Pacific Heights Asset Management LLC Has $4.78 Million Stock Holdings in Vornado Realty Trust $VNO

Key Points

• Pacific Heights Asset Management LLC increased its holdings in Vornado Realty Trust by 25%, owning 125,000 shares valued at $4.78 million as of the recent SEC filing.
• Vornado Realty Trust reported an EPS of $0.56 for the latest quarter, exceeding expectations but showing a 2.0% year-over-year revenue decline.
• Analysts have revised price targets for Vornado Realty Trust, with Bank of America reducing its target from $42 to $40 while maintaining a "neutral" rating.

Pacific Heights Asset Management LLC lifted its holdings in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 25.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,000 shares of the real estate investment trust's stock after buying an additional 25,000 shares during the period. Pacific Heights Asset Management LLC owned about 0.07% of Vornado Realty Trust worth $4,780,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. US Bancorp DE raised its holdings in shares of Vornado Realty Trust by 1.3% during the 2nd quarter. US Bancorp DE now owns 20,545 shares of the real estate investment trust's stock worth $786,000 after buying an additional 259 shares in the last quarter. Signaturefd LLC grew its position in shares of Vornado Realty Trust by 1.4% in the 1st quarter. Signaturefd LLC now owns 20,482 shares of the real estate investment trust's stock valued at $758,000 after buying an additional 282 shares during the last quarter. Compound Planning Inc. grew its position in shares of Vornado Realty Trust by 4.4% in the 1st quarter. Compound Planning Inc. now owns 7,341 shares of the real estate investment trust's stock valued at $272,000 after buying an additional 311 shares during the last quarter. Norinchukin Bank The grew its position in shares of Vornado Realty Trust by 4.7% in the 1st quarter. Norinchukin Bank The now owns 7,664 shares of the real estate investment trust's stock valued at $283,000 after buying an additional 341 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Vornado Realty Trust by 23.3% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

Vornado Realty Trust Stock Up 2.4%

Shares of NYSE:VNO opened at $39.21 on Wednesday. The business's 50 day simple moving average is $39.61 and its two-hundred day simple moving average is $38.36. The firm has a market cap of $7.53 billion, a P/E ratio of 9.70, a PEG ratio of 4.65 and a beta of 1.59. The company has a debt-to-equity ratio of 1.40, a quick ratio of 6.82 and a current ratio of 6.82. Vornado Realty Trust has a 52-week low of $29.68 and a 52-week high of $46.63.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $441.44 million for the quarter, compared to analyst estimates of $468.79 million. Vornado Realty Trust had a return on equity of 19.64% and a net margin of 48.49%.The company's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. As a group, research analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on VNO. Bank of America cut their target price on Vornado Realty Trust from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Monday, August 25th. Mizuho cut their target price on 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. Citigroup upgraded Vornado Realty Trust from a "sell" rating to a "neutral" rating and upped their target price for the company from $34.00 to $42.00 in a research report on Friday, September 12th. Evercore ISI upped their target price on Vornado Realty Trust from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Finally, Barclays upped their target price on Vornado Realty Trust from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $39.42.

Insider Activity at Vornado Realty Trust

In related news, EVP Haim Chera sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $39.64, for a total transaction of $1,189,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.42% of the company's stock.

Vornado Realty Trust Profile

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

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