Renaissance Technologies LLC Boosts Stake in Vornado Realty Trust $VNO

Key Points

• Renaissance Technologies increased its Vornado Realty Trust stake by 1,758.2% in the first quarter, acquiring 154,700 additional shares for a total holding of 163,499 shares valued at approximately $4.25 million. Institutional investors and hedge funds own 90.02% of Vornado’s stock.
• Analyst views remain mixed: Vornado has a consensus “Hold” rating and an average price target of $39.33, with four Buy, six Hold, and four Sell ratings.
• Vornado reported quarterly revenue of $462.24 million, up 4.7% year over year, but earnings per share of $0.08 fell well short of the $0.57 consensus estimate. The company also authorized a $300 million share buyback, allowing repurchases of up to 5.4% of outstanding shares.

Renaissance Technologies LLC raised its stake in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 1,758.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,499 shares of the real estate investment trust's stock after buying an additional 154,700 shares during the quarter. Renaissance Technologies LLC owned about 0.09% of Vornado Realty Trust worth $4,249,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in VNO. Danske Bank A S acquired a new stake in shares of Vornado Realty Trust during the third quarter valued at $28,000. Farmers & Merchants Investments Inc. raised its stake in Vornado Realty Trust by 512.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 718 shares during the last quarter. Advisory Services Network LLC acquired a new position in Vornado Realty Trust in the 3rd quarter valued at about $33,000. Employees Retirement System of Texas purchased a new position in Vornado Realty Trust in the 4th quarter valued at about $36,000. Finally, Inspire Investing LLC purchased a new position in Vornado Realty Trust in the 4th quarter valued at about $38,000. 90.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the stock an "outperform" rating in a report on Monday, June 15th. Barclays upped their price objective on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Morgan Stanley cut shares of Vornado Realty Trust from an "equal weight" rating to an "underweight" rating and set a $32.00 target price for the company. in a research note on Wednesday, July 22nd. Truist Financial boosted their price target on Vornado Realty Trust from $28.00 to $39.00 and gave the company a "hold" rating in a report on Friday, June 26th. Finally, Weiss Ratings lowered Vornado Realty Trust from a "hold (c)" rating to a "sell (d+)" rating in a research note on Tuesday. Four equities 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 company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $39.33.

Vornado Realty Trust Stock Down 2.4%

VNO opened at $38.94 on Friday. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37. The business has a 50-day moving average of $38.48 and a two-hundred day moving average of $32.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 6.14. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 1,947.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $462.24 million for the quarter, compared to analysts' expectations of $454.46 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The company's revenue was up 4.7% on a year-over-year basis. On average, research analysts expect that Vornado Realty Trust will post 2.34 earnings per share for the current year.

Vornado Realty Trust announced that its board has initiated a share buyback plan on Wednesday, April 29th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Russell B. Wight, Jr. purchased 4,000 shares of the business's stock in a transaction on Monday, June 8th. The shares were bought at an average price of $16.94 per share, with a total value of $67,760.00. Following the completion of the purchase, the director directly owned 13,000 shares in the company, valued at approximately $220,220. This trade represents a 44.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction, the director owned 475,161 shares in the company, valued at approximately $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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