Norges Bank Takes $489.92 Million Position in Vornado Realty Trust (NYSE:VNO)

Norges Bank purchased a new stake in shares of Vornado Realty Trust (NYSE:VNO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,342,373 shares of the real estate investment trust's stock, valued at approximately $489,922,000. Norges Bank owned about 9.11% of Vornado Realty Trust at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in VNO. Raymond James Financial Services Advisors Inc. lifted its holdings in Vornado Realty Trust by 46.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,430 shares of the real estate investment trust's stock valued at $373,000 after purchasing an additional 5,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Vornado Realty Trust by 13.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,093 shares of the real estate investment trust's stock valued at $274,000 after purchasing an additional 1,403 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Vornado Realty Trust during the 3rd quarter valued at $209,000. Allspring Global Investments Holdings LLC lifted its holdings in Vornado Realty Trust by 50.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 215,608 shares of the real estate investment trust's stock valued at $4,890,000 after purchasing an additional 72,750 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Vornado Realty Trust by 3.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 55,908 shares of the real estate investment trust's stock valued at $1,268,000 after purchasing an additional 1,637 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

Vornado Realty Trust Trading Down 1.3 %

Shares of Vornado Realty Trust stock traded down $0.33 during midday trading on Monday, reaching $24.40. The company had a trading volume of 1,005,752 shares, compared to its average volume of 2,176,798. The stock has a fifty day moving average price of $26.46 and a 200 day moving average price of $26.29. The company has a debt-to-equity ratio of 1.81, a current ratio of 4.97 and a quick ratio of 4.97. The firm has a market cap of $4.65 billion, a PE ratio of 162.68 and a beta of 1.57. Vornado Realty Trust has a fifty-two week low of $12.82 and a fifty-two week high of $32.21.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on VNO shares. Barclays started coverage on Vornado Realty Trust in a report on Wednesday, March 27th. They set an "underweight" rating and a $22.00 price target for the company. Morgan Stanley raised Vornado Realty Trust from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $24.00 to $26.00 in a report on Thursday, March 28th. The Goldman Sachs Group dropped their target price on Vornado Realty Trust from $24.00 to $21.00 and set a "sell" rating for the company in a report on Thursday, February 22nd. Compass Point dropped their target price on Vornado Realty Trust from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, May 8th. Finally, Scotiabank dropped their target price on Vornado Realty Trust from $24.00 to $23.00 and set a "sector perform" rating for the company in a report on Thursday. Six investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.55.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.