Odyssean LLC Makes New Investment in Vornado Realty Trust $VNO

Key Points

• Odyssean LLC acquired 77,680 shares of Vornado Realty Trust in the second quarter, valued at approximately $3.1 million. Institutional investors collectively own 90.02% of Vornado’s stock.
• Vornado’s latest quarterly earnings missed expectations, with EPS of $0.08 versus the $0.57 consensus estimate, although revenue rose 4.7% year over year to $462.24 million.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $39.82. The company also authorized a $300 million share-buyback plan, covering up to 5.4% of outstanding shares.

Odyssean LLC bought a new position in Vornado Realty Trust (NYSE:VNO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 77,680 shares of the real estate investment trust's stock, valued at approximately $3,053,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Vornado Realty Trust during the 4th quarter worth $579,709,000. Resolution Capital Ltd grew its position in Vornado Realty Trust by 34.1% during the first quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust's stock valued at $193,885,000 after buying an additional 1,895,846 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Vornado Realty Trust by 21.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust's stock worth $301,300,000 after buying an additional 1,598,643 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Vornado Realty Trust by 393,598.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,051,175 shares of the real estate investment trust's stock worth $34,983,000 after buying an additional 1,050,908 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Vornado Realty Trust by 129.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust's stock worth $36,344,000 after buying an additional 788,067 shares during the last quarter. Hedge funds and other institutional investors own 90.02% of the company's stock.

Insider Buying and Selling at Vornado Realty Trust

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

Analyst Upgrades and Downgrades

VNO has been the topic of a number of research analyst reports. UBS Group cut shares of Vornado Realty Trust to an "underweight" rating in a research note on Wednesday, July 22nd. Piper Sandler lifted their price target on shares of Vornado Realty Trust from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Mizuho upped their price objective on Vornado Realty Trust from $34.00 to $42.00 and gave the company an "outperform" rating in a research note on Tuesday, July 21st. LADENBURG THALM/SH SH upped their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Finally, Citigroup increased their price objective on Vornado Realty Trust from $34.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $39.82.

Vornado Realty Trust Price Performance

NYSE VNO opened at $39.93 on Wednesday. The company has a market cap of $7.46 billion, a PE ratio of 1,997.60, a price-to-earnings-growth ratio of 1.80 and a beta of 1.53. Vornado Realty Trust has a 52 week low of $24.57 and a 52 week high of $43.37. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.56. The firm's 50-day simple moving average is $39.13 and its two-hundred day simple moving average is $33.08.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.49). Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The business had revenue of $462.24 million for the quarter, compared to the consensus estimate of $454.46 million. During the same quarter in the prior year, the business earned $0.56 EPS. Vornado Realty Trust's revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that Vornado Realty Trust will post 2.35 earnings per share for the current year.

Vornado Realty Trust announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 29th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

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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