Geode Capital Management LLC Has $111.66 Million Holdings in Vornado Realty Trust $VNO

Geode Capital Management LLC raised its stake in Vornado Realty Trust (NYSE:VNO) by 2.4% in the 4th quarter, HoldingsChannel reports. The fund owned 3,354,542 shares of the real estate investment trust’s stock after buying an additional 77,754 shares during the quarter. Geode Capital Management LLC’s holdings in Vornado Realty Trust were worth $111,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VNO. Resolution Capital Ltd acquired a new stake in Vornado Realty Trust in the 2nd quarter valued at about $49,565,000. GRS Advisors LLC acquired a new stake in Vornado Realty Trust in the 3rd quarter valued at about $32,082,000. Candriam S.C.A. increased its position in Vornado Realty Trust by 173.8% in the 3rd quarter. Candriam S.C.A. now owns 785,413 shares of the real estate investment trust’s stock valued at $31,833,000 after acquiring an additional 498,564 shares in the last quarter. Sei Investments Co. increased its position in Vornado Realty Trust by 44.9% in the 2nd quarter. Sei Investments Co. now owns 1,067,333 shares of the real estate investment trust’s stock valued at $40,815,000 after acquiring an additional 330,942 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Vornado Realty Trust by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 12,309,059 shares of the real estate investment trust’s stock valued at $498,886,000 after acquiring an additional 274,313 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on VNO. Mizuho lowered their price objective on shares of Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Scotiabank lifted their price target on shares of Vornado Realty Trust from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 21st. Wall Street Zen cut shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Weiss Ratings cut shares of Vornado Realty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, Barclays lowered their price target on shares of Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating for the company in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Vornado Realty Trust currently has an average rating of “Hold” and a consensus price target of $34.55.

Vornado Realty Trust Stock Up 1.0%

Shares of NYSE:VNO opened at $35.26 on Friday. Vornado Realty Trust has a one year low of $24.57 and a one year high of $43.37. The company has a 50 day moving average of $29.86 and a 200-day moving average of $31.02. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 1.76 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The business had revenue of $459.11 million for the quarter, compared to analyst estimates of $431.72 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that Vornado Realty Trust will post 2.34 earnings per share for the current year.

Vornado Realty Trust declared that its Board of Directors has initiated a share buyback 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 typically an indication that the company’s board believes its shares are undervalued.

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.