Raymond James Financial Inc. Sells 9,283 Shares of Vornado Realty Trust $VNO

Key Points

• Raymond James Financial Inc. has reduced its stake in Vornado Realty Trust by 3.4%, holding 260,863 shares worth approximately $9.65 million at the end of the first quarter.
• Analysts have mixed views on Vornado Realty Trust, with price targets ranging from $38.00 to $40.00 and a consensus average rating of "Hold".
• Vornado Realty Trust reported earnings of $0.56 EPS, surpassing expectations, but revenue was down 2.0% year-over-year, totaling $441.44 million.

Raymond James Financial Inc. lowered its stake in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,863 shares of the real estate investment trust's stock after selling 9,283 shares during the quarter. Raymond James Financial Inc. owned approximately 0.14% of Vornado Realty Trust worth $9,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Vornado Realty Trust by 67.7% in the first quarter. UMB Bank n.a. now owns 1,295 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 523 shares during the period. Assetmark Inc. boosted its holdings in Vornado Realty Trust by 23.3% in the first quarter. Assetmark Inc. now owns 1,835 shares of the real estate investment trust's stock worth $68,000 after purchasing an additional 347 shares during the period. Friedenthal Financial acquired a new position in Vornado Realty Trust in the first quarter worth $75,000. Fifth Third Bancorp boosted its holdings in Vornado Realty Trust by 16.4% in the first quarter. Fifth Third Bancorp now owns 2,214 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 312 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new position in Vornado Realty Trust in the fourth quarter worth $124,000. Institutional investors and hedge funds own 90.02% of the company's stock.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock traded down $0.12 during midday trading on Tuesday, hitting $37.91. The company's stock had a trading volume of 2,289,346 shares, compared to its average volume of 1,676,556. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.40. The stock's 50-day moving average price is $37.97 and its 200-day moving average price is $37.88. Vornado Realty Trust has a 12 month low of $29.68 and a 12 month high of $46.63. The company has a market capitalization of $7.28 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 4.84 and a beta of 1.58.

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 return on equity of 19.64% and a net margin of 48.49%.The company had revenue of $441.44 million for the quarter, compared to analysts' expectations of $468.79 million. During the same quarter in the previous year, the business posted $0.57 EPS. The business's revenue for the quarter was down 2.0% on a year-over-year basis. Analysts anticipate that Vornado Realty Trust will post 2.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on VNO. Truist Financial raised their target price on Vornado Realty Trust from $37.00 to $38.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Scotiabank cut their price objective on shares of Vornado Realty Trust from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 28th. Barclays lifted their price objective on shares of Vornado Realty Trust from $32.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, August 21st. Piper Sandler lifted their price objective on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Bank of America cut 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 research note on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $37.90.

Vornado Realty Trust Company Profile

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