Vornado Realty Trust (NYSE:VNO) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in Vornado Realty Trust (NYSE:VNO) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,650 shares of the real estate investment trust’s stock after selling 1,685 shares during the period. Van ECK Associates Corp’s holdings in Vornado Realty Trust were worth $1,858,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pinebridge Investments L.P. acquired a new stake in Vornado Realty Trust in the 4th quarter valued at about $2,320,000. Waterloo Capital L.P. acquired a new stake in Vornado Realty Trust in the fourth quarter valued at approximately $2,410,000. Sei Investments Co. lifted its stake in Vornado Realty Trust by 5.7% in the first quarter. Sei Investments Co. now owns 469,262 shares of the real estate investment trust’s stock worth $13,501,000 after acquiring an additional 25,374 shares during the last quarter. National Bank of Canada FI grew its holdings in Vornado Realty Trust by 7.9% during the 1st quarter. National Bank of Canada FI now owns 917,100 shares of the real estate investment trust’s stock worth $26,385,000 after acquiring an additional 67,100 shares in the last quarter. Finally, Cibc World Markets Corp increased its position in shares of Vornado Realty Trust by 14.9% in the 4th quarter. Cibc World Markets Corp now owns 413,568 shares of the real estate investment trust’s stock valued at $11,683,000 after purchasing an additional 53,568 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vornado Realty Trust

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 3,034 shares in the company, valued at $85,528.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.14% of the company’s stock.

Vornado Realty Trust Stock Down 0.6 %

Shares of NYSE:VNO opened at $33.44 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21. The stock has a market cap of $6.37 billion, a P/E ratio of 222.95 and a beta of 1.65. Vornado Realty Trust has a 1-year low of $18.36 and a 1-year high of $35.26. The firm has a fifty day moving average price of $30.40 and a 200 day moving average price of $27.40.

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 business had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. Vornado Realty Trust’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. Sell-side analysts predict that Vornado Realty Trust will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

VNO has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 14th. Piper Sandler upgraded Vornado Realty Trust from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $22.00 to $30.00 in a report on Thursday, August 8th. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. The Goldman Sachs Group increased their price target on shares of Vornado Realty Trust from $19.00 to $21.50 and gave the company a “sell” rating in a research note on Tuesday, August 27th. Finally, Truist Financial upped their target price on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.23.

About Vornado Realty Trust

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.