Vornado Realty Trust (NYSE:VNO) Shares Gap Down – Here’s Why

Vornado Realty Trust (NYSE:VNO)’s share price 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 changing hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VNO shares. Morgan Stanley raised their price objective on Vornado Realty Trust from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Wall Street Zen raised shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. 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 lifted their price objective on Vornado Realty Trust from $37.00 to $38.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. Finally, Piper Sandler boosted their target price on Vornado Realty Trust from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.91.

Vornado Realty Trust Trading Up 3.6%

The company has a debt-to-equity ratio of 1.81, a quick ratio of 4.10 and a current ratio of 4.10. The stock has a market capitalization of $7.14 billion, a P/E ratio of 71.49, a price-to-earnings-growth ratio of 13.21 and a beta of 1.52. The stock has a 50-day moving average price of $38.20 and a two-hundred day moving average price of $39.22.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. The company had revenue of $461.58 million during the quarter, compared to analyst estimates of $452.68 million. Vornado Realty Trust had a return on equity of 3.83% and a net margin of 9.17%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. On average, research analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Vornado Realty Trust news, EVP Haim Chera sold 20,000 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $37.98, for a total transaction of $759,600.00. Following the completion of the transaction, the executive vice president now owns 30,000 shares of the company’s stock, valued at approximately $1,139,400. This trade represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Vornado Realty Trust during the fourth quarter valued at approximately $729,073,000. Invesco Ltd. increased its position in Vornado Realty Trust by 111.3% during the 4th quarter. Invesco Ltd. now owns 3,135,900 shares of the real estate investment trust’s stock valued at $131,833,000 after buying an additional 1,651,819 shares in the last quarter. Deutsche Bank AG raised its stake in Vornado Realty Trust by 180.7% during the fourth quarter. Deutsche Bank AG now owns 2,435,127 shares of the real estate investment trust’s stock valued at $102,373,000 after buying an additional 1,567,742 shares during the last quarter. Northern Trust Corp boosted its holdings in Vornado Realty Trust by 98.3% in the fourth quarter. Northern Trust Corp now owns 2,741,129 shares of the real estate investment trust’s stock worth $115,237,000 after acquiring an additional 1,358,498 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Vornado Realty Trust in the first quarter worth $38,284,000. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Company Profile

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