Vornado Realty Trust $VNO Holdings Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Vornado Realty Trust (NYSE:VNO) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,895,193 shares of the real estate investment trust’s stock after selling 149,515 shares during the quarter. Principal Financial Group Inc. owned 3.13% of Vornado Realty Trust worth $153,216,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of VNO. Louisiana State Employees Retirement System purchased a new position in Vornado Realty Trust during the 1st quarter valued at about $1,206,000. Legal & General Group Plc lifted its position in shares of Vornado Realty Trust by 9.1% in the fourth quarter. Legal & General Group Plc now owns 1,789,601 shares of the real estate investment trust’s stock worth $59,558,000 after purchasing an additional 149,598 shares in the last quarter. Pacific Heights Asset Management LLC boosted its holdings in shares of 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 worth $11,648,000 after purchasing an additional 150,000 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Vornado Realty Trust by 24,536.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 62,824 shares of the real estate investment trust’s stock worth $2,091,000 after purchasing an additional 62,569 shares during the period. Finally, Private Management Group Inc. grew its position in Vornado Realty Trust by 24.2% during the fourth quarter. Private Management Group Inc. now owns 959,086 shares of the real estate investment trust’s stock valued at $31,918,000 after purchasing an additional 186,734 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Insider Activity

In related news, Director Russell B. Wight, Jr. purchased 4,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was bought at an average price of $16.94 per share, for a total transaction of $67,760.00. Following the purchase, the director owned 13,000 shares in the company, valued at $220,220. The trade was a 44.44% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael D. Fascitelli sold 133,350 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total value of $4,883,277.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. 9.00% of the stock is owned by company insiders.

Vornado Realty Trust Stock Performance

Shares of VNO opened at $39.12 on Wednesday. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.93 and a beta of 1.53. The company’s fifty day moving average is $35.72 and its 200-day moving average is $31.71. The company has a quick ratio of 6.14, a current 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.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The business had revenue of $459.11 million during the quarter, compared to analyst estimates of $431.71 million. Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. Equities analysts expect that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

Vornado Realty Trust declared that its Board of Directors has authorized a share buyback plan 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 purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VNO shares. BMO Capital Markets upped their price objective on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Piper Sandler decreased their target price 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. 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. LADENBURG THALM/SH SH upped their price target on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Truist Financial increased their price objective on Vornado Realty Trust from $28.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Vornado Realty Trust has an average rating of “Hold” and an average price target of $36.33.

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.