M&T Bank Corp Increases Stake in Vornado Realty Trust (NYSE:VNO)

M&T Bank Corp grew its holdings in Vornado Realty Trust (NYSE:VNO) by 141.1% during the 4th quarter, Holdings Channel reports. The fund owned 71,190 shares of the real estate investment trust’s stock after buying an additional 41,657 shares during the period. M&T Bank Corp’s holdings in Vornado Realty Trust were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its position in Vornado Realty Trust by 46.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 16,430 shares of the real estate investment trust’s stock valued at $373,000 after purchasing an additional 5,242 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Vornado Realty Trust by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 1,560,328 shares of the real estate investment trust’s stock worth $35,388,000 after buying an additional 34,457 shares during the period. New York State Teachers Retirement System raised its stake in shares of Vornado Realty Trust by 1.9% in the third quarter. New York State Teachers Retirement System now owns 199,976 shares of the real estate investment trust’s stock worth $4,535,000 after buying an additional 3,807 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vornado Realty Trust by 9.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,503 shares of the real estate investment trust’s stock valued at $1,599,000 after buying an additional 6,022 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Vornado Realty Trust during the 3rd quarter valued at approximately $1,135,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock opened at $24.66 on Friday. The firm has a market cap of $4.70 billion, a PE ratio of 164.40 and a beta of 1.57. Vornado Realty Trust has a 12 month low of $12.31 and a 12 month high of $32.21. The stock has a 50 day moving average of $26.66 and a 200 day moving average of $25.96. 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 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 during the quarter, compared to the consensus estimate 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 for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 EPS. On average, research analysts expect that Vornado Realty Trust will post 2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Morgan Stanley raised shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Barclays began coverage on shares of Vornado Realty Trust in a report on Wednesday, March 27th. They issued an “underweight” rating and a $22.00 target price for the company. The Goldman Sachs Group decreased their price target 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. Compass Point dropped their price objective on Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Evercore ISI decreased their target price on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating on the stock in a research note on Thursday, February 15th. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, Vornado Realty Trust currently has an average rating of “Reduce” and a consensus target price of $25.00.

Vornado Realty Trust Company 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.