Bank of Montreal Can Purchases New Position in Vornado Realty Trust (NYSE:VNO)

Bank of Montreal Can purchased a new stake in Vornado Realty Trust (NYSE:VNO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 34,811 shares of the real estate investment trust’s stock, valued at approximately $632,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VNO. Norges Bank purchased a new stake in Vornado Realty Trust in the fourth quarter valued at $376,294,000. BlackRock Inc. lifted its position in Vornado Realty Trust by 30.0% in the first quarter. BlackRock Inc. now owns 20,448,221 shares of the real estate investment trust’s stock valued at $314,289,000 after acquiring an additional 4,723,170 shares during the last quarter. State Street Corp lifted its position in Vornado Realty Trust by 10.8% in the first quarter. State Street Corp now owns 13,527,974 shares of the real estate investment trust’s stock valued at $613,088,000 after acquiring an additional 1,319,443 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Vornado Realty Trust in the first quarter valued at about $17,554,000. Finally, Franklin Resources Inc. raised its holdings in shares of Vornado Realty Trust by 53.2% in the first quarter. Franklin Resources Inc. now owns 3,102,930 shares of the real estate investment trust’s stock valued at $47,692,000 after buying an additional 1,077,106 shares during the last quarter. 75.86% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Trading Up 1.2 %

Shares of VNO opened at $23.33 on Thursday. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.69. The firm’s 50-day moving average is $22.11 and its two-hundred day moving average is $19.45. Vornado Realty Trust has a twelve month low of $12.31 and a twelve month high of $26.76. The firm has a market capitalization of $4.44 billion, a P/E ratio of -11.55 and a beta of 1.50.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VNO. Truist Financial cut shares of Vornado Realty Trust from a “buy” rating to a “hold” rating and upped their target price for the company from $22.00 to $27.00 in a report on Friday, September 15th. Evercore ISI reduced their target price on shares of Vornado Realty Trust from $25.00 to $24.00 in a report on Monday, October 9th. Bank of America upped their target price on shares of Vornado Realty Trust from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Piper Sandler reduced their target price on shares of Vornado Realty Trust from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Wednesday, November 1st. Finally, StockNews.com cut shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.00.

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.