Retirement Systems of Alabama Sells 3,270 Shares of Vornado Realty Trust (NYSE:VNO)

Retirement Systems of Alabama reduced its holdings in Vornado Realty Trust (NYSE:VNO) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,486 shares of the real estate investment trust’s stock after selling 3,270 shares during the quarter. Retirement Systems of Alabama owned approximately 0.10% of Vornado Realty Trust worth $5,192,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Fidelis Capital Partners LLC bought a new position in Vornado Realty Trust in the 1st quarter valued at $55,000. Principal Securities Inc. bought a new position in shares of Vornado Realty Trust in the fourth quarter valued at about $58,000. EverSource Wealth Advisors LLC lifted its position in Vornado Realty Trust by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 1,018 shares in the last quarter. GAMMA Investing LLC acquired a new position in Vornado Realty Trust during the 4th quarter worth about $116,000. Finally, Clear Street Markets LLC acquired a new stake in Vornado Realty Trust in the 4th quarter valued at about $147,000. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock opened at $34.31 on Tuesday. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $6.54 billion, a P/E ratio of 228.75 and a beta of 1.64. The business has a 50-day moving average of $28.94 and a 200-day moving average of $26.91. Vornado Realty Trust has a 1 year low of $18.36 and a 1 year high of $35.26.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.37). The firm had revenue of $450.27 million during the quarter, compared to the consensus estimate of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. On average, equities analysts anticipate that Vornado Realty Trust will post 2.13 EPS for the current year.

Insider Buying and Selling

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $28.19, for a total value of $56,380.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at $85,528.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on VNO shares. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. Piper Sandler raised Vornado Realty Trust from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $22.00 to $30.00 in a report on Thursday, August 8th. Bank of America increased their price objective on Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Evercore ISI upgraded Vornado Realty Trust from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $32.00 to $38.00 in a research report on Tuesday, August 20th. Finally, Barclays raised their price target on Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.09.

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.