Aew Capital Management L P Sells 201,580 Shares of Vornado Realty Trust $VNO

Key Points

• Aew Capital Management sharply reduced its Vornado Realty Trust stake by 93.5% in Q4, selling 201,580 shares and leaving it with 13,980 shares valued at about $465,000.
• Vornado reported mixed quarterly results: earnings of -$0.12 per share missed expectations, while revenue of $459.11 million came in above estimates and was only slightly lower year over year.
• The company’s board authorized a $300 million share repurchase plan, and analysts currently rate the stock Hold on average with a consensus price target of $34.09.

Aew Capital Management L P cut its stake in Vornado Realty Trust (NYSE:VNO - Free Report) by 93.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,980 shares of the real estate investment trust's stock after selling 201,580 shares during the quarter. Vornado Realty Trust comprises approximately 0.0% of Aew Capital Management L P's holdings, making the stock its 29th largest holding. Aew Capital Management L P's holdings in Vornado Realty Trust were worth $465,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in Vornado Realty Trust by 4.8% in the fourth quarter. Farther Finance Advisors LLC now owns 7,706 shares of the real estate investment trust's stock worth $256,000 after buying an additional 351 shares during the last quarter. Arjuna Capital lifted its stake in Vornado Realty Trust by 5.4% in the third quarter. Arjuna Capital now owns 6,942 shares of the real estate investment trust's stock worth $281,000 after purchasing an additional 358 shares during the last quarter. Signaturefd LLC lifted its stake in Vornado Realty Trust by 2.0% in the fourth quarter. Signaturefd LLC now owns 19,976 shares of the real estate investment trust's stock worth $665,000 after purchasing an additional 389 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Vornado Realty Trust by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 39,320 shares of the real estate investment trust's stock worth $1,504,000 after purchasing an additional 391 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Vornado Realty Trust by 15.5% in the third quarter. Brown Brothers Harriman & Co. now owns 2,976 shares of the real estate investment trust's stock worth $121,000 after purchasing an additional 400 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Stock Performance

Vornado Realty Trust stock opened at $31.59 on Thursday. The company has a 50 day moving average price of $28.09 and a 200-day moving average price of $31.21. The company has a debt-to-equity ratio of 1.54, a quick ratio of 6.14 and a current ratio of 6.14. Vornado Realty Trust has a fifty-two week low of $24.57 and a fifty-two week high of $43.37. The company has a market capitalization of $5.94 billion, a PE ratio of 8.68, a P/E/G ratio of 1.53 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The company had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.72 million. During the same period in the prior year, the firm posted $0.63 EPS. The business's revenue was down .5% on a year-over-year basis. As a group, equities analysts forecast that Vornado Realty Trust will post 2.33 earnings per share for the current year.

Vornado Realty Trust announced that its board has authorized a stock repurchase plan on Wednesday, April 29th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Vornado Realty Trust from $36.00 to $28.00 and set a "neutral" rating for the company in a research note on Wednesday, April 1st. Barclays decreased their price objective on shares of Vornado Realty Trust from $33.00 to $28.00 and set an "underweight" rating for the company in a research note on Thursday, February 26th. Scotiabank decreased their target price on Vornado Realty Trust from $36.00 to $32.00 and set a "sector perform" rating for the company in a research report on Monday, March 2nd. Weiss Ratings downgraded Vornado Realty Trust from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Vornado Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, February 14th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vornado Realty Trust presently has a consensus rating of "Hold" and an average price target of $34.09.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a self‐administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado's business model emphasizes long‐term cash flow generation through stable rental income and disciplined portfolio optimization.

The company's core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street‐level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.

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