Prepare Yourself for Liftoff: Vornado Realty Trust (VNO)

Vornado Realty Trust (NYSE: VNO) stock fell -3.68% on Friday to $25.16 against a previous-day closing price of $26.12. With 1.61 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.0 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $26.54 whereas the lowest price it dropped to was $25.16. The 52-week range on VNO shows that it touched its highest point at $47.26 and its lowest point at $25.27 during that stretch. It currently has a 1-year price target of $31.45. With its current market cap of 4.74 billion, VNO has annualized dividend of $2.12 while the current yield stands at 8.43%. Beta for the stock currently stands at 1.26.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VNO was down-trending over the past week, with a drop of -5.02%, but this was down by -8.44% over a month. Three-month performance dropped to -10.46% while six-month performance fell -45.27%. The stock lost -39.36% in the past year, while it has lost -39.89% so far this year. A look at the trailing 12-month EPS for VNO yields 0.66 with Next year EPS estimates of 0.47. For the next quarter, that number is 0.14. This implies an EPS growth rate of 128.80% for this year and 19.74% for next year. EPS is expected to grow by 17.33% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -24.90%.

Float and Shares Shorts:

At present, 191.75 million VNO shares are outstanding with a float of 176.25 million shares on hand for trading. On Jul 14, 2022, short shares totaled 15.13 million, which was 7.89% higher than short shares on Jun 14, 2022. In addition to Mr. Steven Roth as the firm’s Chairman & CEO, Mr. Michael J. Franco serves as its Pres & CFO.


Institutional Ownership:

Through their ownership of 83.61% of VNO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.49% of VNO, in contrast to 26.85% held by mutual funds. Shares owned by individuals account for 10.32%. As the largest shareholder in VNO with 13.70% of the stake, The Vanguard Group, Inc. holds 26,269,621 shares worth 26,269,621. A second-largest stockholder of VNO, Norges Bank Investment Management, holds 18,082,373 shares, controlling over 9.43% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in VNO, holding 13,972,346 shares or 7.29% stake. With a 9.41% stake in VNO, the Government Pension Fund – Global is the largest stakeholder. A total of 18,042,011 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 3.90% of VNO stock, is the second-largest Mutual Fund holder. It holds 7,474,866 shares valued at 195.99 million. Vanguard Total Stock Market Index holds 2.68% of the stake in VNO, owning 5,133,434 shares worth 134.6 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VNO since 14 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 3 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With VNO analysts setting a high price target of $35.00 and a low target of $20.00, the average target price over the next 12 months is $30.45. Based on these targets, VNO could surge 39.11% to reach the target high and fall by -20.51% to reach the target low. Reaching the average price target will result in a growth of 21.03% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. VNO will report FY 2022 earnings on 02/13/2023. Analysts have provided yearly estimates in a range of $0.91 being high and $0.42 being low. For VNO, this leads to a yearly average estimate of $0.73. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Vornado Realty Trust surprised analysts by $0.01 when it reported $0.19 EPS against a consensus estimate of $0.18. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is $0.23 and the low estimate is $0.04. The average estimate for the next quarter is thus $0.14.

Summary of Insider Activity:

Insiders traded VNO stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 5,262 while 259,100 shares were sold.

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