Waterfront Capital Partners LLC Invests $12.50 Million in Vornado Realty Trust (NYSE:VNO)

Waterfront Capital Partners LLC purchased a new stake in shares of Vornado Realty Trust (NYSE:VNO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 317,170 shares of the real estate investment trust’s stock, valued at approximately $12,496,000. Vornado Realty Trust accounts for approximately 1.7% of Waterfront Capital Partners LLC’s investment portfolio, making the stock its 20th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of VNO. Principal Financial Group Inc. grew its stake in shares of Vornado Realty Trust by 428.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,820,958 shares of the real estate investment trust’s stock valued at $111,146,000 after acquiring an additional 2,286,997 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Vornado Realty Trust by 381.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,205,383 shares of the real estate investment trust’s stock worth $47,492,000 after purchasing an additional 955,071 shares during the period. Bank of Montreal Can raised its position in shares of Vornado Realty Trust by 2,229.1% during the 2nd quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock valued at $22,502,000 after purchasing an additional 818,838 shares during the period. Duff & Phelps Investment Management Co. increased its stake in Vornado Realty Trust by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after buying an additional 612,765 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Vornado Realty Trust by 324.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock worth $20,292,000 after buying an additional 590,176 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VNO shares. Evercore ISI increased their price target on Vornado Realty Trust from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a research note on Tuesday, November 12th. Barclays lifted their price target on Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Piper Sandler reiterated a “neutral” rating and issued a $44.00 price target (up previously from $30.00) on shares of Vornado Realty Trust in a research report on Friday, October 18th. Finally, Scotiabank lifted their price target on Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.68.

Vornado Realty Trust Stock Performance

Shares of VNO stock opened at $43.43 on Friday. The business’s fifty day simple moving average is $41.49 and its 200-day simple moving average is $33.23. The company has a market cap of $8.28 billion, a PE ratio of -149.76 and a beta of 1.64. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 1.93. Vornado Realty Trust has a 12-month low of $21.16 and a 12-month high of $46.63.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). The business had revenue of $443.26 million for the quarter, compared to analyst estimates of $445.07 million. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. Analysts expect that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.

Vornado Realty Trust Profile

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