Royal London Asset Management Ltd. bought a new stake in Vornado Realty Trust (NYSE:VNO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 75,278 shares of the real estate investment trust’s stock, valued at approximately $5,567,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new position in Vornado Realty Trust in the second quarter valued at about $325,000. BP PLC purchased a new position in Vornado Realty Trust in the second quarter valued at about $1,627,000. Toronto Dominion Bank grew its stake in Vornado Realty Trust by 25.5% in the first quarter. Toronto Dominion Bank now owns 93,056 shares of the real estate investment trust’s stock valued at $6,261,000 after purchasing an additional 18,899 shares in the last quarter. Virginia Retirement Systems ET AL grew its stake in Vornado Realty Trust by 14.5% in the second quarter. Virginia Retirement Systems ET AL now owns 59,936 shares of the real estate investment trust’s stock valued at $4,430,000 after purchasing an additional 7,600 shares in the last quarter. Finally, DnB Asset Management AS purchased a new position in Vornado Realty Trust in the second quarter valued at about $1,458,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.
A number of research analysts have commented on VNO shares. BMO Capital Markets restated a “buy” rating and issued a $85.00 target price on shares of Vornado Realty Trust in a research note on Monday, July 30th. Deutsche Bank decreased their price target on Vornado Realty Trust from $82.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, June 26th. Morgan Stanley decreased their price target on Vornado Realty Trust from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, June 14th. Evercore ISI upgraded Vornado Realty Trust from an “in-line” rating to an “outperform” rating in a research note on Monday, June 11th. Finally, ValuEngine upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Vornado Realty Trust currently has a consensus rating of “Buy” and a consensus target price of $80.44.
VNO opened at $71.96 on Thursday. The stock has a market cap of $13.99 billion, a PE ratio of 19.29, a P/E/G ratio of 8.82 and a beta of 0.91. Vornado Realty Trust has a 52-week low of $64.13 and a 52-week high of $80.30. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 2.41.
Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $541.80 million for the quarter, compared to the consensus estimate of $539.78 million. Vornado Realty Trust had a return on equity of 5.16% and a net margin of 6.91%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 EPS. equities research analysts forecast that Vornado Realty Trust will post 3.88 earnings per share for the current year.
Vornado Realty Trust Profile
Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2017.
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