Bank of Montreal Can Raises Position in Vornado Realty Trust (NYSE:VNO)

Bank of Montreal Can increased its stake in Vornado Realty Trust (NYSE:VNO) by 2,229.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 855,572 shares of the real estate investment trust’s stock after buying an additional 818,838 shares during the quarter. Bank of Montreal Can owned about 0.45% of Vornado Realty Trust worth $22,502,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its position in Vornado Realty Trust by 3.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 386 shares in the last quarter. First National Bank Sioux Falls grew its holdings in Vornado Realty Trust by 3.3% during the 1st quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 496 shares in the last quarter. Retirement Systems of Alabama increased its stake in Vornado Realty Trust by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 200,756 shares of the real estate investment trust’s stock worth $5,776,000 after buying an additional 527 shares during the period. State of Alaska Department of Revenue lifted its holdings in Vornado Realty Trust by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 101,565 shares of the real estate investment trust’s stock worth $2,921,000 after buying an additional 531 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in Vornado Realty Trust by 5.8% in the 1st quarter. Park Avenue Securities LLC now owns 10,036 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 553 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the 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 sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.14% of the stock is currently owned by corporate insiders.

Vornado Realty Trust Trading Up 0.1 %

Vornado Realty Trust stock opened at $38.88 on Friday. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 259.22 and a beta of 1.65. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. The firm’s 50 day moving average price is $33.34 and its two-hundred day moving average price is $28.60. Vornado Realty Trust has a 1 year low of $18.36 and a 1 year high of $39.91.

Vornado Realty Trust (NYSE:VNO) last announced 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). Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The firm had revenue of $450.27 million during the quarter, compared to analyst estimates of $439.28 million. During the same quarter in the previous year, the business earned $0.72 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, research analysts predict that Vornado Realty Trust will post 2.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. BMO Capital Markets upgraded Vornado Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Evercore ISI raised their price target on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Piper Sandler raised Vornado Realty Trust from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $22.00 to $30.00 in a report on Thursday, August 8th. Scotiabank boosted their target price on shares of Vornado Realty Trust from $23.00 to $33.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 4th. Finally, Truist Financial boosted their price target on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.43.

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.