Lodge Hill Capital LLC Makes New Investment in Vornado Realty Trust $VNO

Key Points

• Lodge Hill Capital purchased 425,000 shares of Vornado Realty Trust worth approximately $11.05 million, making VNO a 1.6% portfolio position and representing 0.23% of the REIT’s shares.
• Other institutional investors, including Goldman Sachs and AQR Capital Management, increased their holdings, while institutional investors collectively own 90.02% of Vornado’s stock.
• Vornado authorized a $300 million share-repurchase plan, but its latest quarterly EPS missed estimates; analysts maintain a consensus “Hold” rating with a $39.17 price target.

Lodge Hill Capital LLC purchased a new stake in Vornado Realty Trust (NYSE:VNO - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 425,000 shares of the real estate investment trust's stock, valued at approximately $11,046,000. Vornado Realty Trust comprises approximately 1.6% of Lodge Hill Capital LLC's portfolio, making the stock its 21st biggest position. Lodge Hill Capital LLC owned 0.23% of Vornado Realty Trust as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in Vornado Realty Trust by 18.3% during the first quarter. Royal Bank of Canada now owns 27,507 shares of the real estate investment trust's stock valued at $1,017,000 after purchasing an additional 4,251 shares during the last quarter. AQR Capital Management LLC grew its position in Vornado Realty Trust by 18.7% in the first quarter. AQR Capital Management LLC now owns 51,939 shares of the real estate investment trust's stock worth $1,903,000 after buying an additional 8,189 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Vornado Realty Trust by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust's stock valued at $22,705,000 after buying an additional 112,956 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Vornado Realty Trust in the second quarter valued at $763,000. Finally, California Public Employees Retirement System lifted its position in shares of Vornado Realty Trust by 9.6% during the 2nd quarter. California Public Employees Retirement System now owns 365,237 shares of the real estate investment trust's stock valued at $13,967,000 after acquiring an additional 32,028 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

Insider Buying and Selling

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. purchased 4,000 shares of the company's stock in a transaction dated Monday, June 8th. The shares were bought at an average price of $16.94 per share, for a total transaction of $67,760.00. Following the purchase, the director directly owned 13,000 shares in the company, valued at $220,220. This trade represents a 44.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael D. Fascitelli sold 133,350 shares of Vornado Realty Trust stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the completion of the sale, the director directly owned 475,161 shares of the company's stock, valued at approximately $17,400,395.82. The trade was a 21.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.00% of the company's stock.

Vornado Realty Trust Trading Up 1.3%

Shares of NYSE:VNO opened at $40.58 on Thursday. The firm has a fifty day moving average of $37.61 and a two-hundred day moving average of $32.19. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 1.54. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $43.37. The firm has a market capitalization of $7.63 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 2.02 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The firm had revenue of $459.11 million for the quarter, compared to analysts' expectations of $431.71 million. During the same quarter in the prior year, the business posted $0.63 earnings per share. Vornado Realty Trust's revenue was down .5% on a year-over-year basis. On average, equities analysts expect that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

Vornado Realty Trust declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 29th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

VNO has been the topic of a number of recent research reports. Barclays lifted their target price on Vornado Realty Trust from $29.00 to $34.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Scotiabank boosted their price objective on Vornado Realty Trust from $38.00 to $40.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 21st. Mizuho raised their target price on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Truist Financial lifted their target price on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the stock a "hold" rating in a research report on Friday, June 26th. Finally, LADENBURG THALM/SH SH raised their price objective on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $39.17.

About Vornado Realty Trust

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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