Vornado Realty Trust (NYSE:VNO) Shares Down 5.5%

Vornado Realty Trust (NYSE:VNO)’s stock price was down 5.5% during mid-day trading on Tuesday . The company traded as low as $58.63 and last traded at $58.91, approximately 2,248,454 shares were traded during mid-day trading. An increase of 73% from the average daily volume of 1,295,974 shares. The stock had previously closed at $62.37.

VNO has been the topic of several analyst reports. Bank of America downgraded shares of Vornado Realty Trust from a “buy” rating to a “neutral” rating and set a $68.00 target price on the stock. in a research report on Thursday, February 20th. Cfra lowered Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. SunTrust Banks cut Vornado Realty Trust from a “buy” rating to a “hold” rating and set a $68.00 price target for the company. in a research report on Wednesday, January 15th. BMO Capital Markets upped their price target on Vornado Realty Trust from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Barclays lowered their price objective on Vornado Realty Trust from $79.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Vornado Realty Trust has an average rating of “Hold” and a consensus price target of $71.75.

The business’s 50 day moving average is $66.48 and its 200-day moving average is $64.38. The company has a debt-to-equity ratio of 1.15, a quick ratio of 5.56 and a current ratio of 5.56. The firm has a market capitalization of $11.91 billion, a price-to-earnings ratio of 3.63, a price-to-earnings-growth ratio of 5.93 and a beta of 1.03.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Tuesday, February 18th. The real estate investment trust reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.14. The firm had revenue of $460.97 million during the quarter, compared to analyst estimates of $451.12 million. Vornado Realty Trust had a net margin of 163.55% and a return on equity of 4.54%. The business’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. Equities research analysts forecast that Vornado Realty Trust will post 3.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, January 27th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $2.64 annualized dividend and a dividend yield of 4.48%. Vornado Realty Trust’s dividend payout ratio is presently 75.64%.

In related news, EVP Barry Langer sold 4,255 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $66.61, for a total transaction of $283,425.55. Following the completion of the sale, the executive vice president now owns 16,221 shares in the company, valued at approximately $1,080,480.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.59% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in VNO. Fieldpoint Private Securities LLC acquired a new position in shares of Vornado Realty Trust during the fourth quarter valued at about $25,000. Evoke Wealth LLC bought a new position in Vornado Realty Trust during the third quarter valued at about $32,000. Orion Portfolio Solutions LLC bought a new position in Vornado Realty Trust during the fourth quarter valued at about $33,000. Quantum Capital Management acquired a new position in Vornado Realty Trust in the 3rd quarter valued at approximately $52,000. Finally, Busey Wealth Management acquired a new position in Vornado Realty Trust in the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 76.55% of the company’s stock.

About Vornado Realty Trust (NYSE:VNO)

Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.

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