Northwestern Mutual Wealth Management Co. Buys 62,569 Shares of Vornado Realty Trust $VNO

Key Points

• Northwestern Mutual Wealth Management dramatically increased its Vornado Realty Trust stake in Q4, buying 62,569 shares and lifting its holdings to 62,824 shares valued at about $2.09 million.
• Other institutional investors also added to VNO, and institutions now own 90.02% of the company’s shares, underscoring continued heavy Wall Street interest in the REIT.
• Vornado reported a quarterly EPS miss of $0.12 versus the expected $0.05 loss, while revenue topped estimates; the company also authorized a $300 million share buyback and analysts currently rate the stock a consensus Hold.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 24,536.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,824 shares of the real estate investment trust's stock after buying an additional 62,569 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Vornado Realty Trust were worth $2,091,000 at the end of the most recent reporting period.

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

Vornado Realty Trust Stock Performance

Shares of VNO opened at $32.75 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14. Vornado Realty Trust has a one year low of $24.57 and a one year high of $43.37. The firm has a market capitalization of $6.16 billion, a P/E ratio of 9.00, a PEG ratio of 1.62 and a beta of 1.53. The business has a fifty day moving average of $28.56 and a 200 day moving average of $31.08.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) 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 during the quarter, compared to the consensus estimate of $431.72 million. During the same period in the previous year, the firm earned $0.63 EPS. The business's revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 2.33 EPS for the current year.

Vornado Realty Trust announced that its Board of Directors has approved a stock buyback program 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 reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on VNO shares. Mizuho reduced their target price 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. Citigroup lifted their target price on Vornado Realty Trust from $32.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Morgan Stanley reduced their target price on Vornado Realty Trust from $32.00 to $28.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Barclays reduced their target price on Vornado Realty Trust from $33.00 to $28.00 and set an "underweight" rating for the company in a report on Thursday, February 26th. Finally, Truist Financial reduced their target price on Vornado Realty Trust from $29.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, March 31st. 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 MarketBeat.com, the company has an average rating of "Hold" and an average price target of $34.18.

Vornado Realty Trust 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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