Stocks of Vornado Realty Trust (VNO) are poised to climb above their peers

Vornado Realty Trust (NYSE: VNO) stock fell -0.53% on Monday to $22.47 against a previous-day closing price of $22.59. With 1.42 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.85 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $22.61 whereas the lowest price it dropped to was $22.11. The 52-week range on VNO shows that it touched its highest point at $26.76 and its lowest point at $12.31 during that stretch. It currently has a 1-year price target of $20.42. With its current market cap of 4.28 billion, VNO has annualized dividend of $0.73 while the current yield stands at 3.24%. Beta for the stock currently stands at 1.51.

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 up-trending over the past week, with a rise of 12.63%, but this was up by 10.69% over a month. Three-month performance surged to 6.75% while six-month performance rose 64.25%. The stock lost -6.57% in the past year, while it has gained 7.98% so far this year. A look at the trailing 12-month EPS for VNO yields -2.03 with Next year EPS estimates of 0.14. For the next quarter, that number is 0.04. This implies an EPS growth rate of -18.29% for this year and -73.35% for next year.

Float and Shares Shorts:

At present, 191.87 million VNO shares are outstanding with a float of 165.46 million shares on hand for trading. On Oct 30, 2023, short shares totaled 24.24 million, which was 12.73% higher than short shares on Sep 28, 2023. In addition to Mr. Steven Roth as the firm’s Chairman of the Board & CEO, Mr. Michael J. Franco serves as its President & CFO.

Institutional Ownership:

Through their ownership of 86.41% of VNO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.57% of VNO, in contrast to 37.57% held by mutual funds. Shares owned by individuals account for 10.45%. As the largest shareholder in VNO with 12.63% of the stake, The Vanguard Group, Inc. holds 24,067,693 shares worth 24,067,693. 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 15,856,275 shares or 8.32% 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 3.53% of VNO stock, is the second-largest Mutual Fund holder. It holds 6,722,174 shares valued at 129.07 million. Putnam Large Cap Value Fund holds 3.08% of the stake in VNO, owning 5,858,296 shares worth 112.48 million.

Analysts Ratings:

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 $20.09. Based on these targets, VNO could surge 20.16% to reach the target high and fall by -46.6% to reach the target low. Reaching the average price target will result in a decline of -10.59% from current levels.

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.