State of Michigan Retirement System Increases Stake in Vornado Realty Trust (NYSE:VNO)

State of Michigan Retirement System Increases Stake in Vornado Realty Trust

The State of Michigan Retirement System has increased its stake in Vornado Realty Trust by 2.3% in the 1st quarter, according to the company’s most recent disclosure with the SEC. The institutional investor now owns 39,300 shares of the real estate investment trust’s stock, worth $1,131,000 at the end of the quarter.

Other hedge funds have also made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in Vornado Realty Trust, while Financial Gravity Asset Management Inc. and Turtle Creek Wealth Advisors LLC also increased their stakes in the company.

Vornado Realty Trust’s stock is currently trading down 1.8% on the NYSE, with a 1-year low of $17.28 and a 1-year high of $32.21. The company has a market cap of $4.90 billion and a PE ratio of 171.54.

Analysts have recently issued mixed ratings on Vornado Realty Trust, with some dropping their price targets and others upgrading the stock. The company currently has an average rating of “Hold” and a consensus target price of $24.27.

Vornado Realty Trust is a fully integrated real estate investment trust with a portfolio of premier assets in New York City, Chicago, and San Francisco. The company is also a leader in sustainability, with over 27 million square feet of LEED-certified buildings.

Overall, Vornado Realty Trust continues to attract interest from investors and analysts alike, with its unique portfolio and commitment to sustainability setting it apart in the real estate industry.