Lecap Asset Management Ltd. Acquires New Holdings in Vornado Realty Trust (NYSE:VNO)

Lecap Asset Management Ltd. bought a new position in Vornado Realty Trust (NYSE:VNO) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 42,349 shares of the real estate investment trust’s stock, valued at approximately $1,669,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can grew its position in shares of Vornado Realty Trust by 2,229.1% in the 2nd quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock valued at $22,502,000 after purchasing an additional 818,838 shares during the period. Natixis bought a new position in Vornado Realty Trust in the first quarter valued at approximately $21,564,000. Duff & Phelps Investment Management Co. boosted its holdings in shares of Vornado Realty Trust by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock valued at $51,875,000 after buying an additional 612,765 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Vornado Realty Trust by 324.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock worth $20,292,000 after acquiring an additional 590,176 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Vornado Realty Trust during the first quarter worth $12,824,000. 90.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VNO. The Goldman Sachs Group upped their target price on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research note on Thursday, September 12th. Bank of America upped their price objective on Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Piper Sandler reissued a “neutral” rating and issued a $44.00 target price (up previously from $30.00) on shares of Vornado Realty Trust in a research report on Friday, October 18th. Scotiabank upped their price target on 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. Finally, BMO Capital Markets raised shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Vornado Realty Trust presently has an average rating of “Hold” and an average target price of $31.70.

Vornado Realty Trust Stock Performance

Shares of VNO stock opened at $42.87 on Thursday. The company has a fifty day moving average price of $37.28 and a two-hundred day moving average price of $30.31. Vornado Realty Trust has a one year low of $18.36 and a one year high of $43.78. The stock has a market cap of $8.17 billion, a P/E ratio of 285.80 and a beta of 1.65. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21.

Vornado Realty Trust (NYSE:VNO) last announced 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 return on equity of 3.21% and a net margin of 4.51%. The business had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. During the same period last year, the firm earned $0.72 EPS. Vornado Realty Trust’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts predict that Vornado Realty Trust will post 2.17 EPS for the current year.

Vornado Realty Trust Profile

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