Y Intercept Hong Kong Ltd Buys 20,839 Shares of Vornado Realty Trust $VNO

Y Intercept Hong Kong Ltd boosted its stake in shares of Vornado Realty Trust (NYSE:VNO) by 111.5% in the first quarter, Holdings Channel reports. The firm owned 39,530 shares of the real estate investment trust’s stock after acquiring an additional 20,839 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Vornado Realty Trust were worth $1,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VNO. Norges Bank bought a new position in shares of Vornado Realty Trust in the fourth quarter valued at approximately $579,709,000. Franklin Resources Inc. boosted its holdings in shares of Vornado Realty Trust by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 12,504,170 shares of the real estate investment trust’s stock worth $416,139,000 after buying an additional 195,111 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings 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 worth $301,300,000 after buying an additional 1,598,643 shares during the period. State Street Corp grew its stake in Vornado Realty Trust by 0.5% in the 2nd quarter. State Street Corp now owns 8,833,034 shares of the real estate investment trust’s stock valued at $337,775,000 after buying an additional 39,767 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Vornado Realty Trust by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 6,044,708 shares of the real estate investment trust’s stock valued at $201,168,000 after buying an additional 243,905 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Insider Activity

In related news, Director Russell B. Wight, Jr. purchased 4,000 shares of Vornado Realty Trust stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average cost of $16.94 per share, with a total value of $67,760.00. Following the completion of the transaction, the director owned 13,000 shares of the company’s stock, valued at approximately $220,220. This trade represents a 44.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Fascitelli sold 133,350 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were 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 owned 475,161 shares of the company’s stock, valued at approximately $17,400,395.82. This represents a 21.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 9.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on VNO shares. Morgan Stanley cut their target price on shares of Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings upgraded Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Citigroup increased their price target on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, May 8th. LADENBURG THALM/SH SH upped their target price on Vornado Realty Trust from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, Piper Sandler dropped their price objective on shares of Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.33.

Vornado Realty Trust Trading Up 0.7%

Shares of Vornado Realty Trust stock traded up $0.28 during trading on Friday, hitting $38.37. 1,085,735 shares of the company were exchanged, compared to its average volume of 1,579,701. The firm has a market capitalization of $7.22 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.53. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $43.37. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14. The firm’s fifty day moving average price is $35.37 and its 200 day moving average price is $31.65.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results 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 return on equity of 15.82% and a net margin of 43.99%.The business had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.71 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.

Vornado Realty Trust declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 29th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

About Vornado Realty Trust

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.