Vornado Realty Trust (NYSE:VNO) Shares Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Vornado Realty Trust (NYSE:VNO) by 16.0%, owning 357,108 shares worth approximately $13.21 million as of the end of Q1.
• In a recent insider transaction, EVP Haim Chera sold 20,000 shares of Vornado, reducing his position by 40% and indicating potential confidence issues in the stock.
• Vornado reported Q1 earnings of $0.63 per share, exceeding the consensus estimate by $0.11, while revenue of $461.58 million was up 5.8% year-over-year.

Allianz Asset Management GmbH increased its stake in Vornado Realty Trust (NYSE:VNO - Free Report) by 16.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 357,108 shares of the real estate investment trust's stock after acquiring an additional 49,286 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.19% of Vornado Realty Trust worth $13,209,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FIL Ltd acquired a new position in shares of Vornado Realty Trust in the 4th quarter worth $49,000. UMB Bank n.a. grew its holdings in shares of Vornado Realty Trust by 67.7% in the 1st quarter. UMB Bank n.a. now owns 1,295 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 523 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Vornado Realty Trust in the 1st quarter worth $75,000. Quarry LP grew its holdings in shares of Vornado Realty Trust by 55.4% in the 4th quarter. Quarry LP now owns 2,135 shares of the real estate investment trust's stock worth $90,000 after acquiring an additional 761 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of 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 buying an additional 312 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Haim Chera sold 20,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 30,000 shares in the company, valued at approximately $1,139,400. This represents a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.42% of the stock is currently owned by insiders.

Vornado Realty Trust Stock Performance

Shares of VNO stock opened at $39.94 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 4.10 and a quick ratio of 4.10. Vornado Realty Trust has a fifty-two week low of $26.19 and a fifty-two week high of $46.63. The stock's 50-day moving average is $38.85 and its two-hundred day moving average is $38.64. The firm has a market cap of $7.67 billion, a P/E ratio of 76.80, a PEG ratio of 14.31 and a beta of 1.50.

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 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. Vornado Realty Trust had a return on equity of 3.83% and a net margin of 9.17%. The company had revenue of $461.58 million for the quarter, compared to analyst estimates of $452.68 million. During the same period in the prior year, the firm posted $0.55 EPS. The business's revenue was up 5.8% compared to the same quarter last year. Analysts predict that Vornado Realty Trust will post 2.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VNO has been the topic of several recent analyst reports. Piper Sandler upped their price target on Vornado Realty Trust from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Scotiabank upped their price target on 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. Mizuho dropped their price target 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. Wall Street Zen raised Vornado Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Truist Financial upped their price target on Vornado Realty Trust from $37.00 to $38.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $38.09.

Vornado Realty Trust Company Profile

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

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