Illinois Municipal Retirement Fund Raises Stock Position in Vornado Realty Trust (NYSE:VNO)

Illinois Municipal Retirement Fund raised its stake in Vornado Realty Trust (NYSE:VNO - Free Report) by 66.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,831 shares of the real estate investment trust's stock after buying an additional 17,920 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Vornado Realty Trust were worth $1,658,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in VNO. Norges Bank purchased a new stake in shares of Vornado Realty Trust in the fourth quarter valued at about $729,073,000. Invesco Ltd. grew its holdings in shares of Vornado Realty Trust by 111.3% in the fourth quarter. Invesco Ltd. now owns 3,135,900 shares of the real estate investment trust's stock valued at $131,833,000 after purchasing an additional 1,651,819 shares during the period. Deutsche Bank AG grew its stake in shares of Vornado Realty Trust by 180.7% in the 4th quarter. Deutsche Bank AG now owns 2,435,127 shares of the real estate investment trust's stock valued at $102,373,000 after buying an additional 1,567,742 shares during the period. Northern Trust Corp grew its stake in shares of Vornado Realty Trust by 98.3% in the 4th quarter. Northern Trust Corp now owns 2,741,129 shares of the real estate investment trust's stock valued at $115,237,000 after buying an additional 1,358,498 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Vornado Realty Trust by 7.1% in the 4th quarter. Franklin Resources Inc. now owns 11,899,686 shares of the real estate investment trust's stock valued at $500,263,000 after buying an additional 792,100 shares during the period. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VNO has been the subject of several analyst reports. Barclays increased their price objective on Vornado Realty Trust from $31.00 to $32.00 and gave the stock an "underweight" rating in a research report on Friday, March 14th. Truist Financial increased their price target on Vornado Realty Trust from $37.00 to $38.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Morgan Stanley increased their price target on 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 increased their price target on Vornado Realty Trust from $38.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Vornado Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. 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 company. Based on data from MarketBeat.com, Vornado Realty Trust presently has an average rating of "Hold" and a consensus price target of $37.91.

Vornado Realty Trust Stock Up 0.2%

Shares of NYSE VNO traded up $0.09 during midday trading on Wednesday, hitting $38.29. The company's stock had a trading volume of 1,684,579 shares, compared to its average volume of 1,613,532. 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 1 year low of $25.67 and a 1 year high of $46.63. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 73.64, a price-to-earnings-growth ratio of 14.06 and a beta of 1.50. The business's fifty day simple moving average is $38.47 and its two-hundred day simple moving average is $39.05.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $461.58 million during the quarter, compared to analysts' expectations of $452.68 million. During the same quarter last year, the business posted $0.55 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts predict that Vornado Realty Trust will post 2.31 EPS for the current year.

Insider Activity

In other news, EVP Haim Chera sold 20,000 shares of Vornado Realty Trust stock in a transaction 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 sale, the executive vice president directly owned 30,000 shares of the company's stock, valued at approximately $1,139,400. The trade was a 40.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.42% of the company's stock.

About Vornado Realty Trust

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