Russell B. Wight Jr., Director at VORNADO REALTY TRUST (VNO), bought 1,000 shares at $17.69 ($18K) on 2026-06-08, disclosed to the SEC on 2026-06-10.
Director Russell B. Wight Jr. purchased 1,000 shares for $17,690, marking his first purchase in over a decade following nine consecutive sales. This rare reversal may signal confidence in Vornado's turnaround strategy, particularly as the stock trades near its 52-week low.
The stock is down 34.19% over the past year and currently sits 37.38% below its 52-week high of $43.37, trading near the low end of its range at $27.16.
Catalysts include the PENN 2 redevelopment reaching a 90% leasing milestone on June 10, 2026, and the Q1 2026 results on May 18, 2026, which included a net loss of $7.32 million and a $161 million refinancing. Furthermore, the insider purchase is the largest in the company's history, potentially signaling a bottom in the valuation.
A key risk is the proposed NYC pied-a-terre tax surcharge on second homes, announced on May 7, 2026, which could impact local real estate sentiment. Additionally, the stock trades at a forward P/E of 153.12, which is high relative to its TTM P/E of 10.49.
Something here stands out, but not much.
| Filing → |
| VNO | SELL | 2024-07-12 | $56K | — | Filing → |
| VNO | SELL | 2023-12-15 | $877K | — | Filing → |
| VNO | SELL | 2023-12-12 | $140K | — | Filing → |