Vornado Realty Trust (NYSE: VNO) stock fell -1.07% on Monday to $24.91 against a previous-day closing price of $25.18. With 2.66 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.3 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $25.15 whereas the lowest price it dropped to was $24.61. The 52-week range on VNO shows that it touched its highest point at $26.93 and its lowest point at $12.31 during that stretch. It currently has a 1-year price target of $18.70. Beta for the stock currently stands at 1.44.
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 -0.76%, but this was up by 18.79% over a month. Three-month performance surged to 58.06% while six-month performance rose 75.42%. The stock lost -5.25% in the past year, while it has gained 19.70% so far this year. A look at the trailing 12-month EPS for VNO yields -2.27 with Next year EPS estimates of -0.06. For the next quarter, that number is 0.11. This implies an EPS growth rate of -505.10% for this year and -125.00% 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 -31.50%.
Float and Shares Shorts:
At present, 191.47 million VNO shares are outstanding with a float of 175.26 million shares on hand for trading. On Aug 30, 2023, short shares totaled 21.73 million, which was 11.41% higher than short shares on Jul 30, 2023. In addition to Mr. Steven Roth as the firm’s Chairman & CEO, Mr. Michael J. Franco serves as its Pres & CFO.
Through their ownership of 86.41% of VNO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.45% of VNO, in contrast to 33.39% held by mutual funds. Shares owned by individuals account for 10.45%. As the largest shareholder in VNO with 12.57% of the stake, The Vanguard Group, Inc. holds 23,954,879 shares worth 23,954,879. A second-largest stockholder of VNO, Norges Bank Investment Management, holds 18,082,373 shares, controlling over 9.49% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in VNO, holding 15,727,772 shares or 8.25% stake. With a 9.47% 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 3.58% of VNO stock, is the second-largest Mutual Fund holder. It holds 6,812,429 shares valued at 163.63 million. Putnam Large Cap Value Fund holds 3.08% of the stake in VNO, owning 5,858,296 shares worth 140.72 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, VNO reported revenue of $453.49M and operating income of $80.62M. The EBITDA in the recently reported quarter was $225.63M and diluted EPS was $0.26.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VNO since 0 analysts follow the stock currently. 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 $27.00 and a low target of $12.00, the average target price over the next 12 months is $19.50. Based on these targets, VNO could surge 8.39% to reach the target high and fall by -51.83% to reach the target low. Reaching the average price target will result in a decline of -21.72% 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.
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 remained unmoved to 0 over the past year. The total number of shares bought during that period was 9,095 while 0 shares were sold.