Summit Securities Group LLC Makes New Investment in Vornado Realty Trust (NYSE:VNO)

Summit Securities Group LLC acquired a new stake in Vornado Realty Trust (NYSE:VNO) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 17,000 shares of the real estate investment trust’s stock, valued at approximately $715,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in Vornado Realty Trust by 0.7% during 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 buying an additional 272 shares during the period. Cerity Partners LLC boosted its stake in shares of Vornado Realty Trust by 61.5% during the 3rd quarter. Cerity Partners LLC now owns 17,093 shares of the real estate investment trust’s stock worth $673,000 after purchasing an additional 6,509 shares during the period. FMR LLC boosted its stake in shares of Vornado Realty Trust by 7.3% during the 3rd quarter. FMR LLC now owns 37,506 shares of the real estate investment trust’s stock worth $1,478,000 after purchasing an additional 2,536 shares during the period. BNP Paribas Financial Markets grew its holdings in Vornado Realty Trust by 79.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 117,701 shares of the real estate investment trust’s stock valued at $4,637,000 after purchasing an additional 52,082 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in Vornado Realty Trust by 1.6% in the 3rd quarter. MetLife Investment Management LLC now owns 90,848 shares of the real estate investment trust’s stock worth $3,579,000 after purchasing an additional 1,434 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Wall Street Analyst Weigh In

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

Vornado Realty Trust Stock Down 2.5 %

VNO stock opened at $36.75 on Friday. The company has a market capitalization of $7.01 billion, a P/E ratio of 918.80, a price-to-earnings-growth ratio of 9.69 and a beta of 1.60. Vornado Realty Trust has a 12 month low of $22.42 and a 12 month high of $46.63. The firm’s fifty day simple moving average is $40.29 and its 200-day simple moving average is $41.03. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.59 and a quick ratio of 4.59.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.66. Vornado Realty Trust had a return on equity of 1.60% and a net margin of 3.94%. As a group, equities research analysts forecast that Vornado Realty Trust will post 2.31 earnings per share for the current year.

About Vornado Realty Trust

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