Vornado Realty Trust (NYSE:VNO) Issues Earnings Results

Vornado Realty Trust (NYSE:VNO) released its quarterly earnings data on Monday. The real estate investment trust reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.12, FiscalAI reports. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The company had revenue of $462.24 million for the quarter, compared to the consensus estimate of $454.46 million.

Vornado Realty Trust Price Performance

VNO traded up $0.64 during trading on Monday, hitting $40.03. The company’s stock had a trading volume of 1,457,660 shares, compared to its average volume of 1,919,414. The firm’s 50 day moving average price is $37.92 and its two-hundred day moving average price is $32.27. 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 has a 12 month low of $24.57 and a 12 month high of $43.37. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.98 and a beta of 1.53.

Analyst Upgrades and Downgrades

VNO has been the subject of several analyst reports. Mizuho raised their target price on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. BMO Capital Markets upped their price target on Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Truist Financial lifted their price objective on Vornado Realty Trust from $28.00 to $39.00 and gave the company a “hold” rating in a report on Friday, June 26th. UBS Group downgraded shares of Vornado Realty Trust to an “underweight” rating in a research note on Wednesday, July 22nd. Finally, Morgan Stanley lowered shares of Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 target price on the stock. in a report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Vornado Realty Trust has an average rating of “Hold” and an average target price of $39.17.

Insiders Place Their Bets

In related news, Director Michael D. Fascitelli sold 133,350 shares of Vornado Realty Trust stock in a transaction dated 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 transaction, the director directly owned 475,161 shares of the company’s stock, valued at $17,400,395.82. The trade was a 21.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Russell B. Wight, Jr. purchased 4,000 shares of Vornado Realty Trust stock in a transaction that occurred on Monday, June 8th. The shares were bought at an average price of $16.94 per share, for a total transaction of $67,760.00. Following the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. 9.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vornado Realty Trust

A number of institutional investors have recently modified their holdings of VNO. Price T Rowe Associates Inc. MD raised its position in shares of Vornado Realty Trust by 21.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust’s stock valued at $301,300,000 after acquiring an additional 1,598,643 shares during the last quarter. Resolution Capital Ltd bought a new position in shares of Vornado Realty Trust in the 2nd 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% during 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 period. Schonfeld Strategic Advisors LLC grew its stake in shares of Vornado Realty Trust by 4,243.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 676,278 shares of the real estate investment trust’s stock worth $22,507,000 after purchasing an additional 660,707 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Vornado Realty Trust by 323.9% during the fourth quarter. AQR Capital Management LLC now owns 668,904 shares of the real estate investment trust’s stock worth $22,261,000 after purchasing an additional 511,091 shares during the period. 90.02% of the stock is owned by institutional investors.

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

Vornado Realty Trust Company 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.