Traders Sell Vornado Realty Trust (VNO) on Strength (VNO)
Investors sold shares of Vornado Realty Trust (NYSE:VNO) on strength during trading on Wednesday. $13.28 million flowed into the stock on the tick-up and $45.10 million flowed out of the stock on the tick-down, for a money net flow of $31.82 million out of the stock. Of all companies tracked, Vornado Realty Trust had the 0th highest net out-flow for the day. Vornado Realty Trust traded up $0.44 for the day and closed at $103.31
VNO has been the subject of a number of research reports. Zacks Investment Research lowered shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Evercore ISI upgraded shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $106.00 to $108.00 in a research report on Monday, May 16th. Deutsche Bank AG increased their price objective on shares of Vornado Realty Trust from $97.00 to $100.00 and gave the company a “hold” rating in a research report on Monday, May 16th. Vetr upgraded shares of Vornado Realty Trust from a “buy” rating to a “strong-buy” rating and set a $104.97 price objective for the company in a research report on Thursday, May 19th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $103.00 price objective on shares of Vornado Realty Trust in a research report on Thursday, June 23rd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $105.50.
The company has a market cap of $19.51 billion and a P/E ratio of 36.60. The company has a 50-day moving average of $103.52 and a 200-day moving average of $96.68.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by $0.04. During the same period in the previous year, the firm posted $1.71 earnings per share. The company had revenue of $621.71 million for the quarter, compared to the consensus estimate of $621.30 million. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts forecast that Vornado Realty Trust will post $4.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Tuesday, August 9th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Friday, August 5th.
In related news, Director Russell B. Wight, Jr. purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was bought at an average price of $102.53 per share, with a total value of $205,060.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Other large investors recently modified their holdings of the company. BlackRock Advisors LLC raised its stake in shares of Vornado Realty Trust by 92.8% in the fourth quarter. BlackRock Advisors LLC now owns 195,994 shares of the real estate investment trust’s stock valued at $19,591,000 after buying an additional 94,361 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Vornado Realty Trust by 9.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,046,450 shares of the real estate investment trust’s stock valued at $104,604,000 after buying an additional 91,232 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Vornado Realty Trust by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,175,964 shares of the real estate investment trust’s stock valued at $217,513,000 after buying an additional 16,046 shares during the last quarter.
Vornado Realty Trust is a fully integrated real estate investment trust (REIT). The Company conducts its business through, and its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). It is the sole general partner of, and owns common limited partnership interest in the Operating Partnership.
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