Teachers Insurance & Annuity Association of America decreased its position in Vornado Realty Trust (NYSE:VNO) by 61.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,630 shares of the real estate investment trust’s stock after selling 97,822 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in Vornado Realty Trust were worth $4,014,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. 6 Meridian grew its stake in Vornado Realty Trust by 2.4% in the 2nd quarter. 6 Meridian now owns 7,460 shares of the real estate investment trust’s stock worth $478,000 after acquiring an additional 175 shares during the period. World Asset Management Inc increased its stake in Vornado Realty Trust by 1.6% in the second quarter. World Asset Management Inc now owns 13,419 shares of the real estate investment trust’s stock valued at $860,000 after purchasing an additional 207 shares during the last quarter. Retirement Systems of Alabama increased its stake in Vornado Realty Trust by 0.3% in the second quarter. Retirement Systems of Alabama now owns 80,957 shares of the real estate investment trust’s stock valued at $5,189,000 after purchasing an additional 220 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Vornado Realty Trust by 1.0% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 26,347 shares of the real estate investment trust’s stock valued at $1,777,000 after purchasing an additional 253 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Vornado Realty Trust by 1.3% during the second quarter. Envestnet Asset Management Inc. now owns 21,490 shares of the real estate investment trust’s stock worth $1,377,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 77.70% of the company’s stock.
A number of brokerages have issued reports on VNO. Scotiabank raised Vornado Realty Trust from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, July 9th. ValuEngine upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup decreased their target price on shares of Vornado Realty Trust from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Argus downgraded shares of Vornado Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $79.00 price target on shares of Vornado Realty Trust in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $74.88.
NYSE:VNO traded up $0.58 on Wednesday, hitting $64.24. 89,249 shares of the stock were exchanged, compared to its average volume of 1,210,084. The stock has a market cap of $11.99 billion, a PE ratio of 17.12, a PEG ratio of 4.75 and a beta of 0.99. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 1.14. The stock has a fifty day moving average of $61.66 and a 200-day moving average of $65.68. Vornado Realty Trust has a fifty-two week low of $58.60 and a fifty-two week high of $76.20.
Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.72). Vornado Realty Trust had a net margin of 139.71% and a return on equity of 8.53%. The company had revenue of $463.10 million during the quarter, compared to analyst estimates of $517.72 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. As a group, analysts predict that Vornado Realty Trust will post 3.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.11%. The ex-dividend date was Friday, August 2nd. Vornado Realty Trust’s dividend payout ratio (DPR) is presently 70.21%.
About Vornado Realty Trust
Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2017.
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