Earnest Partners LLC Has $98.62 Million Stock Holdings in Vornado Realty Trust $VNO

Key Points

• Earnest Partners LLC increased its holdings in Vornado Realty Trust by 3.3% during Q1, owning approximately 1.39% of the company with a total valuation of $98.62 million.
• Vornado Realty Trust has seen significant changes in institutional investments, with 90.02% of its stock currently owned by hedge funds and institutional investors.
• The company reported $0.56 earnings per share for the quarter, surpassing the analysts' estimate of $0.53, although its revenue was down 2.0% year-over-year.

Earnest Partners LLC lifted its position in Vornado Realty Trust (NYSE:VNO - Free Report) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,666,190 shares of the real estate investment trust's stock after acquiring an additional 86,000 shares during the period. Earnest Partners LLC owned approximately 1.39% of Vornado Realty Trust worth $98,622,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VNO. Hsbc Holdings PLC raised its holdings in Vornado Realty Trust by 10.0% during the 4th quarter. Hsbc Holdings PLC now owns 153,874 shares of the real estate investment trust's stock worth $6,469,000 after buying an additional 13,965 shares during the period. Voya Investment Management LLC raised its holdings in Vornado Realty Trust by 6.5% during the 4th quarter. Voya Investment Management LLC now owns 45,867 shares of the real estate investment trust's stock worth $1,928,000 after buying an additional 2,797 shares during the period. Boothbay Fund Management LLC acquired a new stake in Vornado Realty Trust during the 4th quarter worth approximately $249,000. Quarry LP raised its holdings in Vornado Realty Trust by 55.4% during the 4th quarter. Quarry LP now owns 2,135 shares of the real estate investment trust's stock worth $90,000 after buying an additional 761 shares during the period. Finally, 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 worth $115,237,000 after buying an additional 1,358,498 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Price Performance

NYSE:VNO opened at $37.01 on Wednesday. Vornado Realty Trust has a 1-year low of $29.68 and a 1-year high of $46.63. The company has a current ratio of 6.82, a quick ratio of 6.82 and a debt-to-equity ratio of 1.40. The firm has a fifty day simple moving average of $38.17 and a 200 day simple moving average of $38.04. The stock has a market capitalization of $7.11 billion, a PE ratio of 9.16, a P/E/G ratio of 13.57 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating 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 business had revenue of $441.44 million during the quarter, compared to analysts' expectations of $468.79 million. During the same period last year, the business earned $0.57 earnings per share. The firm's revenue was down 2.0% on a year-over-year basis. On average, research analysts expect that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Vornado Realty Trust news, EVP Haim Chera sold 20,000 shares of Vornado Realty Trust 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 completion of the transaction, the executive vice president directly owned 30,000 shares of the company's stock, valued at $1,139,400. The trade was a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on VNO. Piper Sandler raised their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Mizuho lowered 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. Scotiabank lifted their price objective 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 lifted their price objective 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, Bank of America lowered their price objective on shares of Vornado Realty Trust from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $38.40.

Vornado Realty Trust Profile

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

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