Private Management Group Inc. Reduces Stock Position in Vornado Realty Trust (NYSE:VNO)

Private Management Group Inc. decreased its holdings in Vornado Realty Trust (NYSE:VNO) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 982,324 shares of the real estate investment trust’s stock after selling 237,221 shares during the period. Private Management Group Inc. owned about 0.52% of Vornado Realty Trust worth $27,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Vornado Realty Trust by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock worth $554,726,000 after buying an additional 116,504 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Vornado Realty Trust in the third quarter valued at approximately $132,326,000. Deutsche Bank AG grew its stake in Vornado Realty Trust by 141.9% in the third quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock worth $96,128,000 after purchasing an additional 2,486,439 shares in the last quarter. Earnest Partners LLC raised its position in Vornado Realty Trust by 3.5% during the 3rd quarter. Earnest Partners LLC now owns 2,603,909 shares of the real estate investment trust’s stock valued at $59,057,000 after purchasing an additional 89,067 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Vornado Realty Trust by 26.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,546,176 shares of the real estate investment trust’s stock valued at $57,747,000 after purchasing an additional 527,229 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Stock Up 2.4 %

Vornado Realty Trust stock traded up $0.63 during midday trading on Tuesday, reaching $27.22. The company’s stock had a trading volume of 1,289,957 shares, compared to its average volume of 2,242,708. The company has a debt-to-equity ratio of 1.82, a current ratio of 4.95 and a quick ratio of 4.95. The stock has a market capitalization of $5.18 billion, a P/E ratio of 119.30 and a beta of 1.57. The stock’s 50-day simple moving average is $26.55 and its 200-day simple moving average is $25.62. Vornado Realty Trust has a 52-week low of $12.31 and a 52-week high of $32.21.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.55). The company had revenue of $441.89 million during the quarter, compared to analysts’ expectations of $453.82 million. Vornado Realty Trust had a net margin of 5.82% and a return on equity of 3.22%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. On average, sell-side analysts expect that Vornado Realty Trust will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

VNO has been the subject of several recent research reports. Evercore ISI decreased their price objective on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a report on Thursday, February 15th. TheStreet raised shares of Vornado Realty Trust from a “d+” rating to a “c-” rating in a report on Thursday, December 28th. Barclays began coverage on Vornado Realty Trust in a report on Wednesday, March 27th. They set an “underweight” rating and a $22.00 target price for the company. The Goldman Sachs Group cut their price target on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 22nd. Finally, Morgan Stanley upgraded Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $24.00 to $26.00 in a research note on Thursday, March 28th. Six research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $24.80.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.