Private Management Group Inc. Sells 2,344 Shares of Vornado Realty Trust (NYSE:VNO)

Private Management Group Inc. lowered its position in Vornado Realty Trust (NYSE:VNO) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 886,407 shares of the real estate investment trust’s stock after selling 2,344 shares during the period. Private Management Group Inc. owned about 0.47% of Vornado Realty Trust worth $23,304,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Vornado Realty Trust by 2.0% during the second quarter. Arizona State Retirement System now owns 45,327 shares of the real estate investment trust’s stock valued at $1,192,000 after acquiring an additional 868 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Vornado Realty Trust by 2.0% during the 2nd quarter. Victory Capital Management Inc. now owns 53,612 shares of the real estate investment trust’s stock valued at $1,409,000 after purchasing an additional 1,055 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Vornado Realty Trust by 6.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,687 shares of the real estate investment trust’s stock valued at $728,000 after buying an additional 1,744 shares during the period. Bank of New York Mellon Corp raised its position in Vornado Realty Trust by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 1,543,096 shares of the real estate investment trust’s stock worth $40,568,000 after acquiring an additional 24,322 shares during the period. Finally, Silverleafe Capital Partners LLC purchased a new stake in shares of Vornado Realty Trust during the 2nd quarter worth approximately $315,000. 90.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on VNO shares. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. Bank of America boosted their price objective on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Truist Financial increased their price objective on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group boosted their target price on Vornado Realty Trust from $19.00 to $21.50 and gave the stock a “sell” rating in a research report on Tuesday, August 27th. Finally, Piper Sandler upgraded Vornado Realty Trust from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $22.00 to $30.00 in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.23.

Insiders Place Their Bets

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total transaction of $56,380.00. Following the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at $85,528.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.14% of the stock is currently owned by company insiders.

Vornado Realty Trust Trading Down 0.6 %

VNO opened at $33.43 on Monday. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 222.88 and a beta of 1.65. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The stock has a fifty day moving average price of $30.40 and a 200-day moving average price of $27.43. Vornado Realty Trust has a 12 month low of $18.36 and a 12 month high of $35.26.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.37). The company had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, equities research analysts anticipate that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.

About Vornado Realty Trust

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.