Vornado Realty Trust (NYSE:VNO) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Vornado Realty Trust (NYSE:VNO)’s stock price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $34.28 and traded as high as $34.77. Vornado Realty Trust shares last traded at $33.8720, with a volume of 1,768,688 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on VNO shares. BMO Capital Markets increased their price objective on Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. UBS Group cut shares of Vornado Realty Trust to an “underweight” rating in a research note on Wednesday, July 22nd. Barclays boosted their price objective on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Citigroup raised their target price on shares of Vornado Realty Trust from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Piper Sandler boosted their target price on shares of Vornado Realty Trust from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.55.

Vornado Realty Trust Price Performance

The company has a market capitalization of $6.27 billion, a P/E ratio of 1,680.04, a price-to-earnings-growth ratio of 1.62 and a beta of 1.53. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 5.24. The firm’s 50-day moving average is $37.37 and its 200-day moving average is $34.33.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data 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). The company had revenue of $462.24 million during the quarter, compared to analysts’ expectations of $454.46 million. Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. Analysts predict that Vornado Realty Trust will post 2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Vornado Realty Trust news, EVP Haim Chera sold 90,000 shares of the firm’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 transaction of $3,060,900.00. Following the sale, the executive vice president owned 110,000 shares in the company, valued at approximately $3,741,100. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.00% of the company’s stock.

Institutional Trading of Vornado Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of the company. Resolution Capital Ltd increased its stake in Vornado Realty Trust by 34.1% in the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock worth $193,885,000 after buying an additional 1,895,846 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Vornado Realty Trust by 129.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust’s stock valued at $36,344,000 after acquiring an additional 788,067 shares in the last quarter. Adelante Capital Management LLC bought a new stake in Vornado Realty Trust in the 2nd quarter valued at $27,030,000. Wellington Management Group LLP lifted its stake in Vornado Realty Trust by 440.6% in the 2nd quarter. Wellington Management Group LLP now owns 598,395 shares of the real estate investment trust’s stock worth $23,517,000 after purchasing an additional 487,710 shares in the last quarter. Finally, Lodge Hill Capital LLC purchased a new stake in Vornado Realty Trust in the 1st quarter worth $11,046,000. 90.02% of the stock is currently owned by institutional investors.

About Vornado Realty Trust

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.