Legal & General Group Plc Purchases 149,598 Shares of Vornado Realty Trust $VNO

Legal & General Group Plc lifted its position in shares of Vornado Realty Trust (NYSE:VNO) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,789,601 shares of the real estate investment trust’s stock after purchasing an additional 149,598 shares during the quarter. Legal & General Group Plc’s holdings in Vornado Realty Trust were worth $59,558,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in Vornado Realty Trust by 18.3% during the first quarter. Royal Bank of Canada now owns 27,507 shares of the real estate investment trust’s stock valued at $1,017,000 after buying an additional 4,251 shares during the last quarter. AQR Capital Management LLC raised its stake in Vornado Realty Trust by 18.7% during the first quarter. AQR Capital Management LLC now owns 51,939 shares of the real estate investment trust’s stock valued at $1,903,000 after buying an additional 8,189 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Vornado Realty Trust by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust’s stock valued at $22,705,000 after buying an additional 112,956 shares during the last quarter. Marshall Wace LLP purchased a new position in Vornado Realty Trust during the second quarter valued at $763,000. Finally, California Public Employees Retirement System raised its stake in Vornado Realty Trust by 9.6% during the second quarter. California Public Employees Retirement System now owns 365,237 shares of the real estate investment trust’s stock valued at $13,967,000 after buying an additional 32,028 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Stock Down 0.3%

VNO stock opened at $33.75 on Friday. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $43.37. The business has a fifty day moving average price of $29.02 and a 200-day moving average price of $31.06. 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 stock has a market capitalization of $6.35 billion, a P/E ratio of 9.27, a P/E/G ratio of 1.71 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $431.72 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts forecast that Vornado Realty Trust will post 2.33 earnings per share for the current fiscal year.

Vornado Realty Trust declared that its board has authorized a stock buyback program 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 buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VNO shares. Weiss Ratings cut Vornado Realty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Barclays lowered their price objective on Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Truist Financial lowered their price objective on Vornado Realty Trust from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Morgan Stanley lowered their price objective on Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Finally, Citigroup lifted their price objective on Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Three 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’s stock. According to data from MarketBeat.com, Vornado Realty Trust has an average rating of “Hold” and an average price target of $34.55.

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.