Principal Financial Group Inc. lifted its stake in Vornado Realty Trust (NYSE:VNO) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,234,929 shares of the real estate investment trust’s stock after buying an additional 9,995 shares during the period. Principal Financial Group Inc. owned approximately 0.65% of Vornado Realty Trust worth $115,960,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake 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 buying an additional 419 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of Vornado Realty Trust by 62.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,300 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 500 shares during the period. Perigon Wealth Management LLC bought a new stake in Vornado Realty Trust during the first quarter worth $139,000. Advisors Asset Management Inc. lifted its stake in Vornado Realty Trust by 98.9% during the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $149,000 after purchasing an additional 741 shares during the last quarter. Finally, Exane Asset Management bought a new stake in Vornado Realty Trust during the second quarter worth $187,000. Institutional investors and hedge funds own 86.07% of the company’s stock.
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Vornado Realty Trust (NYSE:VNO) opened at 75.11 on Friday. The company has a market capitalization of $14.23 billion, a PE ratio of 16.22 and a beta of 0.99. Vornado Realty Trust has a 52 week low of $69.81 and a 52 week high of $90.32. The stock has a 50 day moving average price of $75.83 and a 200-day moving average price of $78.21.
Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $633.19 million. During the same period in the previous year, the firm posted $1.21 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, equities analysts predict that Vornado Realty Trust will post $1.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, August 3rd. Vornado Realty Trust’s dividend payout ratio is currently 51.72%.
Several equities research analysts have weighed in on the company. Evercore ISI restated an “outperform” rating and set a $87.00 target price (up from $86.00) on shares of Vornado Realty Trust in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Vornado Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Argus upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Thursday, August 24th. BidaskClub upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Citigroup Inc. cut their target price on Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, July 19th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $96.30.
Vornado Realty Trust Company 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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