BROOKFIELD Corp ON Acquires 249,296 Shares of Vornado Realty Trust $VNO

BROOKFIELD Corp ON boosted its holdings in shares of Vornado Realty Trust (NYSE:VNO) by 50,980.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,785 shares of the real estate investment trust’s stock after acquiring an additional 249,296 shares during the quarter. BROOKFIELD Corp ON owned 0.13% of Vornado Realty Trust worth $6,492,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Vornado Realty Trust during the fourth quarter valued at $579,709,000. Price T Rowe Associates Inc. MD grew its stake in shares of Vornado Realty Trust by 21.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust’s stock worth $301,300,000 after purchasing an additional 1,598,643 shares during the last quarter. Resolution Capital Ltd bought a new stake in shares of Vornado Realty Trust in the second quarter worth $49,565,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Vornado Realty Trust by 393,598.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,051,175 shares of the real estate investment trust’s stock worth $34,983,000 after purchasing an additional 1,050,908 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Vornado Realty Trust by 129.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust’s stock valued at $36,344,000 after purchasing an additional 788,067 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VNO has been the topic of several recent research reports. BMO Capital Markets lifted their target price on Vornado Realty Trust from $33.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. LADENBURG THALM/SH SH increased their price target on Vornado Realty Trust from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings upgraded Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 9th. Morgan Stanley lowered Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 price objective on the stock. in a research note on Wednesday. Finally, Truist Financial upped their target price on Vornado Realty Trust from $28.00 to $39.00 and gave the company a “hold” rating in a report on Friday, June 26th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.17.

Insider Activity

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. bought 4,000 shares of the stock in a transaction on Monday, June 8th. The stock was acquired at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the completion of the acquisition, the director owned 13,000 shares in the company, valued at $220,220. This trade represents a 44.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael D. Fascitelli sold 133,350 shares of Vornado Realty Trust stock in a transaction that occurred on Wednesday, June 17th. The stock was 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 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 SEC filing for this sale provides additional information. 9.00% of the stock is owned by corporate insiders.

Vornado Realty Trust Price Performance

VNO stock opened at $39.76 on Monday. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 1.54. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 2.00 and a beta of 1.53. The company’s fifty day simple moving average is $37.07 and its 200 day simple moving average is $32.06. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $43.37.

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, analysts expect that Vornado Realty Trust will post 2.34 earnings per share for the current year.

Vornado Realty Trust declared that its board has initiated a share buyback plan on Wednesday, April 29th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership 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.