Vornado Realty Trust $VNO Stock: Sumitomo Mitsui Trust Group Inc. Cuts Position

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Vornado Realty Trust (NYSE:VNO) by 9.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 153,400 shares of the real estate investment trust’s stock after selling 16,834 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Vornado Realty Trust were worth $5,197,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in VNO. Essential Partners LLC lifted its stake in shares of Vornado Realty Trust by 186.9% during the 1st quarter. Essential Partners LLC now owns 1,182 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 770 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Vornado Realty Trust by 67.5% in the second quarter. Parkside Financial Bank & Trust now owns 804 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 324 shares during the last quarter. Root Financial Partners LLC purchased a new position in Vornado Realty Trust in the third quarter valued at about $42,000. Fifth Third Bancorp grew its stake in Vornado Realty Trust by 46.2% in the first quarter. Fifth Third Bancorp now owns 2,446 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 773 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Vornado Realty Trust by 106.1% in the second quarter. Versant Capital Management Inc now owns 1,750 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 901 shares in the last quarter. 90.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on VNO. Piper Sandler decreased their price target on shares of Vornado Realty Trust from $44.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Citigroup lifted their price objective on shares of Vornado Realty Trust from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Mizuho lifted their price objective on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Scotiabank reduced their price objective on shares of Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, September 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of Vornado Realty Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, September 15th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.91.

Insiders Place Their Bets

In other Vornado Realty Trust news, EVP Haim Chera sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $34.01, for a total transaction of $3,060,900.00. Following the sale, the executive vice president owned 110,000 shares of the company’s stock, valued at approximately $3,741,100. The trade was a 45.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.00% of the company’s stock.

Vornado Realty Trust Stock Down 0.0%

Vornado Realty Trust stock traded down $0.00 during midday trading on Friday, reaching $35.87. The company’s stock had a trading volume of 1,332,085 shares, compared to its average volume of 1,370,243. The stock’s 50-day simple moving average is $34.61 and its 200-day simple moving average is $33.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 5.24. Vornado Realty Trust has a 52-week low of $24.57 and a 52-week high of $41.60. The stock has a market capitalization of $6.70 billion, a P/E ratio of -123.68, a PEG ratio of 1.64 and a beta of 1.62.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.89). Vornado Realty Trust had a return on equity of 0.19% and a net margin of 0.50%. The business had revenue of $467.66 million for the quarter, compared to analysts’ expectations of $477.39 million. During the same quarter in the previous year, the firm posted $0.57 EPS. Vornado Realty Trust’s revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts expect that Vornado Realty Trust will post 2.47 EPS for the current year.

About Vornado Realty Trust

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops commercial properties, with a primary focus on premier office and retail assets in New York City. The company’s portfolio includes office buildings, retail properties and mixed-use developments located in high-profile business and shopping districts.

Vornado is particularly active in Manhattan, where it has pursued large-scale development and redevelopment initiatives in the Penn District surrounding Pennsylvania Station.