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

Vornado Realty Trust (NYSE:VNO) Director Michael Fascitelli sold 133,350 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total value of $4,883,277.00. Following the completion of the transaction, the director owned 475,161 shares in the company, valued at $17,400,395.82. This represents a 21.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Vornado Realty Trust Price Performance

Shares of VNO opened at $37.81 on Friday. The firm has a market cap of $7.11 billion, a PE ratio of 10.39, a PEG ratio of 1.90 and a beta of 1.56. The firm’s 50 day moving average price is $32.30 and its 200 day moving average price is $31.22. The company has a debt-to-equity ratio of 1.54, a quick ratio of 6.14 and a current ratio of 6.14. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $43.37.

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 business had revenue of $459.11 million during the quarter, compared to the consensus estimate of $431.71 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, research analysts expect that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

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

Institutional Trading of Vornado Realty Trust

Large investors have recently modified their holdings of the company. Danske Bank A S acquired a new position in Vornado Realty Trust in the 3rd quarter valued at $28,000. Farmers & Merchants Investments Inc. lifted its position in Vornado Realty Trust by 512.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 718 shares during the last quarter. Essential Partners LLC lifted its position in Vornado Realty Trust by 186.9% during the 1st quarter. Essential Partners LLC now owns 1,182 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 770 shares during the last quarter. Advisory Services Network LLC bought a new stake in Vornado Realty Trust during the third quarter valued at about $33,000. Finally, Employees Retirement System of Texas bought a new stake in Vornado Realty Trust during the fourth quarter valued at about $36,000. 90.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on VNO shares. Mizuho decreased their price objective on shares of Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Barclays cut their target price on Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Truist Financial reduced their price target on Vornado Realty Trust from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings upgraded Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Finally, Morgan Stanley lowered their price objective on Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.