Truist Financial Corp Sells 11,574 Shares of Vornado Realty Trust (NYSE:VNO)

Truist Financial Corp lowered its stake in shares of Vornado Realty Trust (NYSE:VNO) by 60.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,657 shares of the real estate investment trust’s stock after selling 11,574 shares during the period. Truist Financial Corp’s holdings in Vornado Realty Trust were worth $201,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. raised its position in Vornado Realty Trust by 3.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock worth $307,000 after acquiring an additional 386 shares in the last quarter. First National Bank Sioux Falls lifted its stake in Vornado Realty Trust by 3.3% in the 1st quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 496 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Vornado Realty Trust by 0.3% during the first quarter. Retirement Systems of Alabama now owns 200,756 shares of the real estate investment trust’s stock worth $5,776,000 after purchasing an additional 527 shares during the period. State of Alaska Department of Revenue increased its position in Vornado Realty Trust by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 101,565 shares of the real estate investment trust’s stock worth $2,921,000 after buying an additional 531 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in Vornado Realty Trust by 5.8% in the first quarter. Park Avenue Securities LLC now owns 10,036 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 553 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial upped their price objective on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Compass Point upped their price target on shares of Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. Scotiabank upped their target price on Vornado Realty Trust from $23.00 to $33.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 4th. Finally, Bank of America lifted their price target on Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Vornado Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $30.43.

Vornado Realty Trust Trading Up 2.6 %

VNO opened at $43.38 on Friday. The company has a market cap of $8.26 billion, a P/E ratio of 289.20 and a beta of 1.65. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The company’s 50 day moving average is $36.55 and its 200-day moving average is $29.99. Vornado Realty Trust has a 1-year low of $18.36 and a 1-year high of $43.61.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). The business had revenue of $450.27 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. Equities research analysts predict that Vornado Realty Trust will post 2.17 earnings per share for the current fiscal year.

Vornado Realty Trust Profile

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