Bank of America Corp DE lessened its holdings in shares of Vornado Realty Trust (NYSE:VNO) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 469,596 shares of the real estate investment trust’s stock after selling 1,511 shares during the quarter. Bank of America Corp DE owned approximately 0.25% of Vornado Realty Trust worth $29,129,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Van ECK Associates Corp lifted its position in Vornado Realty Trust by 8.7% in the fourth quarter. Van ECK Associates Corp now owns 42,152 shares of the real estate investment trust’s stock valued at $2,615,000 after buying an additional 3,390 shares during the last quarter. Bank of Nova Scotia increased its stake in Vornado Realty Trust by 6.2% during the fourth quarter. Bank of Nova Scotia now owns 37,079 shares of the real estate investment trust’s stock worth $2,300,000 after purchasing an additional 2,160 shares during the period. DNB Asset Management AS increased its stake in Vornado Realty Trust by 2.3% during the fourth quarter. DNB Asset Management AS now owns 20,496 shares of the real estate investment trust’s stock worth $1,271,000 after purchasing an additional 468 shares during the period. Landsberg Bennett & Dubbaneh LLC purchased a new stake in Vornado Realty Trust during the fourth quarter worth about $431,000. Finally, Virtu Financial LLC purchased a new stake in Vornado Realty Trust during the fourth quarter worth about $235,000. 88.81% of the stock is currently owned by institutional investors.
Shares of VNO stock traded down $0.43 during trading hours on Monday, hitting $67.91. The stock had a trading volume of 559,300 shares, compared to its average volume of 949,396. The company has a market capitalization of $12.92 billion, a P/E ratio of 18.06, a PEG ratio of 3.71 and a beta of 1.11. Vornado Realty Trust has a twelve month low of $59.48 and a twelve month high of $77.59. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.33.
A number of analysts have issued reports on the stock. Deutsche Bank cut their price target on shares of Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Barclays restated a “hold” rating and set a $68.00 target price on shares of Vornado Realty Trust in a research note on Friday, December 21st. Finally, JPMorgan Chase & Co. lowered shares of Vornado Realty Trust from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $74.00 to $72.00 in a research note on Wednesday, December 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $78.11.
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About Vornado Realty Trust
Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2017.
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