Insider Selling: Vornado Realty Trust (NYSE:VNO) EVP Sells $3,060,900.00 in Stock

Vornado Realty Trust (NYSE:VNO) EVP Haim Chera sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $34.01, for a total value of $3,060,900.00. Following the completion of the sale, the executive vice president owned 110,000 shares in the company, valued at $3,741,100. The trade was a 45.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Vornado Realty Trust Price Performance

Shares of VNO opened at $33.75 on Friday. The stock has a market capitalization of $6.30 billion, a P/E ratio of 1,688.24, a P/E/G ratio of 1.62 and a beta of 1.58. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $41.85. The company has a 50 day moving average of $37.14 and a 200-day moving average of $34.38. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.56.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.49). Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The business had revenue of $462.24 million for the quarter, compared to analyst estimates of $454.46 million. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Vornado Realty Trust will post 2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VNO has been the subject of several recent research reports. Morgan Stanley cut Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a research report on Wednesday, July 22nd. LADENBURG THALM/SH SH upped their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. BMO Capital Markets raised 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 note on Monday, June 15th. Scotiabank lowered their target price on shares of Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, September 17th. Finally, UBS Group lowered shares of Vornado Realty Trust to an “underweight” rating in a research report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its holdings in shares of Vornado Realty Trust by 35.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,064 shares of the real estate investment trust’s stock worth $553,000 after acquiring an additional 3,688 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Vornado Realty Trust by 33.5% during the second quarter. Integrated Wealth Concepts LLC now owns 30,485 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 7,643 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Vornado Realty Trust in the second quarter valued at $222,000. Squarepoint Ops LLC increased its holdings in shares of Vornado Realty Trust by 65.9% in the second quarter. Squarepoint Ops LLC now owns 133,928 shares of the real estate investment trust’s stock valued at $5,263,000 after purchasing an additional 53,208 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Vornado Realty Trust by 272.7% in the second quarter. Allworth Financial LP now owns 6,478 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 4,740 shares during the period. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust (NYSE:VNO) is a real estate investment trust that owns, manages and develops commercial properties, with a primary focus on office and retail assets in the New York metropolitan area. The company’s portfolio includes office towers, retail properties and mixed-use developments in prominent locations throughout Manhattan.

Vornado is particularly active in the Penn District, a large-scale redevelopment area surrounding Pennsylvania Station in Midtown Manhattan. Its properties serve a range of tenants, including businesses, retailers, restaurants and other commercial occupants.