Lord Abbett & CO. LLC trimmed its position in shares of Vornado Realty Trust (NYSE:VNO) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,191,923 shares of the real estate investment trust’s stock after selling 43,950 shares during the period. Lord Abbett & CO. LLC owned about 0.63% of Vornado Realty Trust worth $111,921,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in Vornado Realty Trust by 62.1% during the 2nd quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 419 shares during the last quarter. Sun Life Financial INC boosted its position in Vornado Realty Trust by 13,866.7% in the 2nd quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 1,248 shares during the period. Perigon Wealth Management LLC purchased a new stake in Vornado Realty Trust in the 1st quarter valued at about $139,000. Exane Asset Management purchased a new stake in Vornado Realty Trust in the 2nd quarter valued at about $187,000. Finally, Global X Management Co. LLC boosted its position in Vornado Realty Trust by 44.6% in the 1st quarter. Global X Management Co. LLC now owns 2,041 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 630 shares during the period. Institutional investors own 85.94% of the company’s stock.
Several equities research analysts have issued reports on the stock. Citigroup Inc. lowered their price objective on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 19th. BidaskClub raised shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Bank of America Corporation reissued a “buy” rating and issued a $113.00 price objective (up from $112.00) on shares of Vornado Realty Trust in a research report on Thursday, June 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $81.00 price target on shares of Vornado Realty Trust in a research report on Saturday, July 22nd. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $87.00 price target (up previously from $86.00) on shares of Vornado Realty Trust in a research report on Wednesday, August 2nd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Vornado Realty Trust presently has a consensus rating of “Buy” and an average price target of $96.27.
Vornado Realty Trust (NYSE:VNO) traded down 0.88% during midday trading on Monday, reaching $79.19. 337,231 shares of the company were exchanged. Vornado Realty Trust has a 52 week low of $69.81 and a 52 week high of $90.32. The firm has a 50-day moving average price of $75.98 and a 200-day moving average price of $77.06. The company has a market capitalization of $15.00 billion, a PE ratio of 17.10 and a beta of 1.00.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. The company had revenue of $626.04 million during the quarter, compared to the consensus estimate of $633.19 million. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts anticipate that Vornado Realty Trust will post $1.25 earnings per share for the current fiscal year.
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Vornado Realty Trust Profile
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.
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