Pacer Advisors Inc. Sells 1,478,726 Shares of Vornado Realty Trust $VNO

Key Points

• Pacer Advisors slashed its Vornado Realty Trust stake by 98.8% in the first quarter, selling 1,478,726 shares and retaining 18,570 shares valued at approximately $483,000.
• Vornado reported quarterly EPS of $0.08, missing analyst estimates of $0.57, while revenue rose 4.7% year over year to $462.24 million. The company also authorized a $300 million share-repurchase program.
• Analyst sentiment remains mixed, with four Buy, six Hold and four Sell ratings; the consensus rating is Hold with a target price of $39.83, near the stock’s reported $38.83 price.

Pacer Advisors Inc. cut its stake in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 98.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,570 shares of the real estate investment trust's stock after selling 1,478,726 shares during the quarter. Pacer Advisors Inc.'s holdings in Vornado Realty Trust were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System bought a new position in shares of Vornado Realty Trust in the first quarter worth approximately $1,206,000. Pacific Heights Asset Management LLC raised its holdings in Vornado Realty Trust by 75.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 350,000 shares of the real estate investment trust's stock valued at $11,648,000 after buying an additional 150,000 shares during the last quarter. Legal & General Group Plc raised its holdings in Vornado Realty Trust by 9.1% during the 4th quarter. Legal & General Group Plc now owns 1,789,601 shares of the real estate investment trust's stock valued at $59,558,000 after buying an additional 149,598 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Vornado Realty Trust by 24,536.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 62,824 shares of the real estate investment trust's stock valued at $2,091,000 after buying an additional 62,569 shares during the period. Finally, Advisors Preferred LLC purchased a new stake in Vornado Realty Trust during the 1st quarter valued at $2,102,000. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Trading Down 0.2%

NYSE:VNO opened at $38.83 on Wednesday. The company has a 50-day moving average price of $38.79 and a 200-day moving average price of $32.57. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 1,942.52, a P/E/G ratio of 1.96 and a beta of 1.53. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.56. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.49). Vornado Realty Trust had a net margin of 3.71% and a return on equity of 1.37%. The company had revenue of $462.24 million for the quarter, compared to analysts' expectations of $454.46 million. During the same quarter in the prior year, the firm earned $0.56 EPS. Vornado Realty Trust's quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Vornado Realty Trust will post 2.34 EPS for the current year.

Vornado Realty Trust declared that its board has initiated a share repurchase 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on VNO. LADENBURG THALM/SH SH boosted their price objective on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Weiss Ratings lowered shares of Vornado Realty Trust from a "hold (c)" rating to a "sell (d+)" rating in a report on Tuesday, August 4th. UBS Group cut Vornado Realty Trust to an "underweight" rating in a research note on Wednesday, July 22nd. Morgan Stanley downgraded Vornado Realty Trust from an "equal weight" rating to an "underweight" rating and set a $32.00 price target on the stock. in a report on Wednesday, July 22nd. Finally, Piper Sandler upped their price target on Vornado Realty Trust from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.83.

Insider Activity

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

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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