Baird Financial Group Inc. Grows Stock Position in 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. grew its holdings in Vornado Realty Trust (NYSE:VNO - Free Report) by 119.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,680 shares of the real estate investment trust's stock after purchasing 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 quarter.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Vornado Realty Trust in the first quarter valued at approximately $2,151,000. Teacher Retirement System of Texas acquired a new stake in shares of Vornado Realty Trust in the first quarter valued at approximately $876,000. Handelsbanken Fonder AB grew its position in shares of Vornado Realty Trust by 20.7% in the first quarter. Handelsbanken Fonder AB now owns 51,300 shares of the real estate investment trust's stock valued at $1,898,000 after purchasing an additional 8,800 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Vornado Realty Trust by 18.2% in the first quarter. GAMMA Investing LLC now owns 5,636 shares of the real estate investment trust's stock valued at $208,000 after purchasing an additional 868 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Vornado Realty Trust by 16.4% in the first quarter. Fifth Third Bancorp now owns 2,214 shares of the real estate investment trust's stock valued at $82,000 after purchasing an additional 312 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vornado Realty Trust news, EVP Haim Chera sold 30,000 shares of the 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 transaction was disclosed in a filing with the SEC, which is available at this link. 8.42% of the stock is currently owned by corporate insiders.

Vornado Realty Trust Stock Performance

NYSE:VNO opened at $40.42 on Thursday. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.40. The company has a market cap of $7.76 billion, a P/E ratio of 10.00, a P/E/G ratio of 5.08 and a beta of 1.58. Vornado Realty Trust has a fifty-two week low of $29.68 and a fifty-two week high of $46.63. The firm's 50 day moving average is $38.28 and its two-hundred day moving average is $37.88.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly 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. The company had revenue of $441.44 million for the quarter, compared to the consensus estimate of $468.79 million. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 19.64%. Vornado Realty Trust's revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. Analysts expect that Vornado Realty Trust will post 2.31 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Evercore ISI lowered their price target on shares of Vornado Realty Trust from $45.00 to $44.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Bank of America lowered their price target on shares of Vornado Realty Trust from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Monday, August 25th. Truist Financial raised their target price on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. Finally, Mizuho decreased their target price on shares of Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Vornado Realty Trust currently has a consensus rating of "Hold" and an average target price of $37.90.

Vornado Realty Trust Company Profile

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

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