Mitsubishi UFJ Trust & Banking Corp Sells 91,399 Shares of Vornado Realty Trust (NYSE:VNO)

Posted by Defense World Staff on Jun 1st, 2023

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Vornado Realty Trust (NYSE:VNO – Get Rating) by 95.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,900 shares of the real estate investment trust’s stock after selling 91,399 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Vornado Realty Trust were worth $81,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Belpointe Asset Management LLC acquired a new stake in Vornado Realty Trust in the 4th quarter worth $30,000. U.S. Capital Wealth Advisors LLC bought a new position in Vornado Realty Trust during the fourth quarter valued at about $42,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Vornado Realty Trust in the 4th quarter valued at approximately $52,000. Parkside Financial Bank & Trust lifted its position in shares of 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 worth $58,000 after acquiring an additional 804 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of Vornado Realty Trust by 152.1% during the 4th quarter. Signaturefd LLC now owns 2,897 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 1,748 shares in the last quarter. 75.97% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Stock Performance

VNO stock opened at $13.56 on Thursday. The company has a 50 day moving average price of $14.28 and a 200 day moving average price of $19.14. Vornado Realty Trust has a fifty-two week low of $12.31 and a fifty-two week high of $35.27. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.75 and a quick ratio of 4.75. The stock has a market capitalization of $2.60 billion, a PE ratio of -6.05, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37.

Vornado Realty Trust (NYSE:VNO – Get Rating) last released its 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 firm had revenue of $445.92 million for the quarter, compared to the consensus estimate of $452.70 million. Vornado Realty Trust had a positive return on equity of 2.51% and a negative net margin of 20.39%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. Analysts forecast that Vornado Realty Trust will post 2.5 EPS for the current year.

Vornado Realty Trust announced that its Board of Directors has approved a stock buyback program on Wednesday, April 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to buy up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler cut Vornado Realty Trust from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $16.00 to $11.00 in a research report on Wednesday, April 26th. Evercore ISI lowered their target price on shares of Vornado Realty Trust from $23.00 to $22.00 in a research note on Monday, March 27th. TheStreet cut shares of Vornado Realty Trust from a “c-” rating to a “d+” rating in a research note on Wednesday, February 15th. Scotiabank reiterated a “sector perform” rating on shares of Vornado Realty Trust in a research note on Thursday, April 13th. Finally, Truist Financial cut their target price on Vornado Realty Trust from $27.00 to $22.00 in a research report on Monday, March 20th. Six analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.00.

Insiders Place Their Bets

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. bought 5,341 shares of Vornado Realty Trust stock in a transaction dated Thursday, May 25th. The shares were bought at an average price of $11.30 per share, with a total value of $60,353.30. Following the purchase, the director now owns 12,000 shares of the company’s stock, valued at $135,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Russell B. Wight, Jr. bought 16,000 shares of Vornado Realty Trust stock in a transaction on Thursday, May 11th. The shares were purchased at an average price of $11.21 per share, for a total transaction of $179,360.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at $78,470. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Russell B. Wight, Jr. bought 5,341 shares of the stock in a transaction on Thursday, May 25th. The stock was purchased at an average cost of $11.30 per share, with a total value of $60,353.30. Following the purchase, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $135,600. The disclosure for this purchase can be found here. In the last three months, insiders bought 25,341 shares of company stock valued at $285,033. 8.03% of the stock is currently owned by insiders.

Vornado Realty Trust Company Profile

(Get Rating)

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.