Baird Financial Group Inc. Purchases 9,610 Shares of Vornado Realty Trust $VNO

Key Points

• Baird Financial Group Inc. significantly increased its holdings in Vornado Realty Trust by 119.1% during the first quarter, now owning 17,680 shares valued at approximately $654,000.
• In addition to Baird, other institutional investors, including SG Americas Securities and Teacher Retirement System of Texas, have also acquired new stakes in Vornado Realty Trust, highlighting strong interest from institutional investors, who own 90.02% of the stock.
• The company's recent quarterly earnings exceeded analysts' expectations, reporting $0.56 earnings per share and a net margin of 48.49%, despite a 2.0% decline in revenue year-over-year.

Baird Financial Group Inc. lifted its position in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 119.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,680 shares of the real estate investment trust's stock after acquiring an additional 9,610 shares during the quarter. Baird Financial Group Inc.'s holdings in Vornado Realty Trust were worth $654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VNO. Invesco Ltd. raised its stake in Vornado Realty Trust by 34.0% during the first quarter. Invesco Ltd. now owns 4,203,184 shares of the real estate investment trust's stock worth $155,476,000 after buying an additional 1,067,284 shares during the last quarter. Nuveen LLC bought a new position in shares of Vornado Realty Trust during the 1st quarter worth approximately $38,284,000. Centersquare Investment Management LLC grew its position in shares of Vornado Realty Trust by 32.2% during the 1st quarter. Centersquare Investment Management LLC now owns 2,595,901 shares of the real estate investment trust's stock worth $96,022,000 after buying an additional 632,721 shares during the period. Deutsche Bank AG increased its stake in shares of Vornado Realty Trust by 21.3% in the 1st quarter. Deutsche Bank AG now owns 2,952,900 shares of the real estate investment trust's stock valued at $109,228,000 after acquiring an additional 517,773 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its stake in Vornado Realty Trust by 106.1% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 972,817 shares of the real estate investment trust's stock worth $35,985,000 after acquiring an additional 500,861 shares in the last quarter. Institutional investors own 90.02% of the company's stock.

Vornado Realty Trust Stock Performance

Shares of NYSE VNO traded up $0.08 during trading on Tuesday, reaching $42.15. 2,420,577 shares of the stock traded hands, compared to its average volume of 1,944,585. The company has a debt-to-equity ratio of 1.40, a current ratio of 6.82 and a quick ratio of 6.82. The stock has a market capitalization of $8.09 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 5.34 and a beta of 1.58. Vornado Realty Trust has a 52-week low of $29.68 and a 52-week high of $46.63. The company has a 50-day moving average of $38.65 and a 200-day moving average of $37.92.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 19.64%. The firm had revenue of $441.44 million during the quarter, compared to analyst estimates of $468.79 million. During the same quarter last year, the business earned $0.57 earnings per share. The company's quarterly revenue was down 2.0% on a year-over-year basis. Analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Bank of America dropped their price target on Vornado Realty Trust from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Monday, August 25th. Citigroup upgraded shares of Vornado Realty Trust from a "sell" rating to a "neutral" rating and boosted their price target for the company from $34.00 to $42.00 in a research note on Friday. Mizuho reduced their price objective on shares of Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Monday, July 14th. Truist Financial boosted their target price on shares of Vornado Realty Trust from $38.00 to $40.00 and gave the stock a "hold" rating in a research report on Friday. Finally, Barclays lifted their price target on Vornado Realty Trust from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $38.64.

Insider Activity

In related news, EVP Haim Chera sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $39.64, for a total transaction of $1,189,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.42% of the company's stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully - integrated equity real estate investment trust.