PNC Financial Services Group Inc. Cuts Position in Vornado Realty Trust (NYSE:VNO)

PNC Financial Services Group Inc. lessened its holdings in Vornado Realty Trust (NYSE:VNO) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,576 shares of the real estate investment trust’s stock after selling 368 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vornado Realty Trust were worth $487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of VNO. Victory Capital Management Inc. grew its holdings in Vornado Realty Trust by 18.6% in the third quarter. Victory Capital Management Inc. now owns 63,580 shares of the real estate investment trust’s stock worth $2,505,000 after purchasing an additional 9,968 shares during the period. CIBC Asset Management Inc purchased a new stake in Vornado Realty Trust in the third quarter worth about $222,000. Empowered Funds LLC purchased a new stake in Vornado Realty Trust in the third quarter worth about $215,000. Natixis Advisors LLC grew its holdings in Vornado Realty Trust by 6.7% in the third quarter. Natixis Advisors LLC now owns 18,682 shares of the real estate investment trust’s stock worth $736,000 after purchasing an additional 1,180 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Vornado Realty Trust by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 38,933 shares of the real estate investment trust’s stock worth $1,534,000 after purchasing an additional 272 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Trading Up 2.5 %

Shares of VNO stock opened at $38.69 on Thursday. Vornado Realty Trust has a 12-month low of $22.42 and a 12-month high of $46.63. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 1.98. The firm’s 50 day moving average is $40.53 and its 200 day moving average is $40.81. The stock has a market capitalization of $7.38 billion, a P/E ratio of 967.15, a P/E/G ratio of 9.69 and a beta of 1.60.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.66. Vornado Realty Trust had a net margin of 3.94% and a return on equity of 1.60%. Research analysts expect that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays upped their price objective on shares of Vornado Realty Trust from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Mizuho upgraded shares of Vornado Realty Trust from a “neutral” rating to an “outperform” rating and increased their price target for the company from $38.00 to $48.00 in a report on Tuesday, January 7th. StockNews.com upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Compass Point increased their price target on shares of Vornado Realty Trust from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on shares of Vornado Realty Trust from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $38.55.

Vornado Realty Trust Company Profile

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