Bank of Montreal Can Has $22.50 Million Stock Position in Vornado Realty Trust (NYSE:VNO)

Bank of Montreal Can raised its position in Vornado Realty Trust (NYSE:VNO) by 2,229.1% during the second quarter, HoldingsChannel.com reports. The firm owned 855,572 shares of the real estate investment trust’s stock after buying an additional 818,838 shares during the quarter. Bank of Montreal Can’s holdings in Vornado Realty Trust were worth $22,502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VNO. Envestnet Portfolio Solutions Inc. increased its holdings in Vornado Realty Trust by 3.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 386 shares during the last quarter. First National Bank Sioux Falls grew its position in Vornado Realty Trust by 3.3% in the first quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 496 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Vornado Realty Trust by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 200,756 shares of the real estate investment trust’s stock worth $5,776,000 after purchasing an additional 527 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Vornado Realty Trust by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 101,565 shares of the real estate investment trust’s stock valued at $2,921,000 after purchasing an additional 531 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of Vornado Realty Trust by 5.8% in the 1st quarter. Park Avenue Securities LLC now owns 10,036 shares of the real estate investment trust’s stock valued at $289,000 after purchasing an additional 553 shares during the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Stock Performance

NYSE:VNO opened at $38.88 on Friday. The firm’s 50-day moving average is $33.34 and its 200-day moving average is $28.60. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 259.22 and a beta of 1.65. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. Vornado Realty Trust has a 52-week low of $18.36 and a 52-week high of $39.91.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.37). Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The firm had revenue of $450.27 million for the quarter, compared to the consensus estimate of $439.28 million. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. Equities research analysts anticipate that Vornado Realty Trust will post 2.17 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on VNO. Scotiabank raised their target price on Vornado Realty Trust from $23.00 to $33.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Compass Point raised their price objective on Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Truist Financial boosted their target price on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Evercore ISI lifted their price target on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group upped their price objective on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a report on Thursday, September 12th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.43.

Insider Activity

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