Norges Bank Takes $579.71 Million Position in Vornado Realty Trust $VNO

Norges Bank acquired a new stake in shares of Vornado Realty Trust (NYSE:VNO) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 17,419,128 shares of the real estate investment trust’s stock, valued at approximately $579,709,000. Norges Bank owned about 0.09% of Vornado Realty Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Private Management Group Inc. boosted its position 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 valued at $31,303,000 after buying an additional 126,242 shares during the last quarter. Lighthouse Investment Partners LLC boosted its position in Vornado Realty Trust by 20.9% in 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 buying an additional 45,000 shares during the last quarter. Vestcor Inc purchased a new stake in Vornado Realty Trust in the third quarter valued at approximately $4,572,000. Centersquare Investment Management LLC boosted its position in Vornado Realty Trust by 1.4% in 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 buying an additional 42,323 shares during the last quarter. Finally, Pacific Heights Asset Management LLC boosted its position in Vornado Realty Trust by 75.0% in 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 buying an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Trading Up 0.0%

Vornado Realty Trust stock opened at $33.75 on Monday. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37. The stock’s 50 day simple moving average is $29.02 and its two-hundred day simple moving average is $31.02. The firm has a market cap of $6.35 billion, a PE ratio of 9.27, a P/E/G ratio of 1.71 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $431.72 million. During the same quarter in the prior year, the company posted $0.63 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts anticipate that Vornado Realty Trust will post 2.33 earnings per share for the current year.

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

Analysts Set New Price Targets

VNO has been the topic of a number of recent research reports. Piper Sandler dropped their target price on Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Scotiabank upped their target price on Vornado Realty Trust from $32.00 to $33.00 and gave the company a “sector perform” rating in a research report on Thursday, May 21st. Morgan Stanley dropped their target price on Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Mizuho dropped their target price on Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Finally, Truist Financial dropped their target price on Vornado Realty Trust from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday, March 31st. Three 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.55.

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.