Commerce Bank Takes $258,000 Position in Vornado Realty Trust (NYSE:VNO)

Posted by on May 28th, 2023

Commerce Bank acquired a new stake in Vornado Realty Trust (NYSE:VNO – Get Rating) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,388 shares of the real estate investment trust’s stock, valued at approximately $258,000.

Several other hedge funds also recently modified their holdings of VNO. Belpointe Asset Management LLC bought a new stake in shares of Vornado Realty Trust in the 4th quarter valued at $30,000. U.S. Capital Wealth Advisors LLC acquired a new stake in Vornado Realty Trust in the 4th quarter valued at $42,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Vornado Realty Trust in the 4th quarter valued at $52,000. Parkside Financial Bank & Trust grew its position in Vornado Realty Trust by 170.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,277 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 804 shares during the period. Finally, Signaturefd LLC grew its position in Vornado Realty Trust by 152.1% in the 4th quarter. Signaturefd LLC now owns 2,897 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 1,748 shares during the period. Institutional investors own 75.97% of the company’s stock.

Insider Buying and Selling

In other news, Director Russell B. Wight, Jr. acquired 16,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average cost of $11.21 per share, for a total transaction of $179,360.00. Following the purchase, the director now owns 7,000 shares of the company’s stock, valued at approximately $78,470. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have purchased 20,000 shares of company stock valued at $224,680. 8.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VNO. Morgan Stanley reduced their price target on shares of Vornado Realty Trust from $18.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, March 31st. The Goldman Sachs Group began coverage on shares of Vornado Realty Trust in a research report on Tuesday, March 21st. They issued a “sell” rating and a $12.00 price target for the company. BMO Capital Markets downgraded shares of Vornado Realty Trust from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $26.00 to $18.00 in a research report on Friday, March 3rd. Evercore ISI reduced their price target on shares of Vornado Realty Trust from $23.00 to $22.00 in a research report on Monday, March 27th. Finally, StockNews.com started coverage on shares of Vornado Realty Trust in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.00.

Vornado Realty Trust Stock Up 1.5 %

Shares of NYSE:VNO opened at $13.33 on Friday. The company’s 50-day moving average is $14.33 and its 200 day moving average is $19.37. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.75 and a quick ratio of 4.75. Vornado Realty Trust has a fifty-two week low of $12.31 and a fifty-two week high of $35.65.

Vornado Realty Trust (NYSE:VNO – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.61). The company had revenue of $445.92 million during the quarter, compared to analysts’ expectations of $452.70 million. Vornado Realty Trust had a positive return on equity of 2.51% and a negative net margin of 20.39%. Vornado Realty Trust’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. Equities analysts forecast that Vornado Realty Trust will post 2.5 EPS for the current fiscal year.

Vornado Realty Trust announced that its Board of Directors has initiated a share buyback plan on Wednesday, April 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

About Vornado Realty Trust

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Vornado Realty Trust is a real estate investment trust, which engages in the ownership of office, retail, merchandise mart properties, and other real estate and related investments. It operates through the New York and Other segments. The company was founded by Steven Roth on March 29, 1993 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Vornado Realty Trust (NYSE:VNO)

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