State Treasurer State of Michigan raised its stake in Vornado Realty Trust (NYSE:VNO) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,650 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Vornado Realty Trust were worth $5,319,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC raised its position in shares of Vornado Realty Trust by 0.8% in the first quarter. Janney Montgomery Scott LLC now owns 2,069 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 16 shares during the last quarter. 1st Global Advisors Inc. raised its position in shares of Vornado Realty Trust by 0.6% in the first quarter. 1st Global Advisors Inc. now owns 3,049 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 19 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Vornado Realty Trust by 0.8% in the first quarter. Cleararc Capital Inc. now owns 4,198 shares of the real estate investment trust’s stock valued at $421,000 after buying an additional 35 shares during the last quarter. Courier Capital LLC raised its position in shares of Vornado Realty Trust by 1.6% in the first quarter. Courier Capital LLC now owns 3,592 shares of the real estate investment trust’s stock valued at $360,000 after buying an additional 56 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Vornado Realty Trust by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 5,550 shares of the real estate investment trust’s stock valued at $557,000 after buying an additional 90 shares during the last quarter. Institutional investors own 87.57% of the company’s stock.
Vornado Realty Trust (VNO) opened at 78.69 on Monday. The company has a 50 day moving average of $76.18 and a 200-day moving average of $81.05. The stock has a market cap of $14.90 billion, a P/E ratio of 15.20 and a beta of 0.96. Vornado Realty Trust has a 12-month low of $77.26 and a 12-month high of $111.72.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.64. Vornado Realty Trust had a net margin of 42.35% and a return on equity of 6.84%. The company had revenue of $620.85 million for the quarter, compared to the consensus estimate of $642 million. During the same quarter in the prior year, the company earned ($0.61) EPS. Vornado Realty Trust’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that Vornado Realty Trust will post $1.19 earnings per share for the current year.
VNO has been the subject of a number of analyst reports. BidaskClub upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Evercore ISI reiterated an “outperform” rating and issued a $86.00 price target (down from $106.00) on shares of Vornado Realty Trust in a research note on Friday. Citigroup Inc. reduced their price target on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, July 19th. Bank of America Corporation reiterated a “buy” rating and issued a $113.00 price target (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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $100.63.
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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