Adelante Capital Management LLC Lowers Holdings in Vornado Realty Trust $VNO

Key Points

• Adelante Capital Management LLC reduced its stake in Vornado Realty Trust by 3.1%, now holding approximately 0.15% of the company, worth about $10.6 million.
• Several other hedge funds have increased their holdings, including Twin Tree Management LP, which boosted its stake by 102.1%.
• Vornado Realty Trust reported earnings of $0.56 per share, surpassing analysts' estimates, despite a 2.0% decline in revenue year-over-year.

Adelante Capital Management LLC decreased its holdings in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 287,797 shares of the real estate investment trust's stock after selling 9,261 shares during the period. Adelante Capital Management LLC owned approximately 0.15% of Vornado Realty Trust worth $10,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Twin Tree Management LP grew its stake in Vornado Realty Trust by 102.1% in the 1st quarter. Twin Tree Management LP now owns 785 shares of the real estate investment trust's stock worth $29,000 after buying an additional 38,585 shares in the last quarter. UMB Bank n.a. increased its stake 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 valued at $48,000 after acquiring an additional 523 shares during the last quarter. Assetmark Inc. increased its stake 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 valued at $68,000 after acquiring an additional 347 shares during the last quarter. Friedenthal Financial purchased a new stake in Vornado Realty Trust during the first quarter valued at about $75,000. Finally, Fifth Third Bancorp lifted its stake in 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 worth $82,000 after purchasing an additional 312 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Stock Up 1.3%

VNO traded up $0.52 on Wednesday, hitting $40.42. The company had a trading volume of 1,180,430 shares, compared to its average volume of 1,496,929. The stock has a fifty day simple moving average of $38.28 and a 200-day simple moving average of $37.88. 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 firm has a market capitalization of $7.76 billion, a P/E ratio of 10.00, a P/E/G ratio of 5.18 and a beta of 1.58. Vornado Realty Trust has a 52-week low of $29.68 and a 52-week high of $46.63.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $441.44 million for the quarter, compared to analyst estimates of $468.79 million. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 19.64%. Vornado Realty Trust's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. As a group, equities analysts expect that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Insider Activity at Vornado Realty Trust

In other Vornado Realty Trust news, EVP Haim Chera sold 30,000 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $39.64, for a total value of $1,189,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.42% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on VNO shares. Mizuho dropped their target price on Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating for the company in a research report on Monday, July 14th. Evercore ISI decreased their price target on shares of Vornado Realty Trust from $45.00 to $44.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. 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. Scotiabank cut their price target on shares of Vornado Realty Trust from $45.00 to $40.00 and set a "sector perform" rating for the company in a research report on Thursday, August 28th. Finally, Bank of America decreased their price objective on Vornado Realty Trust from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $37.90.

About Vornado Realty Trust

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