First Republic Investment Management Inc. bought a new stake in Vornado Realty Trust (NYSE:VNO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,263 shares of the real estate investment trust’s stock, valued at approximately $1,054,000.
Other institutional investors have also recently bought and sold shares of the company. Federated Investors Inc. PA lifted its position in Vornado Realty Trust by 5,125.0% during the second quarter. Federated Investors Inc. PA now owns 2,090 shares of the real estate investment trust’s stock worth $154,000 after buying an additional 2,050 shares during the period. Linscomb & Williams Inc. purchased a new position in shares of Vornado Realty Trust in the 2nd quarter worth about $211,000. Fieldpoint Private Securities LLC raised 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 worth $238,000 after purchasing an additional 1,575 shares during the period. Sentry Investments Corp. purchased a new position in shares of Vornado Realty Trust in the 1st quarter worth about $249,000. Finally, IBM Retirement Fund grew its stake in Vornado Realty Trust by 47.6% during the 1st quarter. IBM Retirement Fund now owns 3,799 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 1,226 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on VNO. Argus raised their price objective 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. ValuEngine upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. SunTrust Banks reissued a “buy” rating and issued a $85.00 price target on shares of Vornado Realty Trust in a report on Thursday, August 16th. Deutsche Bank cut their price target on Vornado Realty Trust from $82.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, June 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 target price on shares of Vornado Realty Trust in a research note on Monday, July 30th. One equities research 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. Vornado Realty Trust has an average rating of “Buy” and an average price target of $79.78.
Shares of NYSE VNO traded down $0.34 during mid-day trading on Friday, reaching $67.46. The company had a trading volume of 875,042 shares, compared to its average volume of 1,020,643. Vornado Realty Trust has a 1-year low of $64.13 and a 1-year high of $80.30. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 8.75 and a beta of 0.91.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $539.78 million. During the same quarter in the prior year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that Vornado Realty Trust will post 3.88 earnings per share for the current year.
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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