State of New Jersey Common Pension Fund D lowered its stake in Vornado Realty Trust (NYSE:VNO) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,400 shares of the real estate investment trust’s stock after selling 5,000 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.12% of Vornado Realty Trust worth $16,089,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of VNO. Point72 Hong Kong Ltd bought a new position in shares of Vornado Realty Trust in the second quarter worth about $122,000. Federated Investors Inc. PA lifted its holdings in shares of Vornado Realty Trust by 5,125.0% in the second quarter. Federated Investors Inc. PA now owns 2,090 shares of the real estate investment trust’s stock worth $154,000 after acquiring an additional 2,050 shares during the last quarter. KAMES CAPITAL plc bought a new position in shares of Vornado Realty Trust in the third quarter worth about $186,000. Linscomb & Williams Inc. bought a new position in shares of Vornado Realty Trust in the second quarter worth about $211,000. Finally, Quantum Capital Management bought a new position in shares of Vornado Realty Trust in the second quarter worth about $213,000. 78.92% of the stock is owned by hedge funds and other institutional investors.
VNO has been the subject of a number of research reports. ValuEngine cut shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Zacks Investment Research raised shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Monday, October 1st. SunTrust Banks increased their target price on shares of Vornado Realty Trust to $81.00 and gave the stock an “average” rating in a report on Wednesday, June 27th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price objective on shares of Vornado Realty Trust in a report on Monday, July 30th. Finally, Scotiabank assumed coverage on shares of Vornado Realty Trust in a report on Tuesday. They issued an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $79.78.
Shares of NYSE VNO opened at $68.32 on Friday. The company has a market capitalization of $13.00 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 8.09 and a beta of 0.91. Vornado Realty Trust has a 1 year low of $64.13 and a 1 year high of $79.56. The company has a debt-to-equity ratio of 2.41, a current ratio of 5.62 and a quick ratio of 5.62.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $541.80 million during the quarter, compared to the consensus estimate of $539.78 million. Vornado Realty Trust had a net margin of 6.91% and a return on equity of 5.16%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. Analysts forecast that Vornado Realty Trust will post 3.93 earnings per share for the current fiscal year.
About Vornado Realty Trust
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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