Gerald Baker Financial Group LLC Acquires New Position in Vornado Realty Trust $VNO

Gerald Baker Financial Group LLC bought a new position in shares of Vornado Realty Trust (NYSE:VNO) during the 1st quarter, HoldingsChannel.com reports. The fund bought 15,043 shares of the real estate investment trust’s stock, valued at approximately $391,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Danske Bank A S purchased a new position in Vornado Realty Trust in the 3rd quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new stake in shares of Vornado Realty Trust during the third quarter worth $33,000. Farmers & Merchants Investments Inc. increased its position in shares of Vornado Realty Trust by 512.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 718 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of Vornado Realty Trust in the fourth quarter valued at $36,000. Finally, BOKF NA raised its stake in shares of Vornado Realty Trust by 1,257.1% in the third quarter. BOKF NA now owns 1,140 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,056 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Trading Up 2.4%

Shares of Vornado Realty Trust stock opened at $40.82 on Friday. The company has a fifty day simple moving average of $36.06 and a 200-day simple moving average of $31.81. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $43.37. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 2.00 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) EPS 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 company had revenue of $459.11 million for the quarter, compared to analyst estimates of $431.71 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. Vornado Realty Trust’s revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

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

Insider Activity

In other Vornado Realty Trust news, Director Michael D. Fascitelli sold 133,350 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the transaction, the director owned 475,161 shares of the company’s stock, valued at approximately $17,400,395.82. This trade represents a 21.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Russell B. Wight, Jr. bought 4,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were purchased at an average price of $16.94 per share, for a total transaction of $67,760.00. Following the transaction, the director directly owned 13,000 shares of the company’s stock, valued at approximately $220,220. This represents a 44.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 9.00% of the company’s stock.

Wall Street Analyst Weigh In

VNO has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Vornado Realty Trust from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Piper Sandler reduced their target price on shares of Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Truist Financial lifted their price target on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Scotiabank boosted their price target on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Finally, Weiss Ratings upgraded shares of Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $36.33.

Vornado Realty Trust Company 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.