Aviva PLC Sells 21,925 Shares of Vornado Realty Trust (NYSE:VNO)

Aviva PLC lessened its stake in Vornado Realty Trust (NYSE:VNO – Get Rating) by 47.6% during the fourth quarter, HoldingsChannel reports. The firm owned 24,115 shares of the real estate investment trust’s stock after selling 21,925 shares during the period. Aviva PLC’s holdings in Vornado Realty Trust were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. National Bank of Canada FI raised its holdings in Vornado Realty Trust by 240,844.7% during the 4th quarter. National Bank of Canada FI now owns 1,354,109 shares of the real estate investment trust’s stock valued at $28,179,000 after acquiring an additional 1,353,547 shares during the period. State Street Corp raised its holdings in Vornado Realty Trust by 10.8% during the 1st quarter. State Street Corp now owns 13,527,974 shares of the real estate investment trust’s stock valued at $613,088,000 after acquiring an additional 1,319,443 shares during the period. First Pacific Advisors LP bought a new stake in Vornado Realty Trust during the 3rd quarter valued at $23,168,000. Price T Rowe Associates Inc. MD raised its holdings in Vornado Realty Trust by 22.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,868,704 shares of the real estate investment trust’s stock valued at $139,196,000 after acquiring an additional 891,435 shares during the period. Finally, Bank of Montreal Can raised its holdings in Vornado Realty Trust by 155.7% during the 4th quarter. Bank of Montreal Can now owns 1,451,227 shares of the real estate investment trust’s stock valued at $30,839,000 after acquiring an additional 883,758 shares during the period. Institutional investors own 75.97% of the company’s stock.

Vornado Realty Trust Price Performance

Shares of NYSE:VNO opened at $13.13 on Monday. The company has a quick ratio of 4.75, a current ratio of 4.75 and a debt-to-equity ratio of 1.74. Vornado Realty Trust has a 12-month low of $12.31 and a 12-month high of $35.65. The stock’s 50-day moving average price is $14.56 and its 200-day moving average price is $19.68.

Vornado Realty Trust (NYSE:VNO – Get Rating) last posted its earnings results on Monday, May 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.61). The business had revenue of $445.92 million during the quarter, compared to the consensus estimate of $452.70 million. Vornado Realty Trust had a positive return on equity of 2.51% and a negative net margin of 20.39%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. Sell-side analysts expect that Vornado Realty Trust will post 2.5 EPS for the current year.

Vornado Realty Trust announced that its Board of Directors has approved a stock buyback program on Wednesday, April 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Russell B. Wight, Jr. acquired 16,000 shares of the stock in a transaction on Thursday, May 11th. The stock was acquired at an average cost of $11.21 per share, for a total transaction of $179,360.00. Following the completion of the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $78,470. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.03% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VNO shares. The Goldman Sachs Group started coverage on shares of Vornado Realty Trust in a report on Tuesday, March 21st. They set a “sell” rating and a $12.00 target price on the stock. StockNews.com assumed coverage on shares of Vornado Realty Trust in a report on Thursday. They set a “sell” rating on the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Vornado Realty Trust in a report on Thursday, April 13th. TheStreet cut shares of Vornado Realty Trust from a “c-” rating to a “d+” rating in a report on Wednesday, February 15th. Finally, Piper Sandler cut shares of Vornado Realty Trust from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $16.00 to $11.00 in a report on Wednesday, April 26th. Six analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.00.

Vornado Realty Trust Profile

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Vornado Realty Trust is a real estate investment trust, which engages in the ownership of office, retail, merchandise mart properties, and other real estate and related investments. It operates through the New York and Other segments. The company was founded by Steven Roth on March 29, 1993 and is headquartered in New York, NY.