Knights of Columbus Asset Advisors LLC Invests $1.33 Million in Vornado Realty Trust $VNO

Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Vornado Realty Trust (NYSE:VNO) during the 4th quarter, Holdings Channel reports. The fund acquired 39,933 shares of the real estate investment trust’s stock, valued at approximately $1,329,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Vornado Realty Trust by 18.3% in the first quarter. Royal Bank of Canada now owns 27,507 shares of the real estate investment trust’s stock worth $1,017,000 after buying an additional 4,251 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Vornado Realty Trust by 18.7% during the first quarter. AQR Capital Management LLC now owns 51,939 shares of the real estate investment trust’s stock valued at $1,903,000 after acquiring an additional 8,189 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Vornado Realty Trust by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust’s stock valued at $22,705,000 after acquiring an additional 112,956 shares in the last quarter. Marshall Wace LLP purchased a new position in Vornado Realty Trust in the 2nd quarter worth approximately $763,000. Finally, California Public Employees Retirement System raised its holdings in Vornado Realty Trust by 9.6% in the 2nd quarter. California Public Employees Retirement System now owns 365,237 shares of the real estate investment trust’s stock worth $13,967,000 after acquiring an additional 32,028 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Trading Up 1.7%

Shares of VNO stock opened at $33.87 on Friday. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $43.37. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. The firm’s 50 day moving average is $28.88 and its 200 day moving average is $31.04. The stock has a market capitalization of $6.37 billion, a P/E ratio of 9.30, a P/E/G ratio of 1.68 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). The company had revenue of $459.11 million for the quarter, compared to analysts’ expectations of $431.72 million. Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. Vornado Realty Trust’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Research analysts expect that Vornado Realty Trust will post 2.33 earnings per share for the current year.

Vornado Realty Trust announced that its board has approved a share repurchase plan on Wednesday, April 29th that permits the company to buyback $300.00 million in shares. This buyback authorization permits 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 board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on VNO shares. JPMorgan Chase & Co. increased their target price on Vornado Realty Trust from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday. Mizuho decreased their price target on Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Citigroup upped their price target on Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Piper Sandler dropped their price objective on 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. Finally, Wall Street Zen downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $34.55.

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.