Vestcor Inc Has $4.50 Million Position in Vornado Realty Trust $VNO

Vestcor Inc increased its position in Vornado Realty Trust (NYSE:VNO) by 19.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 135,092 shares of the real estate investment trust’s stock after acquiring an additional 22,292 shares during the period. Vestcor Inc’s holdings in Vornado Realty Trust were worth $4,496,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Management Group Inc. increased its holdings in Vornado Realty Trust by 19.5% in the third quarter. Private Management Group Inc. now owns 772,352 shares of the real estate investment trust’s stock worth $31,303,000 after buying an additional 126,242 shares during the last quarter. Lighthouse Investment Partners LLC grew its holdings in Vornado Realty Trust by 20.9% during the third quarter. Lighthouse Investment Partners LLC now owns 260,000 shares of the real estate investment trust’s stock valued at $10,538,000 after purchasing an additional 45,000 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in Vornado Realty Trust by 1.4% during the third quarter. Centersquare Investment Management LLC now owns 3,172,261 shares of the real estate investment trust’s stock valued at $128,572,000 after purchasing an additional 42,323 shares during the last quarter. Pacific Heights Asset Management LLC grew its holdings in Vornado Realty Trust by 75.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 350,000 shares of the real estate investment trust’s stock valued at $11,648,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in Vornado Realty Trust by 14.6% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,650,063 shares of the real estate investment trust’s stock valued at $66,877,000 after purchasing an additional 210,625 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Trading Up 1.0%

Shares of VNO stock opened at $35.26 on Friday. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average is $29.86 and its two-hundred day moving average is $31.02. The company has a market cap of $6.63 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 1.78 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The business had revenue of $459.11 million during the quarter, compared to the consensus estimate of $431.72 million. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Equities analysts predict that Vornado Realty Trust will post 2.34 EPS for the current year.

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

Analyst Upgrades and Downgrades

VNO has been the topic of several analyst reports. Mizuho lowered their price target on Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Citigroup increased their price target on Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Wall Street Zen downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. JPMorgan Chase & Co. increased their price target on Vornado Realty Trust from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Finally, Piper Sandler lowered their price target on Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.55.

Vornado Realty Trust 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.