B. Riley Wealth Advisors Inc. Reduces Position in Vornado Realty Trust (NYSE:VNO)

B. Riley Wealth Advisors Inc. lowered its holdings in Vornado Realty Trust (NYSE:VNO) by 18.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,930 shares of the real estate investment trust’s stock after selling 2,257 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Vornado Realty Trust were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Putnam Investments LLC boosted its stake in Vornado Realty Trust by 3.0% during the 4th quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust’s stock valued at $281,897,000 after acquiring an additional 288,952 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Vornado Realty Trust by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,196,145 shares of the real estate investment trust’s stock worth $178,264,000 after purchasing an additional 44,147 shares during the last quarter. Duff & Phelps Investment Management Co. grew its stake in Vornado Realty Trust by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after purchasing an additional 612,765 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Vornado Realty Trust by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 1,543,096 shares of the real estate investment trust’s stock valued at $40,568,000 after buying an additional 24,322 shares during the last quarter. Finally, Nomura Holdings Inc. raised its stake in Vornado Realty Trust by 2,410.2% during the fourth quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock valued at $27,488,000 after buying an additional 934,271 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Price Performance

NYSE:VNO opened at $39.39 on Wednesday. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. The business’s 50-day moving average price is $34.77 and its 200 day moving average price is $29.26. Vornado Realty Trust has a 52-week low of $18.36 and a 52-week high of $40.37. The firm has a market cap of $7.50 billion, a P/E ratio of 262.62 and a beta of 1.65.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share 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 the consensus estimate of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, sell-side analysts predict that Vornado Realty Trust will post 2.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VNO. Piper Sandler raised shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $22.00 to $30.00 in a report on Thursday, August 8th. Scotiabank boosted their price objective on shares of 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. BMO Capital Markets raised shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $29.00 to $40.00 in a report on Thursday, August 8th. Evercore ISI lifted their target price on Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group increased their price target on Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research report on Thursday, September 12th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Vornado Realty Trust has a consensus rating of “Hold” and an average price target of $30.43.

Insiders Place Their Bets

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total value of $56,380.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at approximately $85,528.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.14% of the company’s stock.

Vornado Realty Trust Company 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.