Vornado Realty Trust $VNO Stock Holdings Boosted by Private Management Group Inc.

Key Points

• Private Management Group increased its Vornado stake 3.6% in the third quarter to 1.36 million shares, valued at about $46 million. Institutional investors and hedge funds own roughly 90% of the stock.
• Analysts’ consensus rating is Hold, with an average price target of $38.91; ratings are split among four Buys, five Holds, and four Sells.
• Vornado reported a quarterly loss of $0.25 per share, missing analysts’ $0.64 EPS estimate, while revenue of $467.7 million also came in below forecasts.

Private Management Group Inc. lifted its stake in Vornado Realty Trust (NYSE:VNO - Free Report) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,357,376 shares of the real estate investment trust's stock after purchasing an additional 47,797 shares during the quarter. Vornado Realty Trust accounts for 1.2% of Private Management Group Inc.'s portfolio, making the stock its 10th largest position. Private Management Group Inc. owned about 0.73% of Vornado Realty Trust worth $45,988,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Vornado Realty Trust in the 2nd quarter worth approximately $8,204,000. Wellington Management Group LLP grew its holdings in shares of Vornado Realty Trust by 440.6% during the 2nd quarter. Wellington Management Group LLP now owns 598,395 shares of the real estate investment trust's stock valued at $23,517,000 after acquiring an additional 487,710 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Vornado Realty Trust during the 2nd quarter valued at $10,283,000. Squarepoint Ops LLC grew its holdings in shares of Vornado Realty Trust by 65.9% during the 2nd quarter. Squarepoint Ops LLC now owns 133,928 shares of the real estate investment trust's stock valued at $5,263,000 after acquiring an additional 53,208 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Vornado Realty Trust by 5.7% during the first quarter. Bank of America Corp DE now owns 1,266,476 shares of the real estate investment trust's stock worth $32,916,000 after acquiring an additional 68,267 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vornado Realty Trust

In other news, EVP Haim Chera sold 90,000 shares of the firm's stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total value of $3,060,900.00. Following the sale, the executive vice president directly owned 110,000 shares of the company's stock, valued at approximately $3,741,100. This trade represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

VNO has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Vornado Realty Trust from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Tuesday, September 15th. Citigroup raised their price target on Vornado Realty Trust from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Vornado Realty Trust in a report on Monday, November 2nd. Piper Sandler reduced their price target on Vornado Realty Trust from $44.00 to $37.00 and set a "neutral" rating for the company in a report on Monday, October 12th. Finally, Truist Financial lowered their price target on Vornado Realty Trust from $39.00 to $35.00 and set a "hold" rating for the company in a research note on Monday, September 21st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Vornado Realty Trust currently has an average rating of "Hold" and a consensus target price of $38.91.

Vornado Realty Trust Trading Up 2.4%

NYSE:VNO opened at $36.68 on Tuesday. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $41.60. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.71 and a beta of 1.62. The company has a quick ratio of 5.24, a current ratio of 4.44 and a debt-to-equity ratio of 1.54. The company's 50 day moving average is $34.58 and its 200-day moving average is $33.46.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its earnings results on Monday, November 2nd. The real estate investment trust reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.89). The firm had revenue of $467.66 million during the quarter, compared to analyst estimates of $477.39 million. Vornado Realty Trust had a net margin of 0.50% and a return on equity of 0.19%. The business's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. Equities analysts anticipate that Vornado Realty Trust will post 2.47 EPS for the current year.

Vornado Realty Trust Profile

Vornado Realty Trust is a real estate investment trust focused primarily on owning, managing and redeveloping commercial properties. Its portfolio is concentrated in New York City, particularly Manhattan, and includes office buildings and retail properties.

The company has also held properties in other major U.S. markets, including Washington, DC, and San Francisco. Vornado's activities include leasing space to businesses and retailers, operating its properties, and pursuing redevelopment projects to update and reposition its real estate.

Vornado is led by Steven Roth, its chairman and chief executive officer.

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