Pacer Advisors Inc. Sells 23,165 Shares of Vornado Realty Trust (NYSE:VNO)

Key Points

• Pacer Advisors Inc. reduced its stake in Vornado Realty Trust by 66.1%, selling 23,165 shares and leaving it with 11,874 shares valued at approximately $439,000.
• Several other hedge funds have either increased or newly established positions in Vornado Realty Trust, with institutional investors owning 90.02% of the stock.
• Analysts have mixed views on Vornado Realty Trust, with a consensus rating of "Hold" and an average price target of $38.09, reflecting varied opinions on its growth potential.

Pacer Advisors Inc. cut its position in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 66.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,874 shares of the real estate investment trust's stock after selling 23,165 shares during the quarter. Pacer Advisors Inc.'s holdings in Vornado Realty Trust were worth $439,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of Vornado Realty Trust by 1.4% in the first quarter. Signaturefd LLC now owns 20,482 shares of the real estate investment trust's stock worth $758,000 after purchasing an additional 282 shares in the last quarter. Fifth Third Bancorp raised its position 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 valued at $82,000 after acquiring an additional 312 shares in the last quarter. Vident Advisory LLC raised its position in Vornado Realty Trust by 4.7% during the fourth quarter. Vident Advisory LLC now owns 7,667 shares of the real estate investment trust's stock valued at $322,000 after acquiring an additional 344 shares in the last quarter. Assetmark Inc. raised its position 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 acquiring an additional 347 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in Vornado Realty Trust by 1.0% during the first quarter. State of Michigan Retirement System now owns 39,700 shares of the real estate investment trust's stock valued at $1,469,000 after acquiring an additional 400 shares in the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Stock Performance

VNO traded up $0.58 during trading on Wednesday, reaching $37.66. 1,028,924 shares of the company's stock were exchanged, compared to its average volume of 1,446,325. Vornado Realty Trust has a fifty-two week low of $29.68 and a fifty-two week high of $46.63. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average price of $38.94 and a 200 day moving average price of $38.56. The company has a market capitalization of $7.23 billion, a P/E ratio of 9.32, a PEG ratio of 13.98 and a beta of 1.56.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. The company had revenue of $441.44 million during the quarter, compared to analysts' expectations of $468.79 million. Vornado Realty Trust had a return on equity of 20.60% and a net margin of 48.49%. The business's revenue was down 2.0% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. As a group, analysts predict that Vornado Realty Trust will post 2.31 earnings per share for the current fiscal year.

Insider Activity

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 stock was 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 approximately $1,139,400. This trade represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on VNO shares. Mizuho dropped 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 lifted 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 report on Tuesday, June 3rd. Piper Sandler raised their price objective on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Evercore ISI lowered their price objective on shares of Vornado Realty Trust from $45.00 to $44.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Vornado Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Vornado Realty Trust has an average rating of "Hold" and a consensus price target of $38.00.

About Vornado Realty Trust

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