Sumitomo Mitsui Asset Management Company LTD cut its holdings in Vornado Realty Trust (NYSE:VNO) by 66.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,808 shares of the real estate investment trust’s stock after selling 115,646 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Vornado Realty Trust were worth $4,219,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in VNO. The Manufacturers Life Insurance Company lifted its holdings in shares of Vornado Realty Trust by 8.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 182,745 shares of the real estate investment trust’s stock valued at $12,299,000 after purchasing an additional 14,399 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Vornado Realty Trust by 4.1% in the 1st quarter. Guggenheim Capital LLC now owns 517,125 shares of the real estate investment trust’s stock valued at $34,802,000 after acquiring an additional 20,144 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Vornado Realty Trust by 36.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 285,188 shares of the real estate investment trust’s stock valued at $19,193,000 after acquiring an additional 76,776 shares in the last quarter. Legal & General Group Plc lifted its stake in Vornado Realty Trust by 6.5% in the 1st quarter. Legal & General Group Plc now owns 1,545,974 shares of the real estate investment trust’s stock valued at $104,055,000 after acquiring an additional 94,700 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its stake in Vornado Realty Trust by 58.9% in the 1st quarter. WINTON GROUP Ltd now owns 9,338 shares of the real estate investment trust’s stock valued at $628,000 after acquiring an additional 3,462 shares in the last quarter. 79.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of VNO stock traded up $0.16 during trading on Friday, reaching $70.06. 843,389 shares of the company’s stock were exchanged, compared to its average volume of 934,120. The firm has a market capitalization of $13.20 billion, a PE ratio of 18.78, a PEG ratio of 4.58 and a beta of 0.90. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 2.36. Vornado Realty Trust has a twelve month low of $64.13 and a twelve month high of $79.56.
Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, October 29th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $542.05 million during the quarter, compared to analyst estimates of $544.62 million. Vornado Realty Trust had a return on equity of 8.55% and a net margin of 16.89%. Vornado Realty Trust’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. As a group, sell-side analysts predict that Vornado Realty Trust will post 3.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Monday, November 5th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.60%. Vornado Realty Trust’s dividend payout ratio is presently 67.56%.
Several equities research analysts have commented on the company. Zacks Investment Research cut Vornado Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. ValuEngine upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Citigroup lowered their price target on Vornado Realty Trust from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 29th. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price target on shares of Vornado Realty Trust in a research report on Monday, October 29th. Finally, Scotiabank began coverage on Vornado Realty Trust in a research report on Tuesday, October 16th. They set an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $79.80.
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Vornado Realty Trust Company Profile
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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