Sun Sep 15 10:58:56 UTC 2024: ## Texas School Fund Increases Stake in Vornado Realty Trust
**New York, NY (MarketBeat News)** – The Texas Permanent School Fund Corp has increased its holding in Vornado Realty Trust (NYSE:VNO) by 0.6% in the second quarter, according to Holdings Channel. The fund now owns 140,749 shares of the real estate investment trust, worth approximately $3.7 million. This follows a trend of other institutional investors making changes to their VNO positions, with several purchasing new stakes and others increasing their holdings.
Vornado, a prominent real estate investment trust, reported earnings of $0.18 per share in the second quarter, missing analyst expectations by $0.37. Revenue for the quarter was $450.27 million, slightly exceeding analyst projections.
The company’s stock has garnered mixed opinions from analysts. While some have raised their price targets and ratings, others remain cautious. Notably, Evercore ISI increased their price target to $39.00 and issued an “outperform” rating, while Barclays maintained an “underweight” rating and raised their price target to $27.00. Overall, MarketBeat assigns VNO an average “Hold” rating with a target price of $30.43.
Vornado’s portfolio includes prime office and retail properties in New York City, as well as notable assets in Chicago and San Francisco. The company is also a leader in sustainability, with over 27 million square feet of LEED-certified buildings.
Despite the mixed earnings report and analyst opinions, VNO’s recent institutional investor activity suggests a continued interest in the company. The Texas Permanent School Fund Corp’s increased holding reflects confidence in Vornado’s long-term potential.
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