Vornado Realty Trust (NYSE:VNO) Shares Down 6.3%

Vornado Realty Trust (NYSE:VNO)’s stock price traded down 6.3% during trading on Tuesday . The company traded as low as $24.75 and last traded at $24.96. 1,139,184 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 2,173,683 shares. The stock had previously closed at $26.63.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. The Goldman Sachs Group decreased their target price on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, February 22nd. Evercore ISI lowered their price objective on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, February 15th. Barclays started coverage on Vornado Realty Trust in a report on Wednesday, March 27th. They issued an “underweight” rating and a $22.00 price target on the stock. Finally, Morgan Stanley upgraded Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $24.00 to $26.00 in a report on Thursday, March 28th. Six investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $24.80.

Vornado Realty Trust Price Performance

The stock has a fifty day moving average price of $26.74 and a 200-day moving average price of $25.96. The firm has a market capitalization of $4.61 billion, a PE ratio of 108.22 and a beta of 1.57. The company has a debt-to-equity ratio of 1.82, a quick ratio of 4.95 and a current ratio of 4.95.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). Vornado Realty Trust had a net margin of 5.82% and a return on equity of 3.22%. The company had revenue of $441.89 million during the quarter, compared to analysts’ expectations of $453.82 million. During the same quarter in the prior year, the business posted $0.72 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. Sell-side analysts forecast that Vornado Realty Trust will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rheos Capital Works Inc. increased its holdings in shares of Vornado Realty Trust by 55.1% in the 4th quarter. Rheos Capital Works Inc. now owns 318,000 shares of the real estate investment trust’s stock valued at $8,984,000 after acquiring an additional 113,000 shares during the period. Gotham Asset Management LLC boosted its position in shares of Vornado Realty Trust by 16.8% in the 3rd quarter. Gotham Asset Management LLC now owns 321,993 shares of the real estate investment trust’s stock worth $7,303,000 after purchasing an additional 46,316 shares in the last quarter. Rush Island Management LP acquired a new stake in shares of Vornado Realty Trust in the 3rd quarter worth $27,901,000. Vanguard Group Inc. boosted its position in shares of Vornado Realty Trust by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock worth $554,726,000 after purchasing an additional 116,504 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Vornado Realty Trust by 50.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 215,608 shares of the real estate investment trust’s stock worth $4,890,000 after purchasing an additional 72,750 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.