Centersquare Investment Management LLC Has $99.96 Million Stock Holdings in Vornado Realty Trust $VNO

Centersquare Investment Management LLC lessened its holdings in Vornado Realty Trust (NYSE:VNO) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,003,497 shares of the real estate investment trust’s stock after selling 168,764 shares during the quarter. Centersquare Investment Management LLC’s holdings in Vornado Realty Trust were worth $99,956,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in VNO. Danske Bank A S acquired a new position in Vornado Realty Trust in the third quarter worth about $28,000. Farmers & Merchants Investments Inc. grew its stake in Vornado Realty Trust by 512.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 718 shares during the last quarter. Advisory Services Network LLC bought a new stake in Vornado Realty Trust during the third quarter worth about $33,000. Employees Retirement System of Texas bought a new stake in Vornado Realty Trust during the fourth quarter worth about $36,000. Finally, BOKF NA grew its stake in Vornado Realty Trust by 1,257.1% during the third quarter. BOKF NA now owns 1,140 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,056 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Insider Activity at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. purchased 4,000 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the director directly owned 13,000 shares of the company’s stock, valued at $220,220. This trade represents a 44.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.00% of the stock is owned by company insiders.

Vornado Realty Trust Price Performance

VNO opened at $38.92 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 debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14. The company’s 50 day simple moving average is $30.87 and its 200-day simple moving average is $31.13. The stock has a market capitalization of $7.32 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.93 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO) last released 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 net margin of 43.99% and a return on equity of 15.82%. The company had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.72 million. During the same period last year, the company earned $0.63 earnings per share. Vornado Realty Trust’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts anticipate that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Mizuho decreased their price objective on shares of Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Truist Financial decreased their price objective on shares of Vornado Realty Trust from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Barclays decreased their price objective on shares of Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. upped 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. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $34.27.

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.