Principal Financial Group Inc. Cuts Stock Position in Vornado Realty Trust (NYSE:VNO)

Principal Financial Group Inc. cut its stake in shares of Vornado Realty Trust (NYSE:VNO) by 11.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 533,961 shares of the real estate investment trust’s stock after selling 69,420 shares during the period. Principal Financial Group Inc. owned about 0.28% of Vornado Realty Trust worth $14,038,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VNO. Fidelis Capital Partners LLC acquired a new stake in shares of Vornado Realty Trust in the first quarter worth approximately $55,000. Principal Securities Inc. acquired a new stake in Vornado Realty Trust during the 4th quarter worth $58,000. EverSource Wealth Advisors LLC grew its holdings in shares of Vornado Realty Trust by 61.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 1,018 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Vornado Realty Trust by 17.6% in the first quarter. GAMMA Investing LLC now owns 5,000 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 750 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new position in shares of Vornado Realty Trust in the fourth quarter worth about $147,000. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Stock Performance

NYSE VNO opened at $33.64 on Friday. The stock has a fifty day simple moving average of $30.26 and a 200-day simple moving average of $27.35. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The stock has a market cap of $6.41 billion, a PE ratio of 224.28 and a beta of 1.65. Vornado Realty Trust has a twelve month low of $18.36 and a twelve month high of $35.26.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.37). The company had revenue of $450.27 million for the quarter, compared to analysts’ expectations of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Equities analysts anticipate that Vornado Realty Trust will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on VNO. Piper Sandler raised shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $22.00 to $30.00 in a research note on Thursday, August 8th. BMO Capital Markets upgraded Vornado Realty Trust from a “market perform” rating to an “outperform” rating and upped their price target for the company from $29.00 to $40.00 in a research report on Thursday, August 8th. Compass Point increased their price target on Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Evercore ISI boosted their price objective on Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Finally, Barclays raised their target price on Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Vornado Realty Trust presently has a consensus rating of “Hold” and an average target price of $30.23.

Insider Activity at Vornado Realty Trust

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $28.19, for a total transaction of $56,380.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at $85,528.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.14% of the stock is owned by insiders.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.