Vornado Realty Trust (NYSE:VNO) Director Russell Wight, Jr. Buys 4,000 Shares

Vornado Realty Trust (NYSE:VNO) Director Russell Wight, Jr. bought 4,000 shares of the company’s stock in a transaction on Monday, June 8th. The stock was purchased at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the completion of the transaction, the director owned 13,000 shares in the company, valued at approximately $220,220. The trade was a 44.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Vornado Realty Trust Stock Performance

Shares of VNO stock opened at $38.29 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14. Vornado Realty Trust has a fifty-two week low of $24.57 and a fifty-two week high of $43.37. The stock’s 50-day moving average is $30.61 and its two-hundred day moving average is $31.10. The firm has a market cap of $7.20 billion, a P/E ratio of 10.52, a PEG ratio of 1.94 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The firm had revenue of $459.11 million during the quarter, compared to analyst estimates of $431.72 million. During the same period in the previous year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Analysts predict that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.

Vornado Realty Trust declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 29th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Vornado Realty Trust

Several large investors have recently made changes to their positions in VNO. Norges Bank bought a new stake in Vornado Realty Trust during the 4th quarter valued at approximately $579,709,000. Resolution Capital Ltd boosted its stake in Vornado Realty Trust by 34.1% during the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock valued at $193,885,000 after purchasing an additional 1,895,846 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Vornado Realty Trust by 21.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust’s stock valued at $301,300,000 after purchasing an additional 1,598,643 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Vornado Realty Trust by 393,598.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,051,175 shares of the real estate investment trust’s stock valued at $34,983,000 after purchasing an additional 1,050,908 shares during the period. Finally, GRS Advisors LLC bought a new stake in Vornado Realty Trust during the 3rd quarter valued at approximately $32,082,000. Institutional investors own 90.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on VNO shares. Wall Street Zen lowered Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Scotiabank upped their price target on Vornado Realty Trust from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 21st. Piper Sandler decreased their price target on Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Citigroup upped their price target on Vornado Realty Trust from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Morgan Stanley decreased their price target on Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Vornado Realty Trust has a consensus rating of “Hold” and an average target price of $34.27.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a self?administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long?term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street?level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.