SCS Capital Management LLC Makes New $9.98 Million Investment in Vornado Realty Trust $VNO

SCS Capital Management LLC bought a new position in shares of Vornado Realty Trust (NYSE:VNO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 260,842 shares of the real estate investment trust’s stock, valued at approximately $9,975,000. SCS Capital Management LLC owned approximately 0.14% of Vornado Realty Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in VNO. LPL Financial LLC increased its position in Vornado Realty Trust by 13.3% during the first quarter. LPL Financial LLC now owns 89,401 shares of the real estate investment trust’s stock worth $3,307,000 after buying an additional 10,484 shares during the period. Natixis Advisors LLC grew its position in shares of Vornado Realty Trust by 2.8% during the first quarter. Natixis Advisors LLC now owns 52,778 shares of the real estate investment trust’s stock worth $1,952,000 after acquiring an additional 1,462 shares during the last quarter. US Bancorp DE increased its holdings in shares of Vornado Realty Trust by 8.7% in the 1st quarter. US Bancorp DE now owns 20,286 shares of the real estate investment trust’s stock valued at $750,000 after acquiring an additional 1,622 shares during the period. PNC Financial Services Group Inc. raised its position in Vornado Realty Trust by 8.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,550 shares of the real estate investment trust’s stock valued at $464,000 after purchasing an additional 974 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Vornado Realty Trust by 21.3% in the 1st quarter. Deutsche Bank AG now owns 2,952,900 shares of the real estate investment trust’s stock valued at $109,228,000 after purchasing an additional 517,773 shares during the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VNO. Truist Financial lifted their price objective on shares of Vornado Realty Trust from $38.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Scotiabank lowered their price target on Vornado Realty Trust from $40.00 to $38.00 and set a “sector perform” rating on the stock in a report on Thursday, November 13th. JPMorgan Chase & Co. raised Vornado Realty Trust from an “underweight” rating to a “neutral” rating and set a $41.00 price objective for the company in a research note on Monday, November 24th. Evercore ISI increased their price objective on Vornado Realty Trust from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Finally, Citigroup upgraded Vornado Realty Trust from a “sell” rating to a “neutral” rating and lifted their target price for the company from $34.00 to $42.00 in a research note on Friday, September 12th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Vornado Realty Trust has a consensus rating of “Hold” and an average target price of $39.31.

Vornado Realty Trust Trading Down 1.5%

Shares of Vornado Realty Trust stock opened at $35.41 on Friday. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 6.34 and a beta of 1.47. Vornado Realty Trust has a 52-week low of $29.68 and a 52-week high of $46.52. The company’s 50-day simple moving average is $37.66 and its 200-day simple moving average is $38.48. The company has a quick ratio of 5.58, a current ratio of 5.58 and a debt-to-equity ratio of 1.42.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Vornado Realty Trust had a return on equity of 19.48% and a net margin of 49.91%.The company had revenue of $453.70 million for the quarter, compared to analyst estimates of $435.19 million. During the same quarter in the previous year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate 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.