Insider Buying: Vornado Realty Trust (NYSE:VNO) Director Acquires 4,000 Shares of Stock

Vornado Realty Trust (NYSE:VNO) Director Russell Wight, Jr. bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were bought at an average price of $16.94 per share, with a total value of $67,760.00. Following the transaction, the director directly owned 13,000 shares in the company, valued at $220,220. This trade represents a 44.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock traded down $0.16 during midday trading on Wednesday, hitting $38.29. 2,086,243 shares of the company were exchanged, compared to its average volume of 1,981,024. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14. The firm has a market cap of $7.20 billion, a P/E ratio of 10.52, a PEG ratio of 1.83 and a beta of 1.56. Vornado Realty Trust has a 52 week low of $24.57 and a 52 week high of $43.37. The firm has a 50 day simple moving average of $30.35 and a 200-day simple moving average of $31.06.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The company had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.72 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.Vornado Realty Trust’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 EPS. Research analysts forecast 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 stock buyback program on Wednesday, April 29th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors have recently made changes to their positions in VNO. Royal Bank of Canada grew its stake in shares of Vornado Realty Trust by 18.3% during the first quarter. Royal Bank of Canada now owns 27,507 shares of the real estate investment trust’s stock worth $1,017,000 after purchasing an additional 4,251 shares during the period. AQR Capital Management LLC grew its stake in shares of Vornado Realty Trust by 18.7% during the first quarter. AQR Capital Management LLC now owns 51,939 shares of the real estate investment trust’s stock worth $1,903,000 after purchasing an additional 8,189 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Vornado Realty Trust by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust’s stock worth $22,705,000 after purchasing an additional 112,956 shares during the period. Marshall Wace LLP acquired a new stake in shares of Vornado Realty Trust during the second quarter worth $763,000. Finally, California Public Employees Retirement System grew its stake in shares of Vornado Realty Trust by 9.6% during the second quarter. California Public Employees Retirement System now owns 365,237 shares of the real estate investment trust’s stock worth $13,967,000 after purchasing an additional 32,028 shares during the period. 90.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on VNO shares. Scotiabank raised their target price on Vornado Realty Trust from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 21st. Piper Sandler cut their price objective on Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. JPMorgan Chase & Co. lifted their price objective on Vornado Realty Trust from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Weiss Ratings downgraded Vornado Realty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, Citigroup lifted their price objective on Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Three equities research 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 data from MarketBeat.com, Vornado Realty Trust currently has an average rating of “Hold” and a consensus 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.