Lecap Asset Management Ltd. Acquires New Holdings in Vornado Realty Trust $VNO

Key Points

• Lecap Asset Management Ltd. acquired new holdings in Vornado Realty Trust during the second quarter, purchasing 23,439 shares valued at approximately $896,000.
• Several hedge funds significantly increased their stakes in Vornado Realty Trust, with institutional investors now owning 90.02% of the company's stock.
• Recent analyst reports have resulted in various changes to price targets for Vornado Realty Trust, with a consensus rating of "Hold" and a target price of $38.64.

Lecap Asset Management Ltd. bought a new position in Vornado Realty Trust (NYSE:VNO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,439 shares of the real estate investment trust's stock, valued at approximately $896,000.

Several other hedge funds also recently modified their holdings of the business. Twin Tree Management LP raised its holdings in shares of Vornado Realty Trust by 102.1% during the 1st quarter. Twin Tree Management LP now owns 785 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 38,585 shares in the last quarter. UMB Bank n.a. raised its holdings in Vornado Realty Trust by 67.7% during the first quarter. UMB Bank n.a. now owns 1,295 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 523 shares in the last quarter. Assetmark Inc. raised its holdings in Vornado Realty Trust by 23.3% during the first quarter. Assetmark Inc. now owns 1,835 shares of the real estate investment trust's stock valued at $68,000 after buying an additional 347 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Vornado Realty Trust in the first quarter worth about $75,000. Finally, Fifth Third Bancorp boosted its stake in shares of Vornado Realty Trust by 16.4% during the 1st quarter. Fifth Third Bancorp now owns 2,214 shares of the real estate investment trust's stock worth $82,000 after acquiring an additional 312 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

Analyst Ratings Changes

VNO has been the topic of a number of recent analyst reports. Barclays raised their price objective on Vornado Realty Trust from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, August 21st. Citigroup raised shares of Vornado Realty Trust from a "sell" rating to a "neutral" rating and lifted their price target for the company from $34.00 to $42.00 in a research report on Friday, September 12th. 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 report on Monday, July 14th. Scotiabank dropped their target price on shares of Vornado Realty Trust from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Thursday, August 28th. Finally, Bank of America cut their target price on shares of Vornado Realty Trust from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Monday, August 25th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Vornado Realty Trust has a consensus rating of "Hold" and a consensus price target of $38.64.

Vornado Realty Trust Price Performance

NYSE:VNO opened at $41.02 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 6.82 and a quick ratio of 6.82. Vornado Realty Trust has a one year low of $29.68 and a one year high of $46.63. The company has a fifty day moving average price of $39.18 and a 200 day moving average price of $38.16. The stock has a market cap of $7.88 billion, a P/E ratio of 10.15, a PEG ratio of 5.01 and a beta of 1.59.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.56 earnings per share (EPS) 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 company had revenue of $441.44 million for the quarter, compared to the consensus estimate of $468.79 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The business's revenue was down 2.0% compared to the same quarter last year. Analysts anticipate that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Insider Buying and Selling

In other Vornado Realty Trust news, EVP Haim Chera sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $39.64, for a total value of $1,189,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.42% of the stock is currently owned by company insiders.

Vornado Realty Trust Profile

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

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