SG Americas Securities LLC Acquires 276,104 Shares of Vornado Realty Trust $VNO

Key Points

• SG Americas Securities sharply increased its stake in Vornado Realty Trust, buying 276,104 additional shares in Q1 and boosting holdings by 376.3% to 349,468 shares worth about $9.1 million.
• Insider activity was mixed: Director Michael D. Fascitelli sold 133,350 shares, while Director Russell B. Wight Jr. bought 4,000 shares, showing both selling and buying among company insiders.
• Vornado’s latest results and outlook were mixed. The REIT missed earnings estimates in its most recent quarter, but revenue came in above expectations, and the board also authorized a $300 million share buyback.

SG Americas Securities LLC grew its holdings in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 376.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 349,468 shares of the real estate investment trust's stock after buying an additional 276,104 shares during the quarter. SG Americas Securities LLC owned 0.19% of Vornado Realty Trust worth $9,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its stake in Vornado Realty Trust by 6.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,533 shares of the real estate investment trust's stock worth $351,000 after purchasing an additional 680 shares during the period. Corient Private Wealth LLC lifted its position in shares of Vornado Realty Trust by 14.0% during the fourth quarter. Corient Private Wealth LLC now owns 45,759 shares of the real estate investment trust's stock worth $1,523,000 after purchasing an additional 5,602 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Vornado Realty Trust by 17.2% during the fourth quarter. Hsbc Holdings PLC now owns 303,616 shares of the real estate investment trust's stock valued at $10,106,000 after purchasing an additional 44,559 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Vornado Realty Trust during the fourth quarter valued at $86,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Vornado Realty Trust by 0.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,497,296 shares of the real estate investment trust's stock worth $49,830,000 after purchasing an additional 7,559 shares during the last quarter. 90.02% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Michael D. Fascitelli sold 133,350 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director owned 475,161 shares of the company's stock, valued at approximately $17,400,395.82. This represents a 21.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Russell B. Wight, Jr. acquired 4,000 shares of the company's stock in a transaction dated Monday, June 8th. The shares were acquired at an average price of $16.94 per share, for a total transaction of $67,760.00. Following the completion of the purchase, the director owned 13,000 shares of the company's stock, valued at approximately $220,220. This represents a 44.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 9.00% of the company's stock.

Analyst Upgrades and Downgrades

VNO has been the subject of a number of research analyst reports. Scotiabank lifted their price objective on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the company a "sector perform" rating in a report on Thursday, June 18th. Piper Sandler dropped their target price on shares of Vornado Realty Trust from $36.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings raised shares of Vornado Realty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 9th. Truist Financial lifted their price target on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the company a "hold" rating in a research note on Friday. Finally, BMO Capital Markets boosted their price target on Vornado Realty Trust from $33.00 to $43.00 and gave the company an "outperform" rating in a report on Monday, June 15th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Vornado Realty Trust presently has a consensus rating of "Hold" and an average price target of $36.33.

Vornado Realty Trust Stock Performance

Shares of Vornado Realty Trust stock opened at $39.14 on Friday. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. The stock's fifty day moving average price is $33.35 and its 200-day moving average price is $31.30. The firm has a market cap of $7.36 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.97 and a beta 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 released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $459.11 million during the quarter, compared to analysts' expectations of $431.71 million. During the same period last year, the company earned $0.63 earnings per share. The firm's revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.

Vornado Realty Trust announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

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.

Want to see what other hedge funds are holding VNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vornado Realty Trust (NYSE:VNO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.