Van ECK Associates Corp Acquires 9,468 Shares of Vornado Realty Trust (NYSE:VNO)

Van ECK Associates Corp lifted its stake in shares of Vornado Realty Trust (NYSE:VNO) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,024 shares of the real estate investment trust’s stock after buying an additional 9,468 shares during the period. Van ECK Associates Corp’s holdings in Vornado Realty Trust were worth $1,978,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Vornado Realty Trust by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock valued at $554,726,000 after purchasing an additional 116,504 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in Vornado Realty Trust in the 3rd quarter valued at about $132,326,000. Deutsche Bank AG lifted its holdings in Vornado Realty Trust by 141.9% during the third quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock valued at $96,128,000 after purchasing an additional 2,486,439 shares during the last quarter. Earnest Partners LLC boosted its position in Vornado Realty Trust by 3.5% during the third quarter. Earnest Partners LLC now owns 2,603,909 shares of the real estate investment trust’s stock worth $59,057,000 after purchasing an additional 89,067 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Vornado Realty Trust by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,546,176 shares of the real estate investment trust’s stock worth $57,747,000 after purchasing an additional 527,229 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on VNO. Compass Point reduced their price objective on shares of Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their target price on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, February 22nd. Evercore ISI decreased their price target on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, February 15th. Barclays started coverage on shares of Vornado Realty Trust in a research report on Wednesday, March 27th. They issued an “underweight” rating and a $22.00 price objective for the company. Finally, Morgan Stanley raised shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Six research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, Vornado Realty Trust presently has an average rating of “Reduce” and an average target price of $25.00.

Vornado Realty Trust Trading Down 2.1 %

NYSE VNO opened at $23.71 on Thursday. The stock has a market cap of $4.52 billion, a P/E ratio of 158.07 and a beta of 1.57. Vornado Realty Trust has a fifty-two week low of $12.31 and a fifty-two week high of $32.21. The stock has a 50 day simple moving average of $26.69 and a two-hundred day simple moving average of $25.97. The company has a debt-to-equity ratio of 1.82, a quick ratio of 4.95 and a current ratio of 4.95.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.55). Vornado Realty Trust had a net margin of 5.82% and a return on equity of 3.22%. The company had revenue of $441.89 million during the quarter, compared to the consensus estimate of $453.82 million. During the same quarter last year, the firm earned $0.72 EPS. The business’s revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Vornado Realty Trust will post 2.3 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.