First Trust Advisors LP Increases Holdings in Vornado Realty Trust (NYSE:VNO)

Posted by Defense World Staff on Jun 1st, 2023

First Trust Advisors LP grew its holdings in Vornado Realty Trust (NYSE:VNO – Get Rating) by 23.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,947 shares of the real estate investment trust’s stock after acquiring an additional 29,218 shares during the period. First Trust Advisors LP owned about 0.08% of Vornado Realty Trust worth $3,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Vornado Realty Trust by 1.0% in the third quarter. Vanguard Group Inc. now owns 27,358,232 shares of the real estate investment trust’s stock worth $633,617,000 after buying an additional 282,152 shares in the last quarter. BlackRock Inc. lifted its position in shares of Vornado Realty Trust by 3.3% in the third quarter. BlackRock Inc. now owns 16,910,236 shares of the real estate investment trust’s stock worth $391,641,000 after buying an additional 540,856 shares in the last quarter. State Street Corp lifted its position in shares of Vornado Realty Trust by 5.6% in the third quarter. State Street Corp now owns 14,749,324 shares of the real estate investment trust’s stock worth $341,594,000 after buying an additional 776,978 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Vornado Realty Trust by 22.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,868,704 shares of the real estate investment trust’s stock worth $139,196,000 after buying an additional 891,435 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Vornado Realty Trust by 6.4% in the third quarter. Bank of New York Mellon Corp now owns 2,233,871 shares of the real estate investment trust’s stock worth $51,736,000 after buying an additional 134,092 shares in the last quarter. 75.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BMO Capital Markets downgraded Vornado Realty Trust from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $26.00 to $18.00 in a research report on Friday, March 3rd. StockNews.com began coverage on Vornado Realty Trust in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Morgan Stanley decreased their price objective on Vornado Realty Trust from $18.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, March 31st. TheStreet cut Vornado Realty Trust from a “c-” rating to a “d+” rating in a research note on Wednesday, February 15th. Finally, Piper Sandler cut Vornado Realty Trust from a “neutral” rating to an “underweight” rating and cut their target price for the company from $16.00 to $11.00 in a research note on Wednesday, April 26th. Six analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Vornado Realty Trust presently has an average rating of “Hold” and a consensus target price of $18.00.

Vornado Realty Trust Stock Down 1.3 %

Vornado Realty Trust stock opened at $13.56 on Thursday. The business has a fifty day moving average of $14.28 and a two-hundred day moving average of $19.14. The company has a quick ratio of 4.75, a current ratio of 4.75 and a debt-to-equity ratio of 1.74. The firm has a market cap of $2.60 billion, a P/E ratio of -6.05, a P/E/G ratio of 1.66 and a beta of 1.37. Vornado Realty Trust has a twelve month low of $12.31 and a twelve month high of $35.27.

Vornado Realty Trust (NYSE:VNO – Get Rating) last posted 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). Vornado Realty Trust had a positive return on equity of 2.51% and a negative net margin of 20.39%. The company had revenue of $445.92 million for the quarter, compared to analysts’ expectations of $452.70 million. During the same quarter in the prior year, the company earned $0.79 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts forecast that Vornado Realty Trust will post 2.5 earnings per share for the current fiscal year.

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

Insider Activity

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. acquired 5,341 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was purchased at an average price of $11.30 per share, for a total transaction of $60,353.30. Following the acquisition, the director now owns 12,000 shares in the company, valued at approximately $135,600. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Russell B. Wight, Jr. bought 16,000 shares of Vornado Realty Trust stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average price of $11.21 per share, for a total transaction of $179,360.00. Following the purchase, the director now directly 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 at this hyperlink. Also, Director Russell B. Wight, Jr. bought 5,341 shares of Vornado Realty Trust stock in a transaction that occurred on Thursday, May 25th. The stock was purchased at an average price of $11.30 per share, with a total value of $60,353.30. Following the purchase, the director now directly owns 12,000 shares in the company, valued at $135,600. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 25,341 shares of company stock worth $285,033. Insiders own 8.03% of the company’s stock.

Vornado Realty Trust Company Profile

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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.