Vanguard Group Inc. Sells 186,107 Shares of Vornado Realty Trust $VNO

Key Points

• Vanguard trimmed its stake in Vornado by 0.8%, selling 186,107 shares and now owns 23,356,587 shares—about 12.16% of the company valued at roughly $777.3 million.
• Vornado's board approved a $300 million share repurchase program, authorizing buybacks of up to 5.4% of outstanding shares.
• Analysts have cut price targets and ratings recently; the consensus rating is "Hold" with an average price target of $34.82.

Vanguard Group Inc. reduced its position in Vornado Realty Trust (NYSE:VNO - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,356,587 shares of the real estate investment trust's stock after selling 186,107 shares during the quarter. Vanguard Group Inc. owned about 12.16% of Vornado Realty Trust worth $777,307,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Spire Wealth Management boosted its position in shares of Vornado Realty Trust by 19.6% in the third quarter. Spire Wealth Management now owns 1,680 shares of the real estate investment trust's stock valued at $68,000 after acquiring an additional 275 shares during the period. Bfsg LLC boosted its position in shares of Vornado Realty Trust by 5.9% in the third quarter. Bfsg LLC now owns 5,036 shares of the real estate investment trust's stock valued at $204,000 after acquiring an additional 280 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Vornado Realty Trust by 4.8% in the fourth quarter. Farther Finance Advisors LLC now owns 7,706 shares of the real estate investment trust's stock valued at $256,000 after acquiring an additional 351 shares during the period. Arjuna Capital boosted its position in shares of Vornado Realty Trust by 5.4% in the third quarter. Arjuna Capital now owns 6,942 shares of the real estate investment trust's stock valued at $281,000 after acquiring an additional 358 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Vornado Realty Trust by 2.0% in the fourth quarter. Signaturefd LLC now owns 19,976 shares of the real estate investment trust's stock valued at $665,000 after acquiring an additional 389 shares during the period. 90.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on VNO shares. Piper Sandler cut their price objective on shares of Vornado Realty Trust from $36.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, April 1st. Mizuho dropped their target price on shares of Vornado Realty Trust from $40.00 to $34.00 and set an "outperform" rating for the company in a research report on Tuesday, February 24th. Wall Street Zen lowered shares of Vornado Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, February 14th. Truist Financial dropped their target price on shares of Vornado Realty Trust from $29.00 to $28.00 and set a "hold" rating for the company in a research report on Tuesday, March 31st. Finally, Barclays dropped their target price on shares of Vornado Realty Trust from $33.00 to $28.00 and set an "underweight" rating for the company in a research report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $34.82.

Vornado Realty Trust Trading Up 0.9%

Shares of Vornado Realty Trust stock opened at $30.17 on Friday. Vornado Realty Trust has a 1 year low of $24.57 and a 1 year high of $43.37. The firm has a market cap of $5.69 billion, a PE ratio of 7.20, a PEG ratio of 1.65 and a beta of 1.53. The company has a debt-to-equity ratio of 1.44, a current ratio of 5.25 and a quick ratio of 5.25. The company has a 50 day simple moving average of $27.33 and a two-hundred day simple moving average of $31.93.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its earnings results on Monday, February 9th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). Vornado Realty Trust had a net margin of 49.99% and a return on equity of 18.64%. The company had revenue of $453.71 million for the quarter, compared to the consensus estimate of $440.23 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. Analysts expect that Vornado Realty Trust will post 2.33 earnings per share for the current fiscal year.

Vornado Realty Trust declared that its board has approved a stock repurchase program on Wednesday, April 29th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is 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.

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