abrdn plc Sells 3,383 Shares of Vornado Realty Trust (NYSE:VNO)

abrdn plc trimmed its stake in Vornado Realty Trust (NYSE:VNO) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,660 shares of the real estate investment trust’s stock after selling 3,383 shares during the period. abrdn plc’s holdings in Vornado Realty Trust were worth $923,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in VNO. Commonwealth Equity Services LLC increased its holdings in shares of Vornado Realty Trust by 1.4% during the third quarter. Commonwealth Equity Services LLC now owns 407,804 shares of the real estate investment trust’s stock valued at $9,249,000 after acquiring an additional 5,620 shares in the last quarter. TriaGen Wealth Management LLC acquired a new stake in Vornado Realty Trust in the 3rd quarter valued at $481,000. Raymond James Financial Services Advisors Inc. increased its holdings in Vornado Realty Trust by 46.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,430 shares of the real estate investment trust’s stock worth $373,000 after acquiring an additional 5,242 shares in the last quarter. Bank of New York Mellon Corp raised its position in Vornado Realty Trust by 2.3% during the third quarter. Bank of New York Mellon Corp now owns 1,560,328 shares of the real estate investment trust’s stock worth $35,388,000 after acquiring an additional 34,457 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in Vornado Realty Trust by 1.9% during the third quarter. New York State Teachers Retirement System now owns 199,976 shares of the real estate investment trust’s stock valued at $4,535,000 after purchasing an additional 3,807 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Trading Up 2.8 %

VNO opened at $26.99 on Tuesday. Vornado Realty Trust has a one year low of $12.31 and a one year high of $32.21. The company has a debt-to-equity ratio of 1.82, a quick ratio of 4.95 and a current ratio of 4.95. The stock has a market capitalization of $5.14 billion, a PE ratio of 117.35 and a beta of 1.57. The business’s 50 day moving average price is $26.68 and its 200 day moving average price is $25.80.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). The company had revenue of $441.89 million during the quarter, compared to analyst estimates of $453.82 million. Vornado Realty Trust had a net margin of 5.82% and a return on equity of 3.22%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. As a group, equities research analysts expect that Vornado Realty Trust will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

VNO has been the subject of several research analyst reports. Morgan Stanley upgraded shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $24.00 to $26.00 in a research report on Thursday, March 28th. The Goldman Sachs Group decreased their price target on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, February 22nd. Evercore ISI cut their price objective on shares of Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a report on Thursday, February 15th. Finally, Barclays initiated coverage on Vornado Realty Trust in a research report on Wednesday, March 27th. They issued an “underweight” rating and a $22.00 price target for the company. Six analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $24.80.

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.