Vornado Realty Trust Target of Unusually High Options Trading (VNO)

Vornado Realty Trust (NYSE:VNO) was the target of some unusual options trading on Thursday. Traders bought 1,367 put options on the stock. This is an increase of 1,453% compared to the average daily volume of 88 put options.

VNO has been the subject of several recent analyst reports. Morgan Stanley set a $72.00 price target on Vornado Realty Trust and gave the company a “buy” rating in a report on Monday, April 22nd. Deutsche Bank reduced their price target on Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Zacks Investment Research raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Finally, BMO Capital Markets reissued a “sell” rating and issued a $82.00 price target on shares of Vornado Realty Trust in a report on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $77.33.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cleararc Capital Inc. purchased a new position in Vornado Realty Trust in the 1st quarter valued at approximately $284,000. Kore Private Wealth LLC purchased a new position in Vornado Realty Trust in the 1st quarter valued at approximately $35,000. BlueCrest Capital Management Ltd purchased a new position in Vornado Realty Trust in the 1st quarter valued at approximately $285,000. HighTower Advisors LLC increased its stake in Vornado Realty Trust by 5.9% in the 1st quarter. HighTower Advisors LLC now owns 59,844 shares of the real estate investment trust’s stock valued at $4,025,000 after purchasing an additional 3,347 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in Vornado Realty Trust by 41.3% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,366 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 692 shares in the last quarter. 86.02% of the stock is owned by hedge funds and other institutional investors.

VNO opened at $66.99 on Friday. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $12.73 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. Vornado Realty Trust has a 12 month low of $59.48 and a 12 month high of $77.59.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.78). Vornado Realty Trust had a net margin of 28.76% and a return on equity of 10.19%. The firm had revenue of $534.67 million during the quarter, compared to analysts’ expectations of $583.32 million. During the same period in the previous year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts forecast that Vornado Realty Trust will post 3.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Friday, May 3rd. Vornado Realty Trust’s payout ratio is currently 70.21%.

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Vornado Realty Trust Company Profile

Vornado's portfolio is concentrated in the nation's key market — New York City — along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2017.

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