First Trust Advisors LP trimmed its position in Vornado Realty Trust (NYSE:VNO – Free Report) by 64.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,019 shares of the real estate investment trust’s stock after selling 41,947 shares during the period. First Trust Advisors LP’s holdings in Vornado Realty Trust were worth $598,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Danske Bank A S purchased a new position in shares of Vornado Realty Trust in the third quarter valued at approximately $28,000. Farmers & Merchants Investments Inc. increased its position in shares of Vornado Realty Trust by 512.9% during the fourth 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 in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Vornado Realty Trust during the third quarter worth approximately $33,000. Employees Retirement System of Texas acquired a new position in Vornado Realty Trust in the 4th quarter valued at $36,000. Finally, Inspire Investing LLC acquired a new position in Vornado Realty Trust in the 4th quarter valued at $38,000. 90.02% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Vornado Realty Trust
In other news, Director Russell B. Wight, Jr. acquired 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director owned 13,000 shares of the company’s stock, valued at $220,220. This trade represents a 44.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael D. Fascitelli sold 133,350 shares of the firm’s stock in a transaction dated 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 owned 475,161 shares of the company’s stock, valued at approximately $17,400,395.82. The trade was a 21.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.00% of the stock is owned by insiders.
Vornado Realty Trust Price Performance
Vornado Realty Trust (NYSE:VNO – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.49). The company had revenue of $462.24 million for the quarter, compared to analyst estimates of $454.46 million. Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. Equities research analysts expect that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.
Vornado Realty Trust announced that its board has authorized a stock repurchase plan on Wednesday, April 29th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
VNO has been the topic of a number of research reports. Mizuho raised their price objective on Vornado Realty Trust from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Citigroup increased their target price on shares of Vornado Realty Trust from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday. Barclays raised their price target on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of Vornado Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Vornado Realty Trust presently has an average rating of “Hold” and an average target price of $39.83.
View Our Latest Research Report on VNO
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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