Vornado Realty Trust (NYSE:VNO) Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Vornado Realty Trust by 30.8% during the first quarter, owning approximately 1,122,428 shares valued at $41.5 million.
• Multiple institutional investors raised their positions in Vornado Realty Trust, with Northern Trust Corp. leading the way by increasing their holdings by 98.3%.
• Vornado Realty Trust reported earnings per share (EPS) of $0.56 for the quarter, exceeding analyst expectations, while revenue decreased by 2.0% year-over-year.

Russell Investments Group Ltd. grew its position in Vornado Realty Trust (NYSE:VNO - Free Report) by 30.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,122,428 shares of the real estate investment trust's stock after purchasing an additional 264,626 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.58% of Vornado Realty Trust worth $41,518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of VNO. Envestnet Asset Management Inc. raised its holdings in shares of Vornado Realty Trust by 5.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 284,926 shares of the real estate investment trust's stock valued at $11,978,000 after purchasing an additional 14,843 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Vornado Realty Trust by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 77,058 shares of the real estate investment trust's stock valued at $3,240,000 after buying an additional 480 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Vornado Realty Trust by 56.7% in the 4th quarter. Sterling Capital Management LLC now owns 10,471 shares of the real estate investment trust's stock valued at $440,000 after buying an additional 3,790 shares during the last quarter. Townsquare Capital LLC purchased a new position in shares of Vornado Realty Trust in the 4th quarter valued at $210,000. Finally, Mariner LLC grew its position in shares of Vornado Realty Trust by 0.9% in the 4th quarter. Mariner LLC now owns 45,274 shares of the real estate investment trust's stock valued at $1,903,000 after buying an additional 404 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Stock Performance

Shares of VNO stock traded up $0.12 during mid-day trading on Friday, hitting $37.17. The stock had a trading volume of 849,774 shares, compared to its average volume of 1,431,325. Vornado Realty Trust has a fifty-two week low of $29.68 and a fifty-two week high of $46.63. The firm has a market cap of $7.14 billion, a PE ratio of 9.20, a PEG ratio of 13.46 and a beta of 1.56. The company has a debt-to-equity ratio of 1.40, a current ratio of 6.82 and a quick ratio of 6.82. The company's 50-day simple moving average is $38.70 and its 200-day simple moving average is $38.31.

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 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 during the quarter, compared to analysts' expectations of $468.79 million. During the same quarter last year, the business earned $0.57 EPS. The business's revenue was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Insider Activity at Vornado Realty Trust

In other news, EVP Haim Chera sold 20,000 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $37.98, for a total value of $759,600.00. Following the completion of the sale, the executive vice president owned 30,000 shares in the company, valued at approximately $1,139,400. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.42% of the company's stock.

Analyst Upgrades and Downgrades

VNO has been the topic of a number of recent analyst reports. Mizuho dropped their target price 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. Evercore ISI dropped their target price on shares of Vornado Realty Trust from $45.00 to $44.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Scotiabank increased their target price on shares of Vornado Realty Trust from $42.00 to $45.00 and gave the company a "sector perform" rating in a research report on Monday, July 14th. Truist Financial increased their target price 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. Finally, 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 report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $37.80.

Vornado Realty Trust Company Profile

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