State of New Jersey Common Pension Fund D Decreases Stake in Vornado Realty Trust (NYSE:VNO)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Vornado Realty Trust (NYSE:VNO) by 26.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,394 shares of the real estate investment trust’s stock after selling 28,591 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Vornado Realty Trust were worth $2,140,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of VNO. Principal Securities Inc. acquired a new position in shares of Vornado Realty Trust during the 4th quarter worth $58,000. D.A. Davidson & CO. increased its holdings in Vornado Realty Trust by 3.0% in the fourth quarter. D.A. Davidson & CO. now owns 40,073 shares of the real estate investment trust’s stock valued at $1,132,000 after buying an additional 1,175 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Vornado Realty Trust during the 4th quarter valued at approximately $188,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Vornado Realty Trust by 3.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 187,444 shares of the real estate investment trust’s stock worth $5,295,000 after acquiring an additional 6,864 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in shares of Vornado Realty Trust by 11.3% in the 4th quarter. United Services Automobile Association now owns 14,412 shares of the real estate investment trust’s stock worth $407,000 after acquiring an additional 1,462 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Insider Buying and Selling

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,034 shares in the company, valued at $85,528.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.14% of the company’s stock.

Wall Street Analyst Weigh In

VNO has been the subject of several research reports. Barclays lifted their price objective on Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group boosted their price objective on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research report on Thursday, September 12th. Piper Sandler upgraded shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and raised their target price for the company from $22.00 to $30.00 in a report on Thursday, August 8th. Evercore ISI upped their price target on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, Truist Financial raised their price objective on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.43.

Vornado Realty Trust Stock Up 0.3 %

Shares of VNO opened at $38.98 on Friday. The firm has a market cap of $7.42 billion, a PE ratio of 259.88 and a beta of 1.65. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. The company’s fifty day moving average is $32.17 and its two-hundred day moving average is $28.06. Vornado Realty Trust has a fifty-two week low of $18.36 and a fifty-two week high of $39.91.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). The firm had revenue of $450.27 million for the quarter, compared to analysts’ expectations of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. Vornado Realty Trust’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. Analysts forecast that Vornado Realty Trust will post 2.17 earnings per share for the current year.

Vornado Realty Trust 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.