Verition Fund Management LLC lowered its stake in shares of Vornado Realty Trust (NYSE:VNO – Get Rating) by 61.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,216 shares of the real estate investment trust’s stock after selling 47,850 shares during the period. Verition Fund Management LLC’s holdings in Vornado Realty Trust were worth $700,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp increased its stake in shares of Vornado Realty Trust by 3.3% during the second quarter. State Street Corp now owns 13,972,346 shares of the real estate investment trust’s stock worth $399,469,000 after purchasing an additional 444,372 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Vornado Realty Trust by 10.9% during the second quarter. Franklin Resources Inc. now owns 7,854,642 shares of the real estate investment trust’s stock worth $224,563,000 after purchasing an additional 773,547 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Vornado Realty Trust by 22.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,868,704 shares of the real estate investment trust’s stock worth $139,196,000 after purchasing an additional 891,435 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Vornado Realty Trust by 4.7% during the second quarter. Legal & General Group Plc now owns 2,476,397 shares of the real estate investment trust’s stock worth $70,800,000 after purchasing an additional 112,075 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Vornado Realty Trust by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,008,628 shares of the real estate investment trust’s stock worth $91,031,000 after acquiring an additional 67,492 shares during the last quarter. Hedge funds and other institutional investors own 75.97% of the company’s stock.
Analyst Upgrades and Downgrades
VNO has been the topic of a number of recent research reports. Citigroup lowered shares of Vornado Realty Trust from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $24.00 to $19.00 in a research report on Wednesday, December 14th. Morgan Stanley lowered their price target on shares of Vornado Realty Trust from $24.00 to $19.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 23rd. Argus lowered shares of Vornado Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. BMO Capital Markets lowered shares of Vornado Realty Trust from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $26.00 to $18.00 in a research report on Friday. Finally, StockNews.com lowered shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, January 3rd. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Vornado Realty Trust presently has a consensus rating of “Hold” and an average price target of $22.13.
Vornado Realty Trust Stock Down 0.5 %
Vornado Realty Trust (NYSE:VNO – Get Rating) last released its quarterly earnings results on Monday, February 13th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.57). The company had revenue of $446.94 million during the quarter, compared to analysts’ expectations of $452.88 million. Vornado Realty Trust had a negative net margin of 19.25% and a positive return on equity of 3.01%. Vornado Realty Trust’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. As a group, equities analysts anticipate that Vornado Realty Trust will post 2.73 earnings per share for the current fiscal year.
Vornado Realty Trust Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Monday, January 30th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date of this dividend was Friday, January 27th. Vornado Realty Trust’s dividend payout ratio (DPR) is -70.42%.
Vornado Realty Trust Profile
Vornado Realty Trust is a real estate investment trust, which engages in the ownership of office, retail, merchandise mart properties, and other real estate and related investments. It operates through the New York and Other segments. The company was founded by Steven Roth on March 29, 1993 and is headquartered in New York, NY.
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