Fmr LLC lessened its stake in Vornado Realty Trust (NYSE:VNO) by 72.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,459 shares of the real estate investment trust’s stock after selling 313,640 shares during the quarter. Fmr LLC owned 0.06% of Vornado Realty Trust worth $8,757,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Linscomb & Williams Inc. acquired a new position in shares of Vornado Realty Trust in the 2nd quarter valued at about $211,000. Fieldpoint Private Securities LLC lifted its holdings in shares of Vornado Realty Trust by 95.5% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 3,225 shares of the real estate investment trust’s stock valued at $238,000 after buying an additional 1,575 shares during the period. Northstar Group Inc. acquired a new position in shares of Vornado Realty Trust in the 2nd quarter valued at about $303,000. American Investment Services Inc. acquired a new position in shares of Vornado Realty Trust in the 2nd quarter valued at about $307,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Vornado Realty Trust in the 2nd quarter valued at about $325,000. 79.08% of the stock is owned by institutional investors and hedge funds.
Shares of Vornado Realty Trust stock opened at $71.52 on Tuesday. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 2.41. Vornado Realty Trust has a twelve month low of $64.13 and a twelve month high of $80.30. The stock has a market capitalization of $13.89 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 8.75 and a beta of 0.91.
Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.03). Vornado Realty Trust had a net margin of 6.91% and a return on equity of 5.16%. The business had revenue of $541.80 million during the quarter, compared to analysts’ expectations of $539.78 million. During the same quarter in the prior year, the firm earned $1.25 EPS. Vornado Realty Trust’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts forecast that Vornado Realty Trust will post 3.88 earnings per share for the current fiscal year.
Several brokerages recently weighed in on VNO. ValuEngine lowered Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Zacks Investment Research upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Monday, October 1st. SunTrust Banks restated a “buy” rating and issued a $85.00 price target on shares of Vornado Realty Trust in a research note on Thursday, August 16th. BMO Capital Markets restated a “buy” rating and issued a $85.00 price target on shares of Vornado Realty Trust in a research note on Monday, July 30th. Finally, Argus lifted their price target on Vornado Realty Trust from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, July 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $79.78.
About Vornado Realty Trust
Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2017.
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