Vornado Realty Trust (NYSE:VNO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Vornado Realty Trust (NYSE:VNO) by 5.1% during the second quarter, Holdings Channel.com reports. The fund owned 606,379 shares of the real estate investment trust’s stock after selling 32,747 shares during the period. Principal Financial Group Inc.’s holdings in Vornado Realty Trust were worth $11,000,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Thrivent Financial for Lutherans grew its position in shares of Vornado Realty Trust by 1.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 30,379 shares of the real estate investment trust’s stock valued at $869,000 after acquiring an additional 330 shares during the period. CIBC Asset Management Inc lifted its stake in Vornado Realty Trust by 3.2% in the 4th quarter. CIBC Asset Management Inc now owns 23,342 shares of the real estate investment trust’s stock valued at $486,000 after buying an additional 729 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Vornado Realty Trust by 1.4% in the 3rd quarter. Retirement Systems of Alabama now owns 53,505 shares of the real estate investment trust’s stock valued at $1,239,000 after buying an additional 744 shares in the last quarter. Kentucky Retirement Systems lifted its stake in Vornado Realty Trust by 6.8% in the 3rd quarter. Kentucky Retirement Systems now owns 12,610 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 798 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Vornado Realty Trust by 170.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,277 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 804 shares in the last quarter. 75.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on VNO shares. Bank of America raised their price target on shares of Vornado Realty Trust from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th. The Goldman Sachs Group raised their price target on shares of Vornado Realty Trust from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Tuesday, November 7th. Evercore ISI decreased their price target on shares of Vornado Realty Trust from $25.00 to $24.00 in a research note on Monday, October 9th. Truist Financial lowered shares of Vornado Realty Trust from a “buy” rating to a “hold” rating and raised their target price for the stock from $22.00 to $27.00 in a research note on Friday, September 15th. Finally, Piper Sandler decreased their target price on shares of Vornado Realty Trust from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.00.

Vornado Realty Trust Stock Up 1.2 %

Shares of NYSE VNO opened at $22.59 on Monday. The company has a 50 day simple moving average of $21.97 and a 200-day simple moving average of $19.60. The company has a market capitalization of $4.30 billion, a P/E ratio of -11.18 and a beta of 1.50. The company has a debt-to-equity ratio of 1.69, a current ratio of 4.52 and a quick ratio of 4.52. Vornado Realty Trust has a 1 year low of $12.31 and a 1 year high of $26.76.

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.