Centersquare Investment Management LLC Raises Stake in Vornado Realty Trust (NYSE:VNO)

Key Points

• Centersquare Investment Management LLC increased its holdings in Vornado Realty Trust by 32.2%, now owning over 2.5 million shares valued at approximately $96 million.
• Despite the increase in institutional ownership, Vornado Realty Trust shares are currently down 3.9%, trading at approximately $37.16.
• The consensus rating for Vornado Realty Trust among analysts is "Hold", with a price target averaging $38.09.

Centersquare Investment Management LLC lifted its stake in Vornado Realty Trust (NYSE:VNO - Free Report) by 32.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,595,901 shares of the real estate investment trust's stock after buying an additional 632,721 shares during the quarter. Centersquare Investment Management LLC owned approximately 1.35% of Vornado Realty Trust worth $96,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VNO. SG Americas Securities LLC purchased a new stake in Vornado Realty Trust during the 1st quarter valued at about $2,151,000. Teacher Retirement System of Texas purchased a new stake in shares of Vornado Realty Trust in the first quarter valued at approximately $876,000. Handelsbanken Fonder AB increased its holdings in shares of Vornado Realty Trust by 20.7% in the first quarter. Handelsbanken Fonder AB now owns 51,300 shares of the real estate investment trust's stock valued at $1,898,000 after purchasing an additional 8,800 shares during the last quarter. GAMMA Investing LLC lifted its position in Vornado Realty Trust by 18.2% during the first quarter. GAMMA Investing LLC now owns 5,636 shares of the real estate investment trust's stock worth $208,000 after buying an additional 868 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Vornado Realty Trust by 16.4% during the first quarter. Fifth Third Bancorp now owns 2,214 shares of the real estate investment trust's stock worth $82,000 after buying an additional 312 shares during the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Stock Down 0.5%

NYSE:VNO traded down $0.20 during midday trading on Thursday, reaching $37.58. The company had a trading volume of 1,248,614 shares, compared to its average volume of 1,630,366. Vornado Realty Trust has a 12-month low of $29.68 and a 12-month high of $46.63. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 13.67 and a beta of 1.56. The company has a current ratio of 6.82, a quick ratio of 4.10 and a debt-to-equity ratio of 1.40. The stock's fifty day simple moving average is $38.92 and its 200-day simple moving average is $38.53.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $441.44 million during the quarter, compared to analysts' expectations of $468.79 million. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 19.64%. The company's revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. On average, sell-side analysts anticipate that Vornado Realty Trust will post 2.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on VNO. Mizuho lowered their price target on shares of Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. Truist Financial increased their price target on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Piper Sandler lifted their price target on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Evercore ISI lowered their price objective on Vornado Realty Trust from $45.00 to $44.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Scotiabank upped their price target on Vornado Realty Trust from $42.00 to $45.00 and gave the company a "sector perform" rating in a research note on Monday, July 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $38.00.

Insider Activity

In other Vornado Realty Trust news, EVP Haim Chera sold 20,000 shares of Vornado Realty Trust 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 completion of the sale, the executive vice president directly owned 30,000 shares of the company's stock, valued at approximately $1,139,400. The trade was a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.42% of the company's stock.

About Vornado Realty Trust

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