Federated Hermes Inc. Sells 7,716 Shares of Vornado Realty Trust (NYSE:VNO)

Federated Hermes Inc. lowered its position in Vornado Realty Trust (NYSE:VNO) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,141 shares of the real estate investment trust’s stock after selling 7,716 shares during the quarter. Federated Hermes Inc.’s holdings in Vornado Realty Trust were worth $2,151,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Vornado Realty Trust by 0.5% in the third quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock worth $554,726,000 after purchasing an additional 116,504 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Vornado Realty Trust in the third quarter worth $132,326,000. Deutsche Bank AG grew its position in Vornado Realty Trust by 141.9% in the third quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock worth $96,128,000 after acquiring an additional 2,486,439 shares in the last quarter. Earnest Partners LLC grew its position in Vornado Realty Trust by 3.5% in the third quarter. Earnest Partners LLC now owns 2,603,909 shares of the real estate investment trust’s stock worth $59,057,000 after acquiring an additional 89,067 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Vornado Realty Trust by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,546,176 shares of the real estate investment trust’s stock worth $57,747,000 after acquiring an additional 527,229 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Wall Street Analyst Weigh In

VNO has been the subject of several research reports. Evercore ISI cut their target price on shares of Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, February 15th. Barclays assumed coverage on shares of Vornado Realty Trust in a research report on Wednesday, March 27th. They issued an “underweight” rating and a $22.00 target price for the company. The Goldman Sachs Group cut their price target on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 22nd. Finally, Morgan Stanley upgraded shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Six research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, Vornado Realty Trust presently has an average rating of “Reduce” and a consensus target price of $24.80.

Vornado Realty Trust Trading Down 0.5 %

Shares of VNO stock opened at $26.26 on Monday. Vornado Realty Trust has a 12-month low of $12.31 and a 12-month high of $32.21. The company has a current ratio of 4.95, a quick ratio of 4.95 and a debt-to-equity ratio of 1.82. The firm’s 50 day moving average is $26.66 and its 200 day moving average is $25.76. The stock has a market capitalization of $5.00 billion, a P/E ratio of 114.17 and a beta of 1.57.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.55). The business had revenue of $441.89 million for the quarter, compared to analysts’ expectations of $453.82 million. Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. Research analysts expect that Vornado Realty Trust will post 2.3 earnings per share for the current year.

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.