Intech Investment Management LLC Acquires Shares of 21,090 Vornado Realty Trust (NYSE:VNO)

Intech Investment Management LLC bought a new position in Vornado Realty Trust (NYSE:VNO) in the second quarter, HoldingsChannel reports. The fund bought 21,090 shares of the real estate investment trust’s stock, valued at approximately $554,000.

A number of other institutional investors also recently modified their holdings of VNO. Fidelis Capital Partners LLC purchased a new stake in shares of Vornado Realty Trust during the first quarter worth $55,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Vornado Realty Trust by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 1,018 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Vornado Realty Trust by 17.6% in the 1st 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 in the last quarter. Clear Street Markets LLC bought a new stake in shares of Vornado Realty Trust in the 4th quarter valued at approximately $147,000. Finally, Hilltop National Bank acquired a new position in Vornado Realty Trust in the first quarter worth approximately $159,000. Institutional investors and hedge funds own 90.02% of the company’s stock.

Insider Activity at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. 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 report on Wednesday, August 14th. Scotiabank increased their target price on shares of Vornado Realty Trust from $23.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Compass Point raised their target price on Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. Finally, Piper Sandler raised Vornado Realty Trust from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $22.00 to $30.00 in a research note on Thursday, August 8th. Four 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.43.

Vornado Realty Trust Price Performance

VNO opened at $38.84 on Friday. Vornado Realty Trust has a 1-year low of $18.36 and a 1-year high of $39.91. 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 capitalization of $7.40 billion, a price-to-earnings ratio of 258.95 and a beta of 1.65. The business has a 50 day moving average of $33.14 and a 200-day moving average of $28.51.

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 for the quarter, missing analysts’ consensus estimates 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 company had revenue of $450.27 million during the quarter, compared to the consensus estimate of $439.28 million. During the same period last year, the company earned $0.72 earnings per share. Vornado Realty Trust’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 2.17 earnings per share for the current year.

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.