Norges Bank acquired a new position in shares of Vornado Realty Trust (NYSE:VNO – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,419,128 shares of the real estate investment trust’s stock, valued at approximately $579,709,000. Norges Bank owned 9.07% of Vornado Realty Trust as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC boosted its stake in Vornado Realty Trust by 93.5% during the fourth quarter. Rothschild Investment LLC now owns 1,480 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 715 shares during the period. Geode Capital Management LLC boosted its stake in Vornado Realty Trust by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 3,354,542 shares of the real estate investment trust’s stock worth $111,658,000 after buying an additional 77,754 shares during the period. Knights of Columbus Asset Advisors LLC purchased a new position in Vornado Realty Trust during the fourth quarter worth $1,329,000. Employees Retirement System of Texas purchased a new position in Vornado Realty Trust during the fourth quarter worth $36,000. Finally, Legal & General Group Plc boosted its stake in Vornado Realty Trust by 9.1% during the fourth quarter. Legal & General Group Plc now owns 1,789,601 shares of the real estate investment trust’s stock worth $59,558,000 after buying an additional 149,598 shares during the period. 90.02% of the stock is owned by hedge funds and other institutional investors.
Vornado Realty Trust Stock Performance
Shares of Vornado Realty Trust stock opened at $33.75 on Monday. Vornado Realty Trust has a one year low of $24.57 and a one year high of $43.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 6.14 and a current ratio of 6.14. The company has a market capitalization of $6.35 billion, a PE ratio of 9.27, a P/E/G ratio of 1.71 and a beta of 1.56. The company has a 50-day simple moving average of $29.02 and a two-hundred day simple moving average of $31.02.
Vornado Realty Trust declared that its board has initiated a stock buyback 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Barclays dropped their price objective on shares of Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup lifted their price objective on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen lowered shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings downgraded Vornado Realty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Vornado Realty Trust presently has an average rating of “Hold” and an average price target of $34.55.
Check Out Our Latest Analysis on Vornado Realty Trust
Vornado Realty Trust 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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