Nixon Capital LLC Acquires 68,725 Shares of Vornado Realty Trust (NYSE:VNO)

Nixon Capital LLC grew its position in shares of Vornado Realty Trust (NYSE:VNO) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 412,747 shares of the real estate investment trust’s stock after purchasing an additional 68,725 shares during the period. Vornado Realty Trust accounts for about 5.2% of Nixon Capital LLC’s investment portfolio, making the stock its 8th largest position. Nixon Capital LLC owned about 0.22% of Vornado Realty Trust worth $11,660,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VNO. Contravisory Investment Management Inc. purchased a new position in shares of Vornado Realty Trust during the 4th quarter worth about $26,000. Financial Gravity Asset Management Inc. raised its holdings in Vornado Realty Trust by 8,355.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 1,522 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,504 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Vornado Realty Trust in the fourth quarter valued at approximately $40,000. Bruce G. Allen Investments LLC purchased a new position in Vornado Realty Trust in the fourth quarter valued at approximately $50,000. Finally, Principal Securities Inc. purchased a new position in Vornado Realty Trust in the fourth quarter valued at approximately $58,000. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Stock Performance

VNO stock traded down $0.20 during mid-day trading on Friday, reaching $24.22. The company had a trading volume of 1,988,088 shares, compared to its average volume of 1,417,748. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $4.61 billion, a P/E ratio of 161.48 and a beta of 1.59. Vornado Realty Trust has a one year low of $14.46 and a one year high of $32.21. The stock’s 50-day simple moving average is $25.61 and its two-hundred day simple moving average is $26.45.

Analyst Upgrades and Downgrades

VNO has been the topic of several research reports. Compass Point cut their price target on shares of Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. The Goldman Sachs Group decreased their price target on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, February 22nd. Morgan Stanley raised shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $24.00 to $26.00 in a research report on Thursday, March 28th. Barclays decreased their price target on shares of Vornado Realty Trust from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Friday, May 24th. Finally, Piper Sandler decreased their price target on shares of Vornado Realty Trust from $25.00 to $22.00 and set an “underweight” rating for the company in a research report on Monday, May 13th. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, Vornado Realty Trust currently has a consensus rating of “Hold” and an average price target of $24.45.

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.