Koch Industries Inc. raised its position in Vornado Realty Trust (NYSE:VNO) by 8,135.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 323,989 shares of the real estate investment trust’s stock after purchasing an additional 320,055 shares during the quarter. Koch Industries Inc. owned 0.17% of Vornado Realty Trust worth $321,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its position in shares of Vornado Realty Trust by 62.1% in the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 419 shares during the last quarter. Sun Life Financial INC increased its position in Vornado Realty Trust by 13,866.7% during the second quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 1,248 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in Vornado Realty Trust during the first quarter worth approximately $139,000. Exane Asset Management acquired a new position in Vornado Realty Trust during the second quarter worth approximately $187,000. Finally, Global X Management Co. LLC increased its position in Vornado Realty Trust by 44.6% during the first quarter. Global X Management Co. LLC now owns 2,041 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 630 shares during the last quarter. 85.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vornado Realty Trust (NYSE:VNO) traded down 0.23% on Friday, reaching $72.81. 171,787 shares of the company’s stock traded hands. The firm’s 50-day moving average is $76.15 and its 200-day moving average is $76.74. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 15.73 and a beta of 1.00. Vornado Realty Trust has a 52-week low of $69.81 and a 52-week high of $90.32.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. The company had revenue of $626.04 million during the quarter, compared to analyst estimates of $633.19 million. During the same quarter in the previous year, the firm earned $1.21 EPS. The firm’s revenue was up .7% compared to the same quarter last year. Analysts anticipate that Vornado Realty Trust will post $1.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, November 3rd. Vornado Realty Trust’s payout ratio is 51.72%.
A number of brokerages have weighed in on VNO. Zacks Investment Research raised Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, October 17th. Citigroup Inc. reduced their price objective on Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 19th. BidaskClub cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $81.00 price target on shares of Vornado Realty Trust in a research note on Saturday, July 22nd. Finally, Evercore ISI reiterated an “outperform” rating and issued a $87.00 price target (up from $86.00) on shares of Vornado Realty Trust in a research note on Wednesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $93.67.
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Vornado Realty Trust Profile
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.
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