Exane Asset Management bought a new stake in Vornado Realty Trust (NYSE:VNO) during the second quarter, Holdings Channel reports. The firm bought 1,995 shares of the real estate investment trust’s stock, valued at approximately $187,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd raised its position in shares of Vornado Realty Trust by 62.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,300 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 500 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in Vornado Realty Trust during the first quarter worth $139,000. Ladenburg Thalmann Financial Services Inc. raised its position in Vornado Realty Trust by 1.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,404 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 20 shares during the period. Advisors Asset Management Inc. raised its position in Vornado Realty Trust by 98.9% in the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 741 shares during the period. Finally, Global X Management Co. LLC raised its position in Vornado Realty Trust by 44.6% in the first quarter. Global X Management Co. LLC now owns 2,041 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 630 shares during the period. 87.55% of the stock is currently owned by institutional investors and hedge funds.
Vornado Realty Trust (VNO) traded up 2.32% on Wednesday, hitting $79.39. 800,520 shares of the company were exchanged. The stock has a market capitalization of $15.03 billion, a P/E ratio of 15.33 and a beta of 0.96. The company has a 50 day moving average price of $75.88 and a 200-day moving average price of $81.07. Vornado Realty Trust has a 52 week low of $69.81 and a 52 week high of $90.32.
Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, May 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.64. The firm had revenue of $620.85 million for the quarter, compared to the consensus estimate of $642 million. Vornado Realty Trust had a net margin of 42.35% and a return on equity of 6.84%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.61) EPS. On average, equities analysts expect that Vornado Realty Trust will post $1.49 earnings per share for the current fiscal year.
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A number of research firms have weighed in on VNO. BidaskClub raised shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Citigroup Inc. dropped their price objective on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays PLC dropped their price objective on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Bank of America Corporation reaffirmed a “buy” rating and issued a $113.00 price objective (up from $112.00) on shares of Vornado Realty Trust in a research note on Thursday, June 22nd. Finally, Zacks Investment Research lowered shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $104.88.
About Vornado Realty Trust
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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