Ameriprise Financial Inc. Sells 80,323 Shares of Vornado Realty Trust (NYSE:VNO)

Ameriprise Financial Inc. lowered its stake in Vornado Realty Trust (NYSE:VNO) by 24.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 245,376 shares of the real estate investment trust’s stock after selling 80,323 shares during the period. Ameriprise Financial Inc. owned approximately 0.13% of Vornado Realty Trust worth $10,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Vornado Realty Trust in the 4th quarter worth approximately $729,073,000. Principal Financial Group Inc. grew its holdings in shares of Vornado Realty Trust by 126.8% in the fourth quarter. Principal Financial Group Inc. now owns 6,396,551 shares of the real estate investment trust’s stock worth $268,912,000 after purchasing an additional 3,575,593 shares during the last quarter. Invesco Ltd. increased its stake in shares of Vornado Realty Trust by 111.3% in the fourth quarter. Invesco Ltd. now owns 3,135,900 shares of the real estate investment trust’s stock worth $131,833,000 after buying an additional 1,651,819 shares during the period. Northern Trust Corp raised its holdings in Vornado Realty Trust by 98.3% during the 4th quarter. Northern Trust Corp now owns 2,741,129 shares of the real estate investment trust’s stock valued at $115,237,000 after buying an additional 1,358,498 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Vornado Realty Trust by 7.1% during the 4th quarter. Franklin Resources Inc. now owns 11,899,686 shares of the real estate investment trust’s stock valued at $500,263,000 after buying an additional 792,100 shares during the period. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Trading Down 1.2%

Shares of NYSE VNO opened at $39.17 on Tuesday. Vornado Realty Trust has a 1 year low of $22.42 and a 1 year high of $46.63. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.59 and a quick ratio of 4.59. The firm has a 50-day moving average of $36.43 and a 200 day moving average of $39.93. The stock has a market cap of $7.52 billion, a P/E ratio of 979.25, a price-to-earnings-growth ratio of 9.69 and a beta of 1.47.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, May 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. Vornado Realty Trust had a net margin of 3.94% and a return on equity of 1.60%. The business had revenue of $461.58 million during the quarter, compared to the consensus estimate of $452.68 million. During the same quarter last year, the firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VNO. The Goldman Sachs Group upped their price objective on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the company a “sell” rating in a research note on Tuesday, February 25th. Morgan Stanley increased their price objective on Vornado Realty Trust from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Piper Sandler reduced their target price on Vornado Realty Trust from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. StockNews.com upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Finally, Barclays upped their price objective on shares of Vornado Realty Trust from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $38.00.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.