Fox Run Management L.L.C. Boosts Position in Vornado Realty Trust $VNO

Fox Run Management L.L.C. grew its stake in Vornado Realty Trust (NYSE:VNO) by 603.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,315 shares of the real estate investment trust’s stock after buying an additional 42,303 shares during the quarter. Fox Run Management L.L.C.’s holdings in Vornado Realty Trust were worth $1,641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VNO. Danske Bank A S purchased a new stake in Vornado Realty Trust in the third quarter worth about $28,000. Farmers & Merchants Investments Inc. boosted its stake in shares of Vornado Realty Trust by 512.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 718 shares during the period. Advisory Services Network LLC bought a new position in shares of Vornado Realty Trust in the third quarter worth about $33,000. Employees Retirement System of Texas bought a new position in shares of Vornado Realty Trust in the fourth quarter worth about $36,000. Finally, BOKF NA boosted its stake in shares of Vornado Realty Trust by 1,257.1% in the third quarter. BOKF NA now owns 1,140 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,056 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler dropped their price objective on Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Morgan Stanley cut their target price on shares of Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings cut shares of Vornado Realty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, Barclays cut their target price 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. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.55.

Vornado Realty Trust Price Performance

NYSE:VNO opened at $36.20 on Tuesday. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.78 and a beta of 1.56. Vornado Realty Trust has a 1 year low of $24.57 and a 1 year high of $43.37. The business has a 50 day simple moving average of $30.07 and a 200-day simple moving average of $31.03. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The company had revenue of $459.11 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. Equities analysts forecast that Vornado Realty Trust will post 2.34 EPS for the current year.

Vornado Realty Trust announced that its board has initiated a stock repurchase plan 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 purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.