Look For Institutional Buying In Vornado Realty Trust (NYSE: VNO)

The Vanguard Group, Inc. has recently announced that it has increased stake in Vornado Realty Trust (NYSE:VNO) by 1.04%. After grabbing 26.54 million shares, the institutional investor is now in possession of 0.27 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 13.84% having worth around $626.17 million. Moreover, SSgA Funds Management, Inc. increased its share by 0.78 million to have a control over 14.75 million shares. And BlackRock Fund Advisors raised its holdings to 76160.0 shares by acquiring 10.82 million shares or 5.64% of the stake.

Vornado Realty Trust (VNO) concluded trading on 11/30/22 at a closing price of $25.29, with 12.12 million shares of worth about $306.46 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -25.22% during that period and on Wednesday the price saw a loss of about -0.08%. Currently the company’s common shares owned by public are about 191.79M shares, out of which, 176.21M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 12 analysts are covering the VNO stock and their offered price forecasts bring an average price target of $24.70. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $30.00 and could fall to a lowest price of $18.00. The stock’s current price level is -0.08% below of average price target set by the analysts, while a dip to estimated low would result in loss of -40.5% for the stock. However, touching the estimated high of $30.00 would mean a gain of 15.7% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 2 times over the past 12 months. They bought 5,262 shares in 1 of the transactions. In 1 selling transactions, insiders dumped 119,100 shares.

Government Pension Fund – Global, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Vornado Realty Trust Government Pension Fund – Global is currently holding 18.04 million shares of worth totaling $425.61 million. The company recently came buying 9662.0 shares which brought its stake up to 9.41% of the company’s outstanding shares. Vanguard Real Estate Index Fund sold 28312.0 shares, after which its hold over company’s outstanding shares shrunk to 3.85%, leaving 7.39 million shares with the mutual fund that have a worth of about $174.26 million. Vanguard Total Stock Market Index, after buying 5.19 million shares, have now control over 2.70% of the stake in the company. It holds 14514.0 shares of worth $122.34 million.

Vornado Realty Trust (NYSE: VNO) started trading at $25.19, below -$0.12 from concluding price of the previous day. However, the stock later moved at a day high price of 25.44, or with a loss of -0.08%. Stock saw a price change of 2.43% in past 5 days and over the past one month there was a price change of 7.21%. Year-to-date (YTD), VNO shares are showing a performance of -39.58% which decreased to -37.00% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $20.03 but also hit the highest price of $47.26 during that period. The average intraday trading volume for Vornado Realty Trust shares is 3.04 million. The stock is currently trading 4.88% above its 20-day simple moving average (SMA20), while that difference is up 7.91% for SMA50 and it goes to -21.29% lower than SMA200.

The Vanguard Group, Inc. acquired 26.54 million shares of Vornado Realty Trust having value of about $626.17 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.27 million shares in the company valued at close to $6938463.24, or have control over 1.04% stake in the company. Vornado Realty Trust (NYSE: VNO) currently have 191.79M outstanding shares and institutions hold larger chunk of about 87.40% of that. Holding of mutual funds in the company is about 31.36% while other institutional holders and individual stake holders have control over 50.82% and 10.32% of the stake respectively.

The stock has a current market capitalization of $4.86B and its 3Y-monthly beta is at 1.23. PE ratio of stock for trailing 12 months is 50.68, while it has posted earnings per share of $0.50 in the same period. Its PEG reads 2.92 while making debt-to-equity ratio of 1.60. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for VNO, volatility over the week remained 2.72% while standing at 3.80% over the month.

Analysts are in expectations that Vornado Realty Trust (VNO) stock would likely to be making an EPS of $0.1 in the current quarter, while forecast for next quarter EPS is $0.08 and it is $0.38 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.01 which is $0.2 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.2 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 128.80% while it is estimated to decrease by -13.04% in next year. EPS is likely to grow at an annualized rate of 17.33% for next 5-years, compared to annual growth of -24.90% made by the stock over the past 5-years.

Analysts at 12 brokerage firms have issued recommendations for the Vornado Realty Trust (VNO)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.20. Out of those 12 Wall Street analysts, 1 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.

Coverage by BMO Capital Markets stated Vornado Realty Trust (VNO) stock as a Market perform in their note to investors on May 31, 2022, suggesting a price target of $40 for the stock. On May 04, 2022, Piper Sandler Downgrade their recommendations, while on April 22, 2022, Mizuho Initiated their ratings for the stock with a price target of $38. Stock get a Neutral rating from BofA Securities on September 24, 2021.