Noteworthy Price Action: Does Vornado Realty Trust Have Any Gas After Today’s Gap Down?

Noteworthy Price Action: Does Vornado Realty Trust Have Any Gas After Today's Gap Down?

The stock of Vornado Realty Trust (NYSE:VNO) gapped down by $0.35 today and has $90.51 target or 9.00% below today’s $99.46 share price. The 7 months technical chart setup indicates high risk for the $18.80B company. The gap down was reported on Oct, 4 by Barchart.com. If the $90.51 price target is reached, the company will be worth $1.69B less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.73% or $1.75 on October 3, hitting $99.46. Vornado Realty Trust (NYSE:VNO) has risen 11.43% since March 1, 2016 and is uptrending. It has underperformed by 0.79% the S&P500.

Analysts await Vornado Realty Trust (NYSE:VNO) to report earnings on October, 31 after the close. They expect $1.30 earnings per share, up 4.00% or $0.05 from last year’s $1.25 per share. VNO’s profit will be $245.73M for 19.13 P/E if the $1.30 EPS becomes a reality. After $1.21 actual earnings per share reported by Vornado Realty Trust for the previous quarter, Wall Street now forecasts 7.44% EPS growth.

Vornado Realty Trust (NYSE:VNO) Ratings Coverage

Out of 5 analysts covering Vornado Realty Trust (NYSE:VNO), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Vornado Realty Trust has been the topic of 14 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by Deutsche Bank with “Hold” on Monday, May 16. The rating was upgraded by TheStreet to “Hold” on Wednesday, August 5. The stock of Vornado Realty Trust (NYSE:VNO) has “Buy” rating given on Monday, May 16 by Evercore. The company was maintained on Tuesday, October 20 by Barclays Capital. As per Tuesday, July 19, the company rating was maintained by Barclays Capital. Deutsche Bank maintained it with “Hold” rating and $97 target price in Monday, March 21 report. Evercore maintained it with “Hold” rating and $103 target price in Monday, March 21 report. Barclays Capital maintained the shares of VNO in a report on Friday, September 4 with “Overweight” rating. SunTrust maintained Vornado Realty Trust (NYSE:VNO) on Thursday, September 3 with “Neutral” rating. The company was downgraded on Tuesday, January 26 by Barclays Capital.

According to Zacks Investment Research, “Vornado Realty Trust is a fully-integrated real estate investment trust. The company owns, directly or indirectly, the following: Office Building Properties; Retail Properties; Merchandise Mart Properties; Temperature Controlled Logistics; and Other Real Estate Investments. It is one of the largest property owners in New York City.”

Insitutional Activity: The institutional sentiment decreased to 1.18 in Q2 2016. Its down 0.05, from 1.23 in 2016Q1. The ratio dropped, as 30 funds sold all Vornado Realty Trust shares owned while 130 reduced positions. 43 funds bought stakes while 146 increased positions. They now own 166.89 million shares or 3.37% less from 172.71 million shares in 2016Q1.
National Pension Ser reported 127,841 shares or 0.11% of all its holdings. The Illinois-based Ubs Asset Mgmt Americas Inc has invested 0.08% in Vornado Realty Trust (NYSE:VNO). Piedmont Invest Advisors Ltd Liability Co reported 41,423 shares or 0% of all its holdings. Fmr Lc has invested 0% of its portfolio in Vornado Realty Trust (NYSE:VNO). Employees Retirement Systems Of Texas has invested 0.16% of its portfolio in Vornado Realty Trust (NYSE:VNO). Aperio Ltd Llc has invested 0.05% of its portfolio in Vornado Realty Trust (NYSE:VNO). Security Capital & Management owns 2.34 million shares or 7.95% of their US portfolio. The Missouri-based Financial Service has invested 0% in Vornado Realty Trust (NYSE:VNO). Glg Ltd Llc, a New York-based fund reported 4,796 shares. Moreover, Barnett has 0.12% invested in Vornado Realty Trust (NYSE:VNO) for 2,166 shares. Kempen Cap Mgmt Nv has 0.93% invested in the company for 79,080 shares. Blackrock Advsrs Lc has invested 0.02% of its portfolio in Vornado Realty Trust (NYSE:VNO). Capstone Asset Management Com owns 14,067 shares or 0.04% of their US portfolio. The Connecticut-based Conning Inc has invested 0.02% in Vornado Realty Trust (NYSE:VNO). Heitman Real Estate Ltd Llc holds 785,373 shares or 4.27% of its portfolio.

Insider Transactions: Since August 17, 2016, the stock had 1 insider buy, and 0 insider sales for $205,060 net activity. WIGHT RUSSELL B JR bought 2,000 shares worth $205,060.

More notable recent Vornado Realty Trust (NYSE:VNO) news were published by: Therealdeal.com which released: “Vornado Realty Trust is shopping its last LA property for $150M” on October 04, 2016, also Forbes.com with their article: “Vornado Realty Trust’s Series K Preferred Shares Yield Pushes Past 5.5%” published on August 19, 2016, Forbes.com published: “Ex-Dividend Reminder: Vornado Realty Trust, Seagate Technology and …” on May 04, 2016. More interesting news about Vornado Realty Trust (NYSE:VNO) were released by: Realmoney.Thestreet.com and their article: “Vornado Realty Trust: Is the Price Right?” published on August 02, 2016 as well as Chicagobusiness.com‘s news article titled: “Merchandise Mart refinanced with $675 million loan” with publication date: September 09, 2016.

VNO Company Profile

Vornado Realty Trust, incorporated on March 29, 1993, is a fully integrated real estate investment trust (REIT). The Firm conducts its business through, and its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). The Firm is the sole general partner of, and owns common limited partnership interest in the Operating Partnership. The Company’s divisions include New York and Washington, DC. The Firm also owns approximately 3.6 million square foot Mart (theMart) in Chicago; interest in 555 California Street; interest in Vornado Capital Partners; its real estate fund, interest in Toys “R” Us, Inc., and other real estate and other investments.

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