Vornado Realty Trust $VNO Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its Vornado Realty Trust stake by 5.7% in the first quarter, acquiring 68,267 additional shares and bringing its holdings to 1.27 million shares valued at approximately $32.9 million. Institutional investors and hedge funds collectively own 90.02% of Vornado.
• Analyst sentiment remains mixed: Vornado has an average “Hold” rating and a consensus price target of $39.83, with recent target increases from BMO, Truist and Mizuho offset by downgrades from Morgan Stanley and Weiss Ratings.
• Vornado reported quarterly EPS of $0.08, missing estimates of $0.57, although revenue rose 4.7% year over year to $462.24 million. The company also authorized a $300 million share-repurchase program, covering up to 5.4% of outstanding shares.

Bank of America Corp DE lifted its holdings in Vornado Realty Trust (NYSE:VNO - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,266,476 shares of the real estate investment trust's stock after purchasing an additional 68,267 shares during the quarter. Bank of America Corp DE owned 0.67% of Vornado Realty Trust worth $32,916,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in Vornado Realty Trust in the first quarter worth about $1,206,000. Pacific Heights Asset Management LLC lifted its holdings in Vornado Realty Trust by 75.0% in 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 acquiring an additional 150,000 shares during the last quarter. Legal & General Group Plc boosted its position in shares of 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 purchasing an additional 149,598 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 purchasing an additional 62,569 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new position in shares of Vornado Realty Trust in the 1st quarter worth approximately $2,102,000. 90.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VNO has been the topic of a number of research reports. Weiss Ratings downgraded shares of Vornado Realty Trust from a "hold (c)" rating to a "sell (d+)" rating in a report on Tuesday, August 4th. BMO Capital Markets raised their target price 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. Morgan Stanley lowered shares of Vornado Realty Trust from an "equal weight" rating to an "underweight" rating and set a $32.00 price target on the stock. in a research report on Wednesday, July 22nd. Truist Financial upped 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, Mizuho increased their price objective on Vornado Realty Trust from $34.00 to $42.00 and gave the company an "outperform" rating in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $39.83.

Vornado Realty Trust Price Performance

VNO stock opened at $38.96 on Friday. Vornado Realty Trust has a one year low of $24.57 and a one year high of $43.37. The firm has a 50-day moving average of $39.07 and a two-hundred day moving average of $32.71. The firm has a market capitalization of $7.28 billion, a PE ratio of 1,949.17, 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 (NYSE:VNO - Get Free Report) last released its earnings results 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 firm had revenue of $462.24 million during the quarter, compared to analysts' expectations of $454.46 million. During the same period last year, the business earned $0.56 earnings per share. The business's revenue was up 4.7% on a year-over-year basis. On average, analysts forecast 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 initiated a stock repurchase program on Wednesday, April 29th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Russell B. Wight, Jr. bought 4,000 shares of the business's stock in a transaction on Monday, June 8th. The shares were bought at an average cost of $16.94 per share, with a total value of $67,760.00. Following the purchase, the director directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Fascitelli sold 133,350 shares of the 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 completion of the sale, the director owned 475,161 shares of the company's stock, valued at $17,400,395.82. The trade was 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.

Vornado Realty Trust Company 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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