Brooklyn Investment Group Buys 28,515 Shares of Vornado Realty Trust $VNO

Key Points

• Brooklyn Investment Group increased its stake in Vornado Realty Trust by 1,354.6%, acquiring a total of 30,620 shares worth approximately $1.13 million.
• Vornado Realty Trust reported earnings of $0.56 per share for its latest quarter, surpassing expectations, but its revenue of $441.44 million was below analysts' forecasts of $468.79 million.
• The stock has a recent market capitalization of $7.14 billion, with a current price of $37.17 and a price-to-earnings ratio of 9.20.

Brooklyn Investment Group raised its stake in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 1,354.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,620 shares of the real estate investment trust's stock after buying an additional 28,515 shares during the quarter. Brooklyn Investment Group's holdings in Vornado Realty Trust were worth $1,133,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of Vornado Realty Trust by 1.4% during the 1st quarter. Signaturefd LLC now owns 20,482 shares of the real estate investment trust's stock valued at $758,000 after purchasing an additional 282 shares in the last quarter. Fifth Third Bancorp grew its position in Vornado Realty Trust by 16.4% during the 1st 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 in the last quarter. Vident Advisory LLC raised its position in Vornado Realty Trust by 4.7% during the fourth quarter. Vident Advisory LLC now owns 7,667 shares of the real estate investment trust's stock valued at $322,000 after buying an additional 344 shares during the period. Assetmark Inc. increased its holdings in shares of Vornado Realty Trust by 23.3% in the 1st quarter. Assetmark Inc. now owns 1,835 shares of the real estate investment trust's stock valued at $68,000 after purchasing an additional 347 shares during the period. Finally, State of Michigan Retirement System lifted its position in shares of Vornado Realty Trust by 1.0% in the first quarter. State of Michigan Retirement System now owns 39,700 shares of the real estate investment trust's stock worth $1,469,000 after purchasing an additional 400 shares in the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Haim Chera sold 20,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $37.98, for a total value of $759,600.00. Following the sale, the executive vice president owned 30,000 shares of the company's stock, valued at $1,139,400. The trade was a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VNO. Evercore ISI dropped their price objective 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. Truist Financial upped their price target on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Wall Street Zen upgraded Vornado Realty Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Mizuho reduced their price objective 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. Finally, Scotiabank upped their target price on Vornado Realty Trust from $42.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $37.80.

Vornado Realty Trust Stock Performance

Vornado Realty Trust stock traded down $0.4420 during trading hours on Wednesday, hitting $36.6880. The stock had a trading volume of 2,333,227 shares, compared to its average volume of 1,406,163. Vornado Realty Trust has a fifty-two week low of $29.68 and a fifty-two week high of $46.63. The company has a market cap of $7.05 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 13.40 and a beta of 1.56. The company has a 50-day moving average of $38.44 and a two-hundred day moving average of $38.22. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.40.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $441.44 million during the quarter, compared to analyst estimates of $468.79 million. Vornado Realty Trust had a return on equity of 19.64% and a net margin of 48.49%.Vornado Realty Trust's revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. On average, equities research analysts anticipate that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

About Vornado Realty Trust

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