Massachusetts Financial Services Co. MA Buys New Stake in Vornado Realty Trust (NYSE:VNO)

Massachusetts Financial Services Co. MA acquired a new position in Vornado Realty Trust (NYSE:VNO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 64,385 shares of the real estate investment trust's stock, valued at approximately $1,819,000.

A number of other institutional investors have also recently made changes to their positions in VNO. Kemnay Advisory Services Inc. acquired a new stake in shares of Vornado Realty Trust in the 3rd quarter worth $132,326,000. Deutsche Bank AG lifted its position in Vornado Realty Trust by 141.9% during the 3rd quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust's stock worth $96,128,000 after acquiring an additional 2,486,439 shares during the period. Rush Island Management LP acquired a new stake in Vornado Realty Trust during the 3rd quarter worth about $27,901,000. Charles Schwab Investment Management Inc. lifted its position in Vornado Realty Trust by 26.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,546,176 shares of the real estate investment trust's stock worth $57,747,000 after acquiring an additional 527,229 shares during the period. Finally, Tudor Investment Corp Et Al lifted its position in Vornado Realty Trust by 1,382.3% during the 3rd quarter. Tudor Investment Corp Et Al now owns 450,749 shares of the real estate investment trust's stock worth $10,223,000 after acquiring an additional 420,340 shares during the period. Institutional investors and hedge funds own 90.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VNO. Morgan Stanley raised Vornado Realty Trust from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $24.00 to $26.00 in a research report on Thursday, March 28th. The Goldman Sachs Group lowered their price target on Vornado Realty Trust from $24.00 to $21.00 and set a "sell" rating for the company in a research report on Thursday, February 22nd. Scotiabank lowered their price target on Vornado Realty Trust from $24.00 to $23.00 and set a "sector perform" rating for the company in a research report on Thursday, May 16th. Piper Sandler reduced their price objective on Vornado Realty Trust from $25.00 to $22.00 and set an "underweight" rating for the company in a research note on Monday, May 13th. Finally, Evercore ISI reduced their price objective on Vornado Realty Trust from $28.00 to $26.00 and set an "underperform" rating for the company in a research note on Thursday, February 15th. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $24.55.

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock traded up $0.20 on Tuesday, hitting $24.60. 828,425 shares of the company were exchanged, compared to its average volume of 2,163,039. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 163.98 and a beta of 1.57. The company has a 50-day moving average price of $26.43 and a 200 day moving average price of $26.30. Vornado Realty Trust has a 1-year low of $12.82 and a 1-year high of $32.21. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.81.

About Vornado Realty Trust

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.