, but opened at $24.92. Evercore ISI currently has an underperform rating on the stock. Vornado Realty Trust shares last traded at $25.59, with a volume of 231,801 shares.
Other analysts also recently issued research reports about the company. BMO Capital Markets raised Vornado Realty Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $25.00 to $31.00 in a research note on Friday, December 15th. Truist Financial raised their target price on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, December 20th. Citigroup increased their price objective on shares of Vornado Realty Trust from $12.00 to $18.00 and gave the company a “sell” rating in a report on Tuesday, November 28th. Piper Sandler upped their target price on Vornado Realty Trust from $16.00 to $25.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 20th. Finally, The Goldman Sachs Group lifted their target price on Vornado Realty Trust from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, November 7th. Six analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $23.56.
Insider Transactions at Vornado Realty Trust
In other news, Director Michael D. Fascitelli sold 262,945 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $29.54, for a total transaction of $7,767,395.30. Following the completion of the transaction, the director now directly owns 1,306,546 shares in the company, valued at approximately $38,595,368.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Russell B. Wight, Jr. sold 20,000 shares of Vornado Realty Trust stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $28.04, for a total transaction of $560,800.00. Following the transaction, the director now owns 2,380,174 shares in the company, valued at approximately $66,740,078.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael D. Fascitelli sold 262,945 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $29.54, for a total value of $7,767,395.30. Following the completion of the sale, the director now owns 1,306,546 shares in the company, valued at approximately $38,595,368.84. The disclosure for this sale can be found here. Corporate insiders own 8.03% of the company’s stock.
Institutional Investors Weigh In On Vornado Realty Trust
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new position in Vornado Realty Trust in the 4th quarter valued at $26,000. Financial Gravity Asset Management Inc. grew its holdings in Vornado Realty Trust by 8,355.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,522 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,504 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Vornado Realty Trust by 49.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,672 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 556 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Vornado Realty Trust in the 4th quarter valued at $40,000. Finally, Selway Asset Management acquired a new position in Vornado Realty Trust in the 3rd quarter valued at $45,000. Institutional investors own 75.86% of the company’s stock.
Vornado Realty Trust Trading Up 0.4 %
The company has a current ratio of 4.95, a quick ratio of 4.52 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $4.91 billion, a P/E ratio of 111.74 and a beta of 1.58. The firm has a 50-day moving average of $27.81 and a two-hundred day moving average of $24.41.
Vornado Realty Trust (NYSE:VNO – Get Free Report) last announced its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.55). The business had revenue of $441.89 million for the quarter, compared to the consensus estimate of $453.82 million. Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. Vornado Realty Trust’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, analysts anticipate that Vornado Realty Trust will post 2.36 EPS for the current year.
Vornado Realty Trust Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 27th. Shareholders of record on Friday, December 15th were given a $0.30 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 4.65%. Vornado Realty Trust’s dividend payout ratio is presently 521.74%.
About Vornado Realty Trust
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.