Prudential Financial Inc. trimmed its stake in Vornado Realty Trust (NYSE:VNO) by 39.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 408,597 shares of the real estate investment trust’s stock after selling 265,220 shares during the quarter. Prudential Financial Inc. owned approximately 0.22% of Vornado Realty Trust worth $31,413,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of VNO. OppenheimerFunds Inc. grew its stake in Vornado Realty Trust by 16.8% in the first quarter. OppenheimerFunds Inc. now owns 3,338 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 480 shares in the last quarter. Bank of Montreal Can grew its stake in Vornado Realty Trust by 183.1% in the second quarter. Bank of Montreal Can now owns 217,799 shares of the real estate investment trust’s stock valued at $20,451,000 after purchasing an additional 140,861 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in Vornado Realty Trust by 521.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 28,177 shares of the real estate investment trust’s stock valued at $2,646,000 after purchasing an additional 23,641 shares in the last quarter. LS Investment Advisors LLC grew its stake in Vornado Realty Trust by 5.6% in the second quarter. LS Investment Advisors LLC now owns 6,233 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 332 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in Vornado Realty Trust by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the real estate investment trust’s stock valued at $1,005,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.
Shares of Vornado Realty Trust (VNO) opened at $76.14 on Wednesday. The stock has a market capitalization of $14,425.02, a price-to-earnings ratio of 18.62, a P/E/G ratio of 4.62 and a beta of 0.99. Vornado Realty Trust has a one year low of $71.89 and a one year high of $89.38. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.20.
Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.90. The business had revenue of $528.76 million during the quarter, compared to the consensus estimate of $545.53 million. Vornado Realty Trust had a return on equity of 4.73% and a net margin of 35.23%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. equities analysts predict that Vornado Realty Trust will post 3.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, November 3rd. This represents a $2.40 annualized dividend and a yield of 3.15%. Vornado Realty Trust’s dividend payout ratio (DPR) is presently 57.97%.
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A number of research firms have weighed in on VNO. Citigroup Inc. decreased their price target 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. upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, October 17th. downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Morgan Stanley reiterated an “equal weight” rating and set a $81.00 target price on shares of Vornado Realty Trust in a research note on Saturday, July 22nd. Finally, reiterated 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. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $93.67.
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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