Conning Inc. boosted its stake in shares of Vornado Realty Trust (NYSE:VNO) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 5,370 shares of the real estate investment trust’s stock after buying an additional 20 shares during the period. Conning Inc.’s holdings in Vornado Realty Trust were worth $538,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. RS Investment Management Co. LLC purchased a new stake in Vornado Realty Trust during the second quarter valued at about $8,523,000. Bank of Montreal Can bought a new stake in Vornado Realty Trust during the second quarter worth $3,944,000. Shell Asset Management Co. increased its stake in Vornado Realty Trust by 17.8% in the second quarter. Shell Asset Management Co. now owns 17,968 shares of the real estate investment trust’s stock worth $1,799,000 after buying an additional 2,713 shares during the last quarter. Sanders Morris Harris Inc. increased its stake in Vornado Realty Trust by 4.7% in the second quarter. Sanders Morris Harris Inc. now owns 16,182 shares of the real estate investment trust’s stock worth $1,621,000 after buying an additional 720 shares during the last quarter. Finally, Oakbrook Investments LLC increased its stake in Vornado Realty Trust by 11.1% in the second quarter. Oakbrook Investments LLC now owns 10,994 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.
Shares of Vornado Realty Trust (NYSE:VNO) traded down 0.32% during trading on Friday, reaching $101.21. The company’s stock had a trading volume of 733,134 shares. The stock has a market cap of $19.11 billion, a P/E ratio of 35.85 and a beta of 0.96. Vornado Realty Trust has a 12-month low of $78.91 and a 12-month high of $108.69. The stock’s 50-day moving average is $102.13 and its 200-day moving average is $98.66.
Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, August 1st. The real estate investment trust reported $1.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by $0.04. Vornado Realty Trust had a return on equity of 5.24% and a net margin of 24.56%. The firm earned $621.71 million during the quarter, compared to analysts’ expectations of $621.30 million. During the same period in the prior year, the business earned $1.71 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Vornado Realty Trust will post $4.87 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the company. Barclays PLC reiterated an “equal weight” rating and set a $103.00 target price on shares of Vornado Realty Trust in a research report on Thursday, June 23rd. Zacks Investment Research downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Vetr downgraded Vornado Realty Trust from a “strong-buy” rating to a “buy” rating and set a $108.00 target price for the company. in a research report on Wednesday, June 8th. TheStreet upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Finally, Citigroup Inc. upped their target price on Vornado Realty Trust from $106.00 to $116.50 and gave the company a “buy” rating in a research report on Thursday, July 7th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $105.93.
In other news, Director Russell B. Wight, Jr. bought 2,000 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was acquired at an average cost of $102.53 per share, with a total value of $205,060.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.72% of the stock is owned by company insiders.
About Vornado Realty Trust
Vornado Realty Trust is a fully integrated real estate investment trust (REIT). The Company conducts its business through, and its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). It is the sole general partner of, and owns common limited partnership interest in the Operating Partnership.
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