Principal Financial Group Inc. Decreases Stock Position in Vornado Realty Trust (NYSE:VNO)

Principal Financial Group Inc. reduced its position in shares of Vornado Realty Trust (NYSE:VNO - Free Report) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 533,961 shares of the real estate investment trust's stock after selling 69,420 shares during the period. Principal Financial Group Inc. owned about 0.28% of Vornado Realty Trust worth $14,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in VNO. Bank of New York Mellon Corp lifted its stake in shares of Vornado Realty Trust by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 1,543,096 shares of the real estate investment trust's stock worth $40,568,000 after acquiring an additional 24,322 shares during the period. Silverleafe Capital Partners LLC acquired a new position in shares of Vornado Realty Trust in the second quarter worth approximately $315,000. Raymond James & Associates lifted its stake in shares of Vornado Realty Trust by 1.8% in the second quarter. Raymond James & Associates now owns 141,768 shares of the real estate investment trust's stock worth $3,727,000 after acquiring an additional 2,536 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Vornado Realty Trust by 324.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust's stock worth $20,292,000 after acquiring an additional 590,176 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Vornado Realty Trust by 13.3% in the second quarter. Assenagon Asset Management S.A. now owns 14,276 shares of the real estate investment trust's stock worth $375,000 after acquiring an additional 1,675 shares during the period. 90.02% of the stock is currently owned by institutional investors.

Insider Activity

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of Vornado Realty Trust stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total transaction of $56,380.00. Following the transaction, the director now owns 3,034 shares of the company's stock, valued at approximately $85,528.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on VNO shares. Bank of America lifted their price objective on Vornado Realty Trust from $26.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, August 22nd. Barclays boosted their price target on Vornado Realty Trust from $21.00 to $27.00 and gave the company an "underweight" rating in a research note on Wednesday, August 14th. The Goldman Sachs Group boosted their price target on Vornado Realty Trust from $19.00 to $21.50 and gave the company a "sell" rating in a research note on Tuesday, August 27th. BMO Capital Markets raised shares of Vornado Realty Trust from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Finally, Evercore ISI raised their price target on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Vornado Realty Trust currently has an average rating of "Hold" and an average price target of $30.23.

Vornado Realty Trust Stock Down 0.6 %

VNO traded down $0.19 during midday trading on Friday, reaching $33.44. 1,550,750 shares of the company were exchanged, compared to its average volume of 2,081,757. Vornado Realty Trust has a one year low of $18.36 and a one year high of $35.26. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. The company's fifty day moving average price is $30.40 and its 200 day moving average price is $27.40. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 222.95 and a beta of 1.65.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.37). The company had revenue of $450.27 million during the quarter, compared to analysts' expectations of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The company's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. As a group, analysts expect that Vornado Realty Trust will post 2.16 EPS for the current year.

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.