Vornado Realty Trust (NYSE:VNO) Director Michael Fascitelli Sells 133,350 Shares of Stock

Vornado Realty Trust (NYSE:VNO) Director Michael Fascitelli sold 133,350 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the completion of the sale, the director directly owned 475,161 shares of the company’s stock, valued at $17,400,395.82. This represents a 21.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock opened at $37.81 on Friday. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. The company has a 50-day moving average price of $32.09 and a 200 day moving average price of $31.18. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $43.37. The stock has a market cap of $7.11 billion, a P/E ratio of 10.39, a PEG ratio of 1.84 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO) last posted 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 net margin of 43.99% and a return on equity of 15.82%. The firm had revenue of $459.11 million during the quarter, compared to analyst estimates of $431.71 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts anticipate that Vornado Realty Trust will post 2.34 earnings per share for the current year.

Vornado Realty Trust declared that its board has approved a share repurchase plan on Wednesday, April 29th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Vornado Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of VNO. Danske Bank A S acquired a new position in shares of Vornado Realty Trust in the third quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new position in Vornado Realty Trust in the 3rd quarter valued at approximately $33,000. Farmers & Merchants Investments Inc. boosted its position in Vornado Realty Trust by 512.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 718 shares during the period. Employees Retirement System of Texas acquired a new position in shares of Vornado Realty Trust in the fourth quarter worth $36,000. Finally, BOKF NA grew its stake in shares of Vornado Realty Trust by 1,257.1% in the third quarter. BOKF NA now owns 1,140 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,056 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VNO has been the topic of several recent analyst reports. Piper Sandler decreased their price target on Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Scotiabank raised their price objective on Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. BMO Capital Markets upped their target price on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Mizuho lowered their target price on shares of Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.42.

About Vornado Realty Trust

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.