Principal Financial Group Inc. Sells 363,580 Shares of Vornado Realty Trust (NYSE:VNO)

Principal Financial Group Inc. reduced its holdings in Vornado Realty Trust (NYSE:VNO - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,032,971 shares of the real estate investment trust's stock after selling 363,580 shares during the period. Principal Financial Group Inc. owned 3.14% of Vornado Realty Trust worth $223,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in shares of Vornado Realty Trust by 23.8% in the 4th quarter. Assetmark Inc. now owns 1,488 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 286 shares during the period. Fifth Third Bancorp grew its position in shares of Vornado Realty Trust by 16.4% in the 1st 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 during the period. Vident Advisory LLC grew its position in shares of Vornado Realty Trust by 4.7% in the 4th 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 during the period. Arizona State Retirement System grew its position in shares of Vornado Realty Trust by 0.8% in the 4th quarter. Arizona State Retirement System now owns 46,995 shares of the real estate investment trust's stock valued at $1,976,000 after acquiring an additional 373 shares during the period. Finally, Mariner LLC boosted its holdings in shares of Vornado Realty Trust by 0.9% during the 4th quarter. Mariner LLC now owns 45,274 shares of the real estate investment trust's stock worth $1,903,000 after buying an additional 404 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VNO. Morgan Stanley lifted their target price on shares of Vornado Realty Trust from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Piper Sandler lifted 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. Wall Street Zen raised shares of Vornado Realty Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Truist Financial lifted their target price on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Finally, Barclays lifted their target price on shares of Vornado Realty Trust from $31.00 to $32.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $37.91.

Insider Transactions at Vornado Realty Trust

In related news, EVP Haim Chera sold 20,000 shares of the company's stock in a transaction that occurred 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 in the company, valued at $1,139,400. This represents a 40.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.42% of the stock is currently owned by corporate insiders.

Vornado Realty Trust Price Performance

Shares of NYSE:VNO traded down $0.38 during midday trading on Monday, hitting $37.38. The stock had a trading volume of 1,505,355 shares, compared to its average volume of 1,614,932. The company's 50-day moving average price is $38.62 and its 200-day moving average price is $38.93. The company has a market capitalization of $7.18 billion, a P/E ratio of 71.89, a price-to-earnings-growth ratio of 13.87 and a beta of 1.50. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 1.81. Vornado Realty Trust has a fifty-two week low of $25.87 and a fifty-two week high of $46.63.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $0.63 EPS for the quarter, beating the consensus estimate of $0.52 by $0.11. The company had revenue of $461.58 million during the quarter, compared to analysts' expectations of $452.68 million. Vornado Realty Trust had a net margin of 9.17% and a return on equity of 3.83%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. As a group, equities research analysts predict that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Vornado Realty Trust Company Profile

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