Vornado Realty Trust (NYSE:VNO) Holdings Decreased by abrdn plc

abrdn plc cut its holdings in shares of Vornado Realty Trust (NYSE:VNO) by 9.4% in the fourth quarter, HoldingsChannel reports. The fund owned 32,660 shares of the real estate investment trust’s stock after selling 3,383 shares during the quarter. abrdn plc’s holdings in Vornado Realty Trust were worth $923,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Vornado Realty Trust during the fourth quarter worth approximately $26,000. Financial Gravity Asset Management Inc. grew its holdings in shares of Vornado Realty Trust by 8,355.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,522 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,504 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Vornado Realty Trust in the fourth quarter worth $40,000. Selway Asset Management purchased a new stake in shares of Vornado Realty Trust during the third quarter worth $45,000. Finally, Whittier Trust Co. boosted its position in Vornado Realty Trust by 1,227.7% during the third quarter. Whittier Trust Co. now owns 2,058 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,903 shares during the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore ISI reduced their price target on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a report on Thursday, February 15th. Barclays started coverage on shares of Vornado Realty Trust in a report on Wednesday, March 27th. They set an “underweight” rating and a $22.00 price target on the stock. Morgan Stanley upgraded Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Finally, The Goldman Sachs Group lowered their price objective on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 22nd. Six equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $24.80.

Vornado Realty Trust Stock Up 2.8 %

VNO opened at $26.99 on Tuesday. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 117.35 and a beta of 1.57. Vornado Realty Trust has a 1-year low of $12.31 and a 1-year high of $32.21. The business has a 50 day moving average of $26.68 and a 200-day moving average of $25.80. The company has a current ratio of 4.95, a quick ratio of 4.95 and a debt-to-equity ratio of 1.82.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). Vornado Realty Trust had a net margin of 5.82% and a return on equity of 3.22%. The company had revenue of $441.89 million for the quarter, compared to analyst estimates of $453.82 million. During the same period in the prior year, the company posted $0.72 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 2.3 earnings per share for the current year.

Vornado Realty Trust 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.