Advisors Asset Management Inc. cut its position in Vornado Realty Trust (NYSE:VNO) by 51.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 913 shares of the real estate investment trust’s stock after selling 976 shares during the quarter. Advisors Asset Management Inc.’s holdings in Vornado Realty Trust were worth $41,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Duncker Streett & Co. Inc. bought a new stake in Vornado Realty Trust in the 1st quarter valued at about $27,000. Vantage Consulting Group Inc bought a new stake in Vornado Realty Trust in the 4th quarter valued at about $38,000. Neo Ivy Capital Management lifted its position in Vornado Realty Trust by 49.6% in the 4th quarter. Neo Ivy Capital Management now owns 1,052 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 349 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in Vornado Realty Trust in the 1st quarter valued at about $51,000. Finally, Meeder Asset Management Inc. raised its position in shares of Vornado Realty Trust by 36.6% during the 4th quarter. Meeder Asset Management Inc. now owns 1,202 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 67.14% of the company’s stock.
A number of research firms have commented on VNO. Morgan Stanley boosted their price target on shares of Vornado Realty Trust from $37.00 to $41.00 and gave the stock an “underweight” rating in a research report on Friday, April 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Vornado Realty Trust from $41.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, April 19th. Zacks Investment Research upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating and set a $46.00 price target on the stock in a research report on Friday, February 26th. Finally, Bank of America restated an “underperform” rating and set a $44.00 price target (down from $48.00) on shares of Vornado Realty Trust in a research report on Tuesday, April 20th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.86.
Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, May 3rd. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.57). Vornado Realty Trust had a positive return on equity of 1.70% and a negative net margin of 20.09%. The business had revenue of $379.98 million during the quarter, compared to the consensus estimate of $377.79 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm’s revenue for the quarter was down 14.5% compared to the same quarter last year. As a group, analysts forecast that Vornado Realty Trust will post 2.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 21st. Investors of record on Monday, May 10th were issued a $0.53 dividend. The ex-dividend date was Friday, May 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.22%. Vornado Realty Trust’s payout ratio is currently 83.79%.
Vornado Realty Trust Company Profile
Vornado's portfolio is concentrated in the nation's key market Â New York City Â 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.
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