Freedom Investment Management Inc. Sells 2,227 Shares of Vornado Realty Trust (NYSE:VNO)

Freedom Investment Management Inc. cut its holdings in Vornado Realty Trust (NYSE:VNO) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,708 shares of the real estate investment trust’s stock after selling 2,227 shares during the period. Freedom Investment Management Inc.’s holdings in Vornado Realty Trust were worth $895,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Vornado Realty Trust by 331.0% in the third quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 844 shares during the last quarter. Assetmark Inc. grew its holdings in Vornado Realty Trust by 122.2% in the 3rd quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 661 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vornado Realty Trust in the second quarter valued at about $48,000. EverSource Wealth Advisors LLC raised its stake in shares of Vornado Realty Trust by 61.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Vornado Realty Trust by 42.5% during the third quarter. Farther Finance Advisors LLC now owns 2,229 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 665 shares during the period. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a report on Thursday, September 12th. Evercore ISI upped their target price on Vornado Realty Trust from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Bank of America lifted their price target on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a report on Tuesday, November 12th. Finally, Compass Point raised their target price on shares of Vornado Realty Trust from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Vornado Realty Trust currently has an average rating of “Hold” and a consensus price target of $35.68.

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock opened at $43.43 on Friday. Vornado Realty Trust has a 1 year low of $21.16 and a 1 year high of $46.63. The company has a 50-day moving average of $41.40 and a 200 day moving average of $33.16. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 1.93.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The business had revenue of $443.26 million for the quarter, compared to the consensus estimate of $445.07 million. During the same period in the prior year, the business posted $0.66 EPS. Vornado Realty Trust’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts anticipate that Vornado Realty Trust will post 2.16 EPS for the current fiscal year.

About Vornado Realty Trust

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