Northwestern Mutual Wealth Management Co. Acquires 2,465 Shares of Vornado Realty Trust (NYSE:VNO)

Northwestern Mutual Wealth Management Co. grew its stake in shares of Vornado Realty Trust (NYSE:VNO) by 98.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,972 shares of the real estate investment trust’s stock after purchasing an additional 2,465 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Vornado Realty Trust were worth $131,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its holdings in Vornado Realty Trust by 3.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 386 shares during the last quarter. First National Bank Sioux Falls lifted its position in shares of 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 buying an additional 496 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Vornado Realty Trust by 0.3% during the first quarter. Retirement Systems of Alabama now owns 200,756 shares of the real estate investment trust’s stock valued at $5,776,000 after buying an additional 527 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in 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 buying an additional 531 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in 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 worth $289,000 after acquiring an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VNO shares. StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a report on Saturday, July 20th. Evercore ISI boosted their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Truist Financial lifted their price target on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Barclays upped their price objective on Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th. Finally, Scotiabank lifted their target price on Vornado Realty Trust from $23.00 to $33.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 4th. Four investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.43.

Vornado Realty Trust Stock Performance

Shares of Vornado Realty Trust stock opened at $39.66 on Friday. Vornado Realty Trust has a 52 week low of $18.36 and a 52 week high of $40.37. The company has a market capitalization of $7.55 billion, a PE ratio of 264.40 and a beta of 1.65. The stock’s fifty day moving average is $35.40 and its two-hundred day moving average is $29.49. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78.

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

Vornado Realty Trust Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.