Vornado Realty Trust (NYSE:VNO) Director Russell B. Wight, Jr. Purchases 2,000 Shares of Stock

Vornado Realty Trust (NYSE:VNO – Get Rating) Director Russell B. Wight, Jr. acquired 2,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was acquired at an average price of $11.52 per share, with a total value of $23,040.00. Following the acquisition, the director now owns 7,000 shares in the company, valued at approximately $80,640. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Vornado Realty Trust Stock Performance

Shares of VNO stock opened at $13.08 on Friday. The company has a quick ratio of 4.75, a current ratio of 4.75 and a debt-to-equity ratio of 1.74. Vornado Realty Trust has a 52 week low of $12.31 and a 52 week high of $35.65. The stock has a market capitalization of $2.51 billion, a PE ratio of -5.86, a P/E/G ratio of 1.62 and a beta of 1.37. The firm has a 50 day moving average of $14.35 and a two-hundred day moving average of $19.47.

Vornado Realty Trust (NYSE:VNO – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.61). Vornado Realty Trust had a negative net margin of 20.39% and a positive return on equity of 2.51%. The business had revenue of $445.92 million during the quarter, compared to analysts’ expectations of $452.70 million. During the same period in the prior year, the business earned $0.79 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts predict that Vornado Realty Trust will post 2.5 EPS for the current fiscal year.

Vornado Realty Trust declared that its Board of Directors has approved a stock buyback plan on Wednesday, April 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VNO. Evercore ISI cut their price target on shares of Vornado Realty Trust from $23.00 to $22.00 in a report on Monday, March 27th. Morgan Stanley cut their price target on shares of Vornado Realty Trust from $18.00 to $13.00 and set an “underweight” rating for the company in a report on Friday, March 31st. The Goldman Sachs Group began coverage on shares of Vornado Realty Trust in a report on Tuesday, March 21st. They set a “sell” rating and a $12.00 price target for the company. StockNews.com began coverage on shares of Vornado Realty Trust in a report on Thursday, May 18th. They set a “sell” rating for the company. Finally, Piper Sandler downgraded shares of Vornado Realty Trust from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $16.00 to $11.00 in a report on Wednesday, April 26th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.00.

Hedge Funds Weigh In On Vornado Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNO. Belpointe Asset Management LLC purchased a new stake in shares of Vornado Realty Trust during the 4th quarter worth $30,000. FNY Investment Advisers LLC purchased a new stake in shares of Vornado Realty Trust during the 1st quarter worth $33,000. SOA Wealth Advisors LLC. lifted its position in shares of Vornado Realty Trust by 55.5% during the 1st quarter. SOA Wealth Advisors LLC. now owns 2,494 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 890 shares during the last quarter. Spire Wealth Management lifted its position in shares of Vornado Realty Trust by 158.8% during the 1st quarter. Spire Wealth Management now owns 2,580 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,583 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Vornado Realty Trust during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 75.97% of the company’s stock.

Vornado Realty Trust Company Profile

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Vornado Realty Trust is a real estate investment trust, which engages in the ownership of office, retail, merchandise mart properties, and other real estate and related investments. It operates through the New York and Other segments. The company was founded by Steven Roth on March 29, 1993 and is headquartered in New York, NY.