Franklin Resources Inc. Buys 195,111 Shares of Vornado Realty Trust $VNO

Key Points

• Franklin Resources increased its stake in Vornado Realty Trust by 1.6% in the fourth quarter, buying 195,111 shares and bringing its total holding to 12.5 million shares worth about $416.1 million.
• Vornado reported mixed quarterly results, missing EPS estimates with a loss of $0.12 per share even as revenue came in above expectations at $459.11 million.
• The company’s board authorized a $300 million share repurchase program, while Wall Street’s overall view remains cautious with an average Hold rating and a consensus price target of $34.55.

Franklin Resources Inc. increased its position in Vornado Realty Trust (NYSE:VNO - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,504,170 shares of the real estate investment trust's stock after purchasing an additional 195,111 shares during the period. Franklin Resources Inc. owned approximately 6.51% of Vornado Realty Trust worth $416,139,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Danske Bank A S purchased a new position in Vornado Realty Trust in the third quarter worth about $28,000. Farmers & Merchants Investments Inc. lifted its stake in shares of Vornado Realty Trust by 512.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust's stock worth $29,000 after buying an additional 718 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Vornado Realty Trust during the third quarter valued at approximately $33,000. Employees Retirement System of Texas purchased a new stake in shares of Vornado Realty Trust during the fourth quarter valued at approximately $36,000. Finally, BOKF NA increased its position in shares of Vornado Realty Trust by 1,257.1% during the third quarter. BOKF NA now owns 1,140 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 1,056 shares in the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Stock Performance

VNO stock opened at $36.20 on Tuesday. The company has a market cap of $6.81 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.78 and a beta of 1.56. Vornado Realty Trust has a 1 year low of $24.57 and a 1 year high of $43.37. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14. The stock's fifty day moving average price is $30.07 and its 200-day moving average price is $31.03.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). The firm had revenue of $459.11 million for the quarter, compared to analysts' expectations of $431.72 million. Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The firm's revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 EPS. On average, equities analysts forecast that Vornado Realty Trust will post 2.34 earnings per share for the current year.

Vornado Realty Trust declared that its board has initiated a share repurchase program on Wednesday, April 29th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup upped their price objective on Vornado Realty Trust from $32.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Scotiabank boosted their price target on Vornado Realty Trust from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 21st. Morgan Stanley dropped their price objective on Vornado Realty Trust from $32.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Mizuho reduced their price objective on Vornado Realty Trust from $40.00 to $34.00 and set an "outperform" rating for the company in a report on Tuesday, February 24th. Finally, Weiss Ratings lowered Vornado Realty Trust from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Vornado Realty Trust presently has an average rating of "Hold" and an average target price of $34.55.

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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