Kentucky Retirement Systems Invests $373,000 in Vornado Realty Trust $VNO

Kentucky Retirement Systems purchased a new stake in shares of Vornado Realty Trust (NYSE:VNO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,362 shares of the real estate investment trust’s stock, valued at approximately $373,000.

Several other hedge funds have also added to or reduced their stakes in the company. Lodge Hill Capital LLC acquired a new stake in Vornado Realty Trust in the first quarter worth about $11,046,000. Amundi lifted its position in Vornado Realty Trust by 8.2% during the 1st quarter. Amundi now owns 101,893 shares of the real estate investment trust’s stock valued at $2,648,000 after purchasing an additional 7,709 shares during the period. Adelante Capital Management LLC lifted its position in Vornado Realty Trust by 23.2% during the 1st quarter. Adelante Capital Management LLC now owns 798,184 shares of the real estate investment trust’s stock valued at $20,744,000 after purchasing an additional 150,327 shares during the period. EverSource Wealth Advisors LLC lifted its position in Vornado Realty Trust by 63.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,951 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 1,150 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Vornado Realty Trust by 24.7% in the 1st quarter. California State Teachers Retirement System now owns 193,244 shares of the real estate investment trust’s stock valued at $5,022,000 after purchasing an additional 38,289 shares during the last quarter. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Price Performance

Shares of VNO opened at $39.39 on Friday. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. Vornado Realty Trust has a 1 year low of $24.57 and a 1 year high of $43.37. The stock has a market cap of $7.41 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 2.02 and a beta of 1.53. The stock’s 50-day moving average price is $37.92 and its two-hundred day moving average price is $32.28.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results 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 for the quarter, compared to analyst estimates of $431.71 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.Vornado Realty Trust’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts predict that Vornado Realty Trust will post 2.34 earnings per share for the current year.

Vornado Realty Trust announced that its board has approved a share buyback plan on Wednesday, April 29th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Vornado Realty Trust

In other news, Director Russell B. Wight, Jr. bought 4,000 shares of the stock in a transaction on Monday, June 8th. The stock was purchased at an average price of $16.94 per share, with a total value of $67,760.00. Following the completion of the purchase, the director owned 13,000 shares of the company’s stock, valued at approximately $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 SEC, which is available at the SEC website. Also, Director Michael D. Fascitelli sold 133,350 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the completion of the sale, the director owned 475,161 shares in the company, valued at approximately $17,400,395.82. This trade represents a 21.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VNO shares. Scotiabank lifted their price target on shares of Vornado Realty Trust from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. increased their price objective on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Morgan Stanley cut shares of 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, July 22nd. BMO Capital Markets lifted their target price on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Finally, Citigroup upped their target price on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.17.

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.