Vestcor Inc Takes $4.57 Million Position in Vornado Realty Trust $VNO

Vestcor Inc purchased a new position in shares of Vornado Realty Trust (NYSE:VNO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 112,800 shares of the real estate investment trust’s stock, valued at approximately $4,572,000. Vestcor Inc owned approximately 0.06% of Vornado Realty Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of VNO. Spire Wealth Management lifted its holdings in shares of Vornado Realty Trust by 19.6% during the 3rd quarter. Spire Wealth Management now owns 1,680 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 275 shares during the period. Bfsg LLC increased its stake in Vornado Realty Trust by 5.9% in the third quarter. Bfsg LLC now owns 5,036 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 280 shares during the period. ProShare Advisors LLC increased its stake in Vornado Realty Trust by 4.7% in the second quarter. ProShare Advisors LLC now owns 7,403 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 330 shares during the period. Arjuna Capital raised its position in Vornado Realty Trust by 5.4% in the third quarter. Arjuna Capital now owns 6,942 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 358 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Vornado Realty Trust by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 39,320 shares of the real estate investment trust’s stock worth $1,504,000 after purchasing an additional 391 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Stock Performance

NYSE VNO opened at $26.98 on Tuesday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 1.44 and a beta of 1.53. The company has a 50 day moving average of $31.12 and a 200-day moving average of $35.36. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 1.44. Vornado Realty Trust has a 1-year low of $25.71 and a 1-year high of $43.37.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, February 9th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The firm had revenue of $453.71 million during the quarter, compared to the consensus estimate of $440.23 million. Vornado Realty Trust had a net margin of 49.99% and a return on equity of 18.64%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. On average, equities analysts forecast that Vornado Realty Trust will post 2.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VNO. Scotiabank dropped their target price on Vornado Realty Trust from $36.00 to $32.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Mizuho decreased their price target on Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vornado Realty Trust in a research report on Monday, December 29th. Evercore dropped their price objective on Vornado Realty Trust from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Finally, Piper Sandler cut their price objective on Vornado Realty Trust from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $37.00.

About Vornado Realty Trust

Vornado Realty Trust is a self?administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long?term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street?level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.