Oppenheimer & Co. Inc. Purchases Shares of 13,615 Vornado Realty Trust (NYSE:VNO)

Oppenheimer & Co. Inc. purchased a new stake in shares of Vornado Realty Trust (NYSE:VNOFree Report) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 13,615 shares of the real estate investment trust’s stock, valued at approximately $309,000.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in Vornado Realty Trust by 3.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 93,353 shares of the real estate investment trust’s stock worth $2,117,000 after acquiring an additional 2,874 shares in the last quarter. Quantbot Technologies LP purchased a new position in Vornado Realty Trust in the third quarter worth $1,158,000. Metis Global Partners LLC purchased a new position in Vornado Realty Trust in the third quarter worth $213,000. Fox Run Management L.L.C. purchased a new position in Vornado Realty Trust in the third quarter worth $1,073,000. Finally, Jump Financial LLC grew its position in Vornado Realty Trust by 91.7% in the third quarter. Jump Financial LLC now owns 36,440 shares of the real estate investment trust’s stock worth $826,000 after acquiring an additional 17,433 shares in the last quarter. 75.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VNO has been the subject of several research reports. Evercore ISI reiterated an “underperform” rating and issued a $28.00 target price (up from $23.00) on shares of Vornado Realty Trust in a research report on Monday, December 11th. The Goldman Sachs Group boosted their price target on shares of Vornado Realty Trust from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Tuesday, November 7th. BMO Capital Markets raised shares of Vornado Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $25.00 to $31.00 in a research note on Friday, December 15th. Citigroup boosted their price target on shares of Vornado Realty Trust from $12.00 to $18.00 and gave the stock a “sell” rating in a research note on Tuesday, November 28th. Finally, Piper Sandler boosted their price target on shares of Vornado Realty Trust from $16.00 to $25.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 20th. Six investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, Vornado Realty Trust has an average rating of “Reduce” and an average price target of $23.78.

Check Out Our Latest Stock Report on Vornado Realty Trust

Vornado Realty Trust Price Performance

VNO stock opened at $26.45 on Monday. Vornado Realty Trust has a 1 year low of $12.31 and a 1 year high of $32.21. The firm has a 50-day moving average of $27.96 and a 200 day moving average of $24.34. The company has a debt-to-equity ratio of 1.69, a current ratio of 4.52 and a quick ratio of 4.52.

Vornado Realty Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Friday, December 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date was Thursday, December 14th. Vornado Realty Trust’s payout ratio is currently -59.41%.

Insider Buying and Selling

In related news, Director Michael D. Fascitelli sold 262,945 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $29.54, for a total value of $7,767,395.30. Following the completion of the transaction, the director now directly owns 1,306,546 shares of the company’s stock, valued at $38,595,368.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $28.04, for a total value of $560,800.00. Following the sale, the director now owns 2,380,174 shares in the company, valued at $66,740,078.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael D. Fascitelli sold 262,945 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $29.54, for a total transaction of $7,767,395.30. Following the completion of the sale, the director now owns 1,306,546 shares in the company, valued at approximately $38,595,368.84. The disclosure for this sale can be found here. 8.03% of the stock is owned by insiders.

About Vornado Realty Trust

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Vornado Realty Trust (NYSE:VNO)

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