Legal & General Group Plc raised its stake in shares of Vornado Realty Trust (NYSE:VNO) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,307,273 shares of the real estate investment trust’s stock after buying an additional 74,102 shares during the period. Legal & General Group Plc owned 0.69% of Vornado Realty Trust worth $122,750,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of VNO. Vanguard Group Inc. raised its position in shares of Vornado Realty Trust by 1.9% in the first quarter. Vanguard Group Inc. now owns 24,521,890 shares of the real estate investment trust’s stock valued at $2,459,792,000 after buying an additional 457,208 shares during the last quarter. BlackRock Inc. raised its position in shares of Vornado Realty Trust by 2,605.3% in the first quarter. BlackRock Inc. now owns 15,932,961 shares of the real estate investment trust’s stock valued at $1,598,235,000 after buying an additional 15,344,015 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Vornado Realty Trust by 14.2% in the first quarter. Daiwa Securities Group Inc. now owns 4,693,340 shares of the real estate investment trust’s stock valued at $470,789,000 after buying an additional 582,843 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Vornado Realty Trust by 8.7% in the first quarter. JPMorgan Chase & Co. now owns 4,584,977 shares of the real estate investment trust’s stock valued at $459,920,000 after buying an additional 367,657 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Vornado Realty Trust by 12.9% in the second quarter. Bank of New York Mellon Corp now owns 4,577,899 shares of the real estate investment trust’s stock valued at $429,864,000 after buying an additional 524,562 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vornado Realty Trust (NYSE:VNO) opened at 73.88 on Tuesday. The firm has a market cap of $14.00 billion, a P/E ratio of 15.96 and a beta of 0.97. Vornado Realty Trust has a 52 week low of $73.19 and a 52 week high of $111.72. The stock has a 50 day moving average of $77.45 and a 200 day moving average of $79.76.
Vornado Realty Trust (NYSE:VNO) last announced 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 return on equity of 4.51% and a net margin of 37.96%. The company had revenue of $626.04 million for the quarter, compared to analysts’ expectations of $633.19 million. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue was up .7% compared to the same quarter last year. Equities analysts forecast that Vornado Realty Trust will post $1.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Thursday, August 3rd. Vornado Realty Trust’s dividend payout ratio (DPR) is presently 51.72%.
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VNO has been the topic of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $95.00 price objective (down previously from $111.00) on shares of Vornado Realty Trust in a research report on Tuesday, June 13th. TheStreet lowered shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a research report on Tuesday, June 20th. Barclays PLC dropped their price target on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Deutsche Bank AG dropped their price target on shares of Vornado Realty Trust from $105.00 to $103.00 and set a “hold” rating on the stock in a research report on Thursday, May 25th. Finally, Citigroup Inc. dropped their price target on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $100.75.
About Vornado Realty Trust
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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