Zurich Insurance Group Ltd FI Grows Position in Vornado Realty Trust (NYSE:VNO)

Zurich Insurance Group Ltd FI increased its stake in shares of Vornado Realty Trust (NYSE:VNO) by 11.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 500,367 shares of the real estate investment trust’s stock after purchasing an additional 52,276 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Vornado Realty Trust were worth $21,035,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VNO. UMB Bank n.a. lifted its stake in Vornado Realty Trust by 53.2% in the 4th quarter. UMB Bank n.a. now owns 772 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 268 shares in the last quarter. FIL Ltd purchased a new position in shares of Vornado Realty Trust during the fourth quarter valued at about $49,000. Assetmark Inc. increased its holdings in shares of Vornado Realty Trust by 23.8% in the fourth quarter. Assetmark Inc. now owns 1,488 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 286 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Vornado Realty Trust by 61.6% in the fourth quarter. Blue Trust Inc. now owns 1,776 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 677 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Vornado Realty Trust by 55.4% in the fourth quarter. Quarry LP now owns 2,135 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 761 shares in the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on VNO. Morgan Stanley raised their price target on Vornado Realty Trust from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Barclays increased their target price on Vornado Realty Trust from $31.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. The Goldman Sachs Group boosted their price target on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, February 25th. StockNews.com raised shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Finally, Piper Sandler dropped their price objective on shares of Vornado Realty Trust from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $38.00.

Vornado Realty Trust Price Performance

Shares of VNO stock opened at $38.81 on Wednesday. The stock has a 50 day moving average price of $36.50 and a 200 day moving average price of $39.93. Vornado Realty Trust has a 52-week low of $22.42 and a 52-week high of $46.63. The company has a debt-to-equity ratio of 1.98, a quick ratio of 4.59 and a current ratio of 4.59. The firm has a market capitalization of $7.45 billion, a P/E ratio of 970.25, a P/E/G ratio of 9.69 and a beta of 1.47.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, May 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. The business had revenue of $461.58 million during the quarter, compared to the consensus estimate of $452.68 million. Vornado Realty Trust had a return on equity of 1.60% and a net margin of 3.94%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. As a group, sell-side analysts predict that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.