Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $3.13 Million Stake in Vornado Realty Trust $VNO

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Vornado Realty Trust (NYSE:VNO) by 22.5% in the first quarter, Holdings Channel reports. The fund owned 120,319 shares of the real estate investment trust’s stock after purchasing an additional 22,092 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Vornado Realty Trust were worth $3,127,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Danske Bank A S acquired a new position in shares of Vornado Realty Trust during the third quarter worth $28,000. Farmers & Merchants Investments Inc. increased its holdings in Vornado Realty Trust by 512.9% in 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 in the last quarter. Advisory Services Network LLC acquired a new position in Vornado Realty Trust in the 3rd quarter worth about $33,000. Employees Retirement System of Texas bought a new position in Vornado Realty Trust in the fourth quarter valued at about $36,000. Finally, Inspire Investing LLC acquired a new stake in shares of Vornado Realty Trust during the fourth quarter valued at about $38,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VNO has been the subject of several recent research reports. Truist Financial upped their price objective on Vornado Realty Trust from $28.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Morgan Stanley reduced their target price on shares of Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. LADENBURG THALM/SH SH upped their price target on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Citigroup lifted their price target on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.33.

Insider Activity

In other news, Director Russell B. Wight, Jr. purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average cost of $16.94 per share, with a total value of $67,760.00. Following the purchase, the director owned 13,000 shares in the company, valued at $220,220. This represents a 44.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Fascitelli sold 133,350 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total value of $4,883,277.00. Following the completion of the sale, the director directly owned 475,161 shares of the company’s stock, valued at $17,400,395.82. This trade represents a 21.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 9.00% of the stock is owned by corporate insiders.

Vornado Realty Trust Trading Up 1.8%

VNO opened at $39.85 on Thursday. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $43.37. The company has a fifty day moving average of $35.89 and a 200-day moving average of $31.76. The stock has a market cap of $7.50 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 1.97 and a beta of 1.53. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 1.54.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly 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). 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 $431.71 million. During the same quarter in the previous year, the business posted $0.63 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts predict that Vornado Realty Trust will post 2.34 EPS for the current year.

Vornado Realty Trust declared that its board has authorized a share repurchase plan on Wednesday, April 29th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management 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.