Renaissance Technologies LLC Takes Position in Vornado Realty Trust (NYSE:VNO)

Renaissance Technologies LLC acquired a new stake in shares of Vornado Realty Trust (NYSE:VNO) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 44,399 shares of the real estate investment trust’s stock, valued at approximately $1,167,000.

Several other large investors also recently made changes to their positions in VNO. Nomura Holdings Inc. boosted its position in shares of Vornado Realty Trust by 2,410.2% during the 4th quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock valued at $27,488,000 after purchasing an additional 934,271 shares in the last quarter. Natixis bought a new position in shares of Vornado Realty Trust during the 1st quarter valued at about $21,564,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Vornado Realty Trust by 324.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock valued at $20,292,000 after purchasing an additional 590,176 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Vornado Realty Trust during the 1st quarter valued at about $12,824,000. Finally, Castle Hook Partners LP boosted its position in shares of Vornado Realty Trust by 66.9% during the 1st quarter. Castle Hook Partners LP now owns 926,962 shares of the real estate investment trust’s stock valued at $26,669,000 after purchasing an additional 371,517 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VNO. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. Compass Point raised their target price on shares of Vornado Realty Trust from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Barclays raised their target price on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. Evercore ISI raised their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets upgraded shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $29.00 to $40.00 in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.43.

Vornado Realty Trust Price Performance

NYSE VNO opened at $39.34 on Friday. The company has a 50 day simple moving average of $34.40 and a 200-day simple moving average of $29.10. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 262.27 and a beta of 1.65. Vornado Realty Trust has a 52-week low of $18.36 and a 52-week high of $40.37.

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 company had revenue of $450.27 million during the quarter, compared to analysts’ expectations of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. Vornado Realty Trust’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. Equities research analysts predict that Vornado Realty Trust will post 2.17 earnings per share for the current fiscal year.

Insider Activity at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the firm’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 transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.14% of the company’s stock.

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.