Vornado Realty Trust (VNO) Position Cut by M&T Bank Corp
M&T Bank Corp lowered its holdings in shares of Vornado Realty Trust (NYSE:VNO) by 53.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,506 shares of the real estate investment trust’s stock after selling 14,179 shares during the quarter. M&T Bank Corp’s holdings in Vornado Realty Trust were worth $1,172,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of VNO. Bessemer Group Inc. grew its stake in Vornado Realty Trust by 62.1% in the 2nd quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 419 shares in the last quarter. Perigon Wealth Management LLC purchased a new position in shares of Vornado Realty Trust during the first quarter worth approximately $139,000. Advisors Asset Management Inc. increased its position in shares of Vornado Realty Trust by 98.9% during the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $149,000 after acquiring an additional 741 shares during the period. Exane Asset Management purchased a new position in shares of Vornado Realty Trust during the second quarter worth approximately $187,000. Finally, Global X Management Co. LLC increased its position in shares of Vornado Realty Trust by 44.6% during 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 acquiring an additional 630 shares during the period. Institutional investors own 85.95% of the company’s stock.
Shares of Vornado Realty Trust (VNO) opened at 76.88 on Monday. The firm’s 50-day moving average price is $75.53 and its 200 day moving average price is $77.86. The company has a market cap of $14.57 billion, a PE ratio of 16.60 and a beta of 1.00. Vornado Realty Trust has a 12 month low of $72.77 and a 12 month high of $90.32.
Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.09. Vornado Realty Trust had a return on equity of 4.51% and a net margin of 37.96%. The company had revenue of $626.04 million for the quarter, compared to analyst estimates of $633.19 million. During the same quarter in the previous year, the company earned $1.21 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts anticipate that Vornado Realty Trust will post $1.22 earnings per share for the current fiscal year.
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A number of analysts recently issued reports on the company. Bank of America Corporation reiterated a “buy” rating and issued a $113.00 price target (up previously from $112.00) on shares of Vornado Realty Trust in a report on Thursday, June 22nd. Stifel Nicolaus downgraded Vornado Realty Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $86.00 to $77.00 in a report on Wednesday, August 30th. BidaskClub upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Evercore ISI reaffirmed an “outperform” rating and set a $86.00 target price (down from $106.00) on shares of Vornado Realty Trust in a research report on Friday, July 21st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $78.00 target price (down from $81.00) on shares of Vornado Realty Trust in a research report on Friday, September 1st. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $95.73.
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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