Pitcairn Co. Buys New Position in Vornado Realty Trust (NYSE:VNO)

Pitcairn Co. bought a new stake in shares of Vornado Realty Trust (NYSE:VNO) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 7,816 shares of the real estate investment trust’s stock, valued at approximately $298,000.

Several other large investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vornado Realty Trust by 0.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,990 shares of the real estate investment trust’s stock valued at $3,295,000 after buying an additional 329 shares during the last quarter. NovaPoint Capital LLC boosted its position in shares of Vornado Realty Trust by 4.9% during the first quarter. NovaPoint Capital LLC now owns 7,622 shares of the real estate investment trust’s stock valued at $276,000 after buying an additional 354 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Vornado Realty Trust by 2.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,204 shares of the real estate investment trust’s stock valued at $659,000 after buying an additional 431 shares during the last quarter. 6 Meridian boosted its position in shares of Vornado Realty Trust by 5.1% during the first quarter. 6 Meridian now owns 9,592 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 467 shares during the last quarter. Finally, American International Group Inc. boosted its position in Vornado Realty Trust by 1.0% in the first quarter. American International Group Inc. now owns 54,118 shares of the real estate investment trust’s stock worth $1,960,000 after purchasing an additional 557 shares during the last quarter. 78.77% of the stock is currently owned by institutional investors.

Shares of VNO opened at $34.52 on Friday. The firm has a market cap of $6.60 billion, a PE ratio of 2.26, a PEG ratio of 3.97 and a beta of 1.40. The stock’s fifty day moving average price is $37.45 and its two-hundred day moving average price is $45.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 6.17 and a quick ratio of 6.17. Vornado Realty Trust has a 1 year low of $27.64 and a 1 year high of $68.68.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, May 4th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.12). The firm had revenue of $444.50 million during the quarter, compared to the consensus estimate of $432.86 million. Vornado Realty Trust had a net margin of 161.97% and a return on equity of 2.96%. The business’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Sell-side analysts anticipate that Vornado Realty Trust will post 2.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 6.14%. Vornado Realty Trust’s payout ratio is 75.64%.

Several research analysts have weighed in on VNO shares. ValuEngine raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. Deutsche Bank cut their price objective on Vornado Realty Trust from $47.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Morgan Stanley cut their price objective on Vornado Realty Trust from $36.00 to $34.00 and set an “underweight” rating on the stock in a research report on Thursday, June 25th. Zacks Investment Research cut Vornado Realty Trust from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research report on Tuesday, May 26th. Finally, Stifel Nicolaus cut Vornado Realty Trust from a “hold” rating to a “sell” rating and set a $35.00 price objective on the stock. in a research report on Tuesday, May 5th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Vornado Realty Trust presently has an average rating of “Hold” and a consensus target price of $51.33.

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 2019.

Further Reading: What impact do institutional investors have on markets?

Want to see what other hedge funds are holding VNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vornado Realty Trust (NYSE:VNO).

Institutional Ownership by Quarter for Vornado Realty Trust (NYSE:VNO)

Receive News & Ratings for Vornado Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vornado Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.