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

Vornado Realty Trust (NYSE:VNO)’s stock price fell 6.3% during trading on Tuesday . The stock traded as low as $24.75 and last traded at $24.96. 1,139,184 shares changed 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.

Analysts Set New Price Targets

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

Vornado Realty Trust Trading Down 9.1 %

The company has a current ratio of 4.95, a quick ratio of 4.95 and a debt-to-equity ratio of 1.82. The stock has a market cap of $4.61 billion, a P/E ratio of 108.22 and a beta of 1.57. The firm’s 50-day simple moving average is $26.74 and its 200 day simple moving average is $25.96.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.55). Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The firm had revenue of $441.89 million during the quarter, compared to the consensus estimate of $453.82 million. During the same quarter last year, the company posted $0.72 EPS. Vornado Realty Trust’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Vornado Realty Trust will post 2.3 earnings per share for the current year.

Institutional Trading of Vornado Realty Trust

Large investors have recently added to or reduced their stakes in the business. Rheos Capital Works Inc. lifted its position 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 in the last quarter. Gotham Asset Management LLC lifted its position in 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 buying an additional 46,316 shares in the last quarter. Rush Island Management LP purchased a new stake in Vornado Realty Trust in the 3rd quarter worth approximately $27,901,000. Vanguard Group Inc. lifted its position in 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 buying an additional 116,504 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in 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 buying an additional 72,750 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors.

About Vornado Realty Trust

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.