Vornado Realty Trust (NYSE:VNO) Stake Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in Vornado Realty Trust (NYSE:VNO - Free Report) by 46.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,661 shares of the real estate investment trust's stock after selling 33,674 shares during the period. Thrivent Financial for Lutherans' holdings in Vornado Realty Trust were worth $1,016,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Sei Investments Co. raised its position in Vornado Realty Trust by 5.7% in the 1st quarter. Sei Investments Co. now owns 469,262 shares of the real estate investment trust's stock valued at $13,501,000 after purchasing an additional 25,374 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Vornado Realty Trust by 7.9% in the first quarter. National Bank of Canada FI now owns 917,100 shares of the real estate investment trust's stock valued at $26,385,000 after acquiring an additional 67,100 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Vornado Realty Trust during the first quarter worth about $12,824,000. Nomura Holdings Inc. raised its holdings in Vornado Realty Trust by 2,410.2% during the fourth quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust's stock worth $27,488,000 after purchasing an additional 934,271 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in Vornado Realty Trust by 3.0% in the fourth quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust's stock valued at $281,897,000 after purchasing an additional 288,952 shares during the period. Institutional investors and hedge funds own 90.02% of the company's stock.

Vornado Realty Trust Trading Down 1.8 %

Shares of NYSE VNO traded down $0.72 during midday trading on Monday, hitting $38.62. The stock had a trading volume of 2,238,470 shares, compared to its average volume of 2,077,063. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. Vornado Realty Trust has a 1-year low of $18.36 and a 1-year high of $40.37. The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of 257.47 and a beta of 1.65. The company has a fifty day moving average price of $34.58 and a 200 day moving average price of $29.18.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.37). Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The business had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. During the same period last year, the firm earned $0.72 earnings per share. The company's quarterly revenue was down 4.7% on a year-over-year basis. On average, analysts predict that Vornado Realty Trust will post 2.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VNO. Compass Point increased their target price on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Piper Sandler raised shares of Vornado Realty Trust from an "underweight" rating to a "neutral" rating and upped their price target for the company from $22.00 to $30.00 in a report on Thursday, August 8th. Bank of America raised their price objective on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, August 22nd. BMO Capital Markets raised Vornado Realty Trust from a "market perform" rating to an "outperform" rating and upped their target price for the company from $29.00 to $40.00 in a research note on Thursday, August 8th. Finally, Evercore ISI increased their target price on Vornado Realty Trust from $38.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Vornado Realty Trust currently has an average rating of "Hold" and an average target price of $30.43.

Insider Activity at Vornado Realty Trust

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $28.19, for a total value of $56,380.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at approximately $85,528.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.14% of the stock is owned by insiders.

About Vornado Realty Trust

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.