Van ECK Associates Corp Increases Position in Vornado Realty Trust (NYSE:VNO)

Van ECK Associates Corp raised its holdings in Vornado Realty Trust (NYSE:VNO) by 15.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,024 shares of the real estate investment trust’s stock after acquiring an additional 9,468 shares during the period. Van ECK Associates Corp’s holdings in Vornado Realty Trust were worth $1,978,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of VNO. Rheos Capital Works Inc. lifted its position in Vornado Realty Trust by 55.1% during the fourth quarter. Rheos Capital Works Inc. now owns 318,000 shares of the real estate investment trust’s stock worth $8,984,000 after buying an additional 113,000 shares in the last quarter. Gotham Asset Management LLC raised its holdings in shares of Vornado Realty Trust by 16.8% during the 3rd quarter. Gotham Asset Management LLC now owns 321,993 shares of the real estate investment trust’s stock worth $7,303,000 after acquiring an additional 46,316 shares during the period. Rush Island Management LP acquired a new position in shares of Vornado Realty Trust during the 3rd quarter valued at about $27,901,000. Vanguard Group Inc. grew 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 valued at $554,726,000 after purchasing an additional 116,504 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Vornado Realty Trust by 50.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 215,608 shares of the real estate investment trust’s stock worth $4,890,000 after purchasing an additional 72,750 shares during the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Trading Down 2.1 %

VNO opened at $23.71 on Thursday. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 158.07 and a beta of 1.57. Vornado Realty Trust has a 52 week low of $12.31 and a 52 week high of $32.21. The business’s 50 day moving average is $26.69 and its two-hundred day moving average is $25.97. The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.82.

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 analysts’ consensus estimates of $0.59 by ($0.55). The business had revenue of $441.89 million for the quarter, compared to analyst estimates of $453.82 million. Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. On average, research analysts predict that Vornado Realty Trust will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

VNO has been the subject of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, February 22nd. Compass Point reduced their target price on Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday. Evercore ISI lowered 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. Morgan Stanley upgraded shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Finally, Barclays started coverage on shares of Vornado Realty Trust in a research note on Wednesday, March 27th. They set an “underweight” rating and a $22.00 target price for the company. Six research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $25.00.

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.