Vornado Realty Trust (NYSE:VNO) Stock Crosses Below 50 Day Moving Average – Time to Sell?

Vornado Realty Trust (NYSE:VNO)’s share price crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $34.95 and traded as low as $34.35. Vornado Realty Trust shares last traded at $34.47, with a volume of 1,582,552 shares.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VNO shares. UBS Group downgraded Vornado Realty Trust to an “underweight” rating in a research report on Wednesday, July 22nd. Citigroup raised their price target on Vornado Realty Trust from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Piper Sandler lowered their price target on Vornado Realty Trust from $44.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Truist Financial dropped their price objective on shares of Vornado Realty Trust from $39.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, September 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vornado Realty Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, September 15th. Four investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.91.

Vornado Realty Trust Price Performance

The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $6.44 billion, a PE ratio of 1,724.36, a price-to-earnings-growth ratio of 1.65 and a beta of 1.58. The stock’s 50-day moving average is $34.95 and its two-hundred day moving average is $33.39.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share (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 firm had revenue of $462.24 million during the quarter, compared to the consensus estimate of $454.46 million. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts predict that Vornado Realty Trust will post 2.47 EPS for the current year.

Insider Activity at Vornado Realty Trust

In other news, EVP Haim Chera sold 90,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total value of $3,060,900.00. Following the sale, the executive vice president directly owned 110,000 shares in the company, valued at approximately $3,741,100. This represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Vornado Realty Trust

A number of large investors have recently bought and sold shares of the business. Resolution Capital Ltd increased its stake in Vornado Realty Trust by 34.1% in the first quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock worth $193,885,000 after purchasing an additional 1,895,846 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of 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 worth $36,344,000 after purchasing an additional 788,067 shares during the last quarter. Adelante Capital Management LLC bought a new stake in shares of Vornado Realty Trust during the second quarter worth $27,030,000. Wellington Management Group LLP lifted its position in shares of Vornado Realty Trust by 440.6% during the second 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 during the last quarter. Finally, Lodge Hill Capital LLC bought a new stake in shares of Vornado Realty Trust during the first quarter worth $11,046,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops commercial properties, with a primary focus on premier office and retail assets in New York City. The company’s portfolio includes office buildings, retail properties and mixed-use developments located in high-profile business and shopping districts.

Vornado is particularly active in Manhattan, where it has pursued large-scale development and redevelopment initiatives in the Penn District surrounding Pennsylvania Station.