Teacher Retirement System of Texas purchased a new position in shares of Vornado Realty Trust (NYSE:VNO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 46,364 shares of the real estate investment trust’s stock, valued at approximately $3,625,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amica Pension Fund Board of Trustees acquired a new position in Vornado Realty Trust during the third quarter worth approximately $2,739,000. Ffcm LLC acquired a new position in Vornado Realty Trust during the third quarter worth approximately $1,044,000. Neuberger Berman Group LLC increased its position in Vornado Realty Trust by 13.2% during the third quarter. Neuberger Berman Group LLC now owns 537,094 shares of the real estate investment trust’s stock worth $41,292,000 after buying an additional 62,429 shares during the period. AMP Capital Investors Ltd increased its position in Vornado Realty Trust by 79.4% during the third quarter. AMP Capital Investors Ltd now owns 230,455 shares of the real estate investment trust’s stock worth $17,716,000 after buying an additional 101,986 shares during the period. Finally, Norinchukin Bank The increased its position in Vornado Realty Trust by 12.3% during the third quarter. Norinchukin Bank The now owns 13,422 shares of the real estate investment trust’s stock worth $1,032,000 after buying an additional 1,469 shares during the period. 85.51% of the stock is currently owned by institutional investors.
VNO has been the topic of several research analyst reports. TheStreet raised Vornado Realty Trust from a “c+” rating to a “b-” rating in a research report on Monday, December 18th. SunTrust Banks raised Vornado Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Sandler O’Neill set a $75.00 price target on Vornado Realty Trust and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered Vornado Realty Trust from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Finally, Barclays reaffirmed a “hold” rating and set a $75.00 price target on shares of Vornado Realty Trust in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $88.09.
Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. The business had revenue of $536.23 million for the quarter, compared to analyst estimates of $532.81 million. Vornado Realty Trust had a return on equity of 5.44% and a net margin of 9.10%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.43 earnings per share. sell-side analysts forecast that Vornado Realty Trust will post 3.88 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, January 29th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, January 26th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.72%. This is a positive change from Vornado Realty Trust’s previous quarterly dividend of $0.60. Vornado Realty Trust’s payout ratio is presently 296.47%.
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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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