California State Teachers Retirement System lifted its stake in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 24.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,244 shares of the real estate investment trust's stock after purchasing an additional 38,289 shares during the period. California State Teachers Retirement System owned about 0.10% of Vornado Realty Trust worth $5,022,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Danske Bank A S purchased a new position in shares of Vornado Realty Trust in the third quarter worth about $28,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Vornado Realty Trust by 512.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 718 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Vornado Realty Trust during the 3rd quarter worth approximately $33,000. Employees Retirement System of Texas purchased a new stake in shares of Vornado Realty Trust in the fourth quarter valued at approximately $36,000. Finally, Inspire Investing LLC purchased a new stake in shares of Vornado Realty Trust in the fourth quarter valued at approximately $38,000. 90.02% of the stock is owned by institutional investors and hedge funds.
Vornado Realty Trust Trading Down 2.4%
Shares of VNO stock opened at $38.94 on Friday. Vornado Realty Trust has a fifty-two week low of $24.57 and a fifty-two week high of $43.37. The company has a 50 day moving average price of $38.48 and a 200 day moving average price of $32.44. The stock has a market capitalization of $7.27 billion, a P/E ratio of 1,947.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.53. The company has a debt-to-equity ratio of 1.56, a quick ratio of 6.14 and a current ratio of 5.24.
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 (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $462.24 million for the quarter, compared to analyst estimates of $454.46 million. During the same quarter last year, the company earned $0.56 earnings per share. Vornado Realty Trust's quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.
Vornado Realty Trust announced that its board has initiated a share buyback plan on Wednesday, April 29th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.
Insider Buying and Selling at Vornado Realty Trust
In related news, 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 transaction, the director directly owned 475,161 shares of the company's stock, valued at $17,400,395.82. This trade represents a 21.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Russell B. Wight, Jr. acquired 4,000 shares of Vornado Realty Trust stock in a transaction on Monday, June 8th. The stock was purchased at an average price of $16.94 per share, with a total value of $67,760.00. Following the purchase, the director owned 13,000 shares of the company's stock, valued at $220,220. The trade was a 44.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 9.00% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Mizuho lifted their price target on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Truist Financial raised their price objective on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the stock a "hold" rating in a research report on Friday, June 26th. Barclays increased their price target 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. Citigroup increased their price objective on Vornado Realty Trust from $32.00 to $34.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Finally, BMO Capital Markets raised their price objective on Vornado Realty Trust from $33.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, June 15th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $39.33.
Get Our Latest Stock Report on VNO
About Vornado Realty Trust
(
Free Report)
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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