PNC Financial Services Group Inc. Buys 974 Shares of Vornado Realty Trust (NYSE:VNO)

PNC Financial Services Group Inc. increased its stake in shares of Vornado Realty Trust (NYSE:VNO) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,550 shares of the real estate investment trust’s stock after buying an additional 974 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vornado Realty Trust were worth $464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. US Bancorp DE lifted its stake in Vornado Realty Trust by 8.7% during the 1st quarter. US Bancorp DE now owns 20,286 shares of the real estate investment trust’s stock valued at $750,000 after acquiring an additional 1,622 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Vornado Realty Trust by 2.8% in the first quarter. Natixis Advisors LLC now owns 52,778 shares of the real estate investment trust’s stock valued at $1,952,000 after purchasing an additional 1,462 shares during the last quarter. Bayforest Capital Ltd bought a new position in shares of Vornado Realty Trust during the first quarter valued at about $294,000. Vestcor Inc bought a new position in shares of Vornado Realty Trust during the first quarter valued at about $918,000. Finally, XTX Topco Ltd purchased a new position in Vornado Realty Trust during the first quarter worth about $699,000. 90.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on VNO shares. Mizuho decreased their price objective on shares of Vornado Realty Trust from $48.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, July 14th. Scotiabank upped their target price on Vornado Realty Trust from $42.00 to $45.00 and gave the company a “sector perform” rating in a report on Monday, July 14th. Piper Sandler increased their price target on Vornado Realty Trust from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, May 23rd. Wall Street Zen raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, May 15th. Finally, Truist Financial upped their price objective on Vornado Realty Trust from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Vornado Realty Trust has a consensus rating of “Hold” and an average price target of $37.80.

Insiders Place Their Bets

In other Vornado Realty Trust news, EVP Haim Chera sold 20,000 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $37.98, for a total transaction of $759,600.00. Following the sale, the executive vice president owned 30,000 shares of the company’s stock, valued at $1,139,400. The trade was a 40.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.42% of the company’s stock.

Vornado Realty Trust Trading Up 2.7%

Shares of VNO opened at $37.83 on Thursday. Vornado Realty Trust has a fifty-two week low of $29.68 and a fifty-two week high of $46.63. The business has a 50-day moving average of $38.80 and a 200 day moving average of $38.40. The firm has a market cap of $7.26 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 13.32 and a beta of 1.56. The company has a debt-to-equity ratio of 1.40, a quick ratio of 6.82 and a current ratio of 6.82.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 19.64%. The firm had revenue of $441.44 million during the quarter, compared to the consensus estimate of $468.79 million. During the same quarter last year, the company earned $0.57 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. As a group, research analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current year.

About Vornado Realty Trust

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