Vornado Realty Trust (NYSE:VNO) Stock Price Down 6.9% - Should You Sell?

Shares of Vornado Realty Trust (NYSE:VNO - Get Free Report) dropped 6.9% on Tuesday . The stock traded as low as $36.31 and last traded at $35.98. Approximately 473,098 shares traded hands during trading, a decline of 67% from the average daily volume of 1,423,860 shares. The stock had previously closed at $38.65.

Analyst Upgrades and Downgrades

• 5 top office REITs to buy now

Several research firms have commented on VNO. Piper Sandler increased their target price on Vornado Realty Trust from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Truist Financial raised their target price on Vornado Realty Trust from $37.00 to $38.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Scotiabank raised their target price on Vornado Realty Trust from $42.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Monday, July 14th. Wall Street Zen raised Vornado Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Mizuho decreased their target price on Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating for the company in a research note on Monday, July 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $38.09.

View Our Latest Report on Vornado Realty Trust

Vornado Realty Trust Trading Down 5.4%

• Are Dividend-Paying Office REITs Finally Staging A Comeback?

The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $38.96 and a 200 day simple moving average of $38.57. The firm has a market capitalization of $7.02 billion, a P/E ratio of 70.24, a PEG ratio of 13.62 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. Vornado Realty Trust had a return on equity of 3.83% and a net margin of 9.17%. The company had revenue of $441.44 million during the quarter, compared to analyst estimates of $468.79 million. During the same quarter last year, the business posted $0.57 earnings per share. The firm's revenue was down 2.0% on a year-over-year basis. As a group, research analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current year.

Insider Buying and Selling

In related news, EVP Haim Chera sold 20,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $37.98, for a total value of $759,600.00. Following the completion of the transaction, the executive vice president owned 30,000 shares of the company's stock, valued at $1,139,400. The trade was a 40.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vornado Realty Trust

A number of large investors have recently made changes to their positions in VNO. Twin Tree Management LP grew its holdings in shares of Vornado Realty Trust by 102.1% during the first quarter. Twin Tree Management LP now owns 785 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 38,585 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Vornado Realty Trust by 67.7% during the first quarter. UMB Bank n.a. now owns 1,295 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 523 shares during the last quarter. FIL Ltd purchased a new stake in shares of Vornado Realty Trust during the fourth quarter valued at $49,000. Assetmark Inc. boosted its holdings in Vornado Realty Trust by 23.3% in the first quarter. Assetmark Inc. now owns 1,835 shares of the real estate investment trust's stock valued at $68,000 after purchasing an additional 347 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in Vornado Realty Trust in the first quarter valued at $75,000. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully - integrated equity real estate investment trust.

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