Prospect Financial Services LLC lowered its stake in shares of Vornado Realty Trust (NYSE:VNO – Free Report) by 28.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,214 shares of the real estate investment trust’s stock after selling 28,456 shares during the period. Vornado Realty Trust accounts for about 1.1% of Prospect Financial Services LLC’s investment portfolio, making the stock its 26th biggest holding. Prospect Financial Services LLC’s holdings in Vornado Realty Trust were worth $1,825,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Danske Bank A S purchased a new position in shares of Vornado Realty Trust in the 3rd quarter valued at $28,000. Farmers & Merchants Investments Inc. lifted its stake 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 bought a new stake in Vornado Realty Trust during the third quarter valued at about $33,000. Employees Retirement System of Texas bought a new stake in Vornado Realty Trust during the fourth quarter valued at about $36,000. Finally, Inspire Investing LLC purchased a new position in Vornado Realty Trust in the fourth quarter valued at about $38,000. Institutional investors own 90.02% of the company’s stock.
Insider Activity
In related news, Director Russell B. Wight, Jr. bought 4,000 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the purchase, the director directly owned 13,000 shares of the company’s stock, valued at approximately $220,220. This trade represents a 44.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Fascitelli sold 133,350 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the sale, the director directly owned 475,161 shares in the company, valued at approximately $17,400,395.82. This represents a 21.91% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 9.00% of the company’s stock.
Vornado Realty Trust Stock Up 1.9%
Vornado Realty Trust (NYSE:VNO – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). The business had revenue of $459.11 million during the quarter, compared to analysts’ expectations of $431.71 million. Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. On average, research analysts expect that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.
Vornado Realty Trust declared that its board has initiated a share buyback program on Wednesday, April 29th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Truist Financial boosted their target price on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 9th. Piper Sandler cut their price objective on shares of Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. boosted 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, May 28th. Finally, BMO Capital Markets increased their target price on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Four investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.33.
Get Our Latest Report 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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