24,830 Shares in Vornado Realty Trust (NYSE:VNO) Purchased by Vestcor Inc

Key Points

• Vestcor Inc purchased 24,830 shares of Vornado Realty Trust (NYSE:VNO) during the 1st quarter, valued at approximately $918,000.
• In the 4th quarter, several institutional investors significantly increased their holdings in Vornado, with Invesco Ltd raising theirs by 111.3% to 3,135,900 shares.
• Vornado Realty Trust reported better-than-expected earnings for the last quarter, with an EPS of $0.63, exceeding the consensus estimate of $0.52.

Vestcor Inc acquired a new position in Vornado Realty Trust (NYSE:VNO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 24,830 shares of the real estate investment trust's stock, valued at approximately $918,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Vornado Realty Trust by 3.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,888,449 shares of the real estate investment trust's stock valued at $373,672,000 after purchasing an additional 278,409 shares in the last quarter. Invesco Ltd. lifted its holdings in Vornado Realty Trust by 111.3% in the 4th quarter. Invesco Ltd. now owns 3,135,900 shares of the real estate investment trust's stock valued at $131,833,000 after purchasing an additional 1,651,819 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Vornado Realty Trust by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 3,131,504 shares of the real estate investment trust's stock valued at $131,686,000 after purchasing an additional 25,209 shares in the last quarter. Northern Trust Corp lifted its holdings in Vornado Realty Trust by 98.3% in 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 purchasing an additional 1,358,498 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Vornado Realty Trust by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,501,788 shares of the real estate investment trust's stock valued at $105,173,000 after purchasing an additional 15,921 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Haim Chera sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $37.98, for a total value of $759,600.00. Following the transaction, the executive vice president owned 30,000 shares in the company, valued at approximately $1,139,400. This trade represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.42% of the company's stock.

Vornado Realty Trust Trading Down 2.0%

NYSE VNO opened at $37.67 on Friday. Vornado Realty Trust has a one year low of $26.19 and a one year high of $46.63. The company's 50 day moving average price is $38.93 and its 200 day moving average price is $38.63. The company has a debt-to-equity ratio of 1.81, a quick ratio of 4.10 and a current ratio of 4.10. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 72.44, a PEG ratio of 13.90 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.63 EPS for the quarter, beating the consensus estimate of $0.52 by $0.11. Vornado Realty Trust had a net margin of 9.17% and a return on equity of 3.83%. The firm had revenue of $461.58 million for the quarter, compared to analyst estimates of $452.68 million. During the same quarter last year, the firm posted $0.55 earnings per share. Vornado Realty Trust's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Vornado Realty Trust will post 2.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VNO. Wall Street Zen upgraded shares of Vornado Realty Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Piper Sandler upped their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Scotiabank upped their target price on shares of Vornado Realty Trust from $42.00 to $45.00 and gave the company a "sector perform" rating in a report on Monday, July 14th. Truist Financial upped their target price on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. Finally, Mizuho cut their price objective on shares of Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $38.09.

Vornado Realty Trust Company Profile

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

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