Bank of New York Mellon Corp Has $51.74 Million Stock Position in Vornado Realty Trust (NYSE:VNO)

Posted by Defense World Staff on Mar 11th, 2023

Bank of New York Mellon Corp boosted its position in shares of Vornado Realty Trust (NYSE:VNO – Get Rating) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,233,871 shares of the real estate investment trust’s stock after purchasing an additional 134,092 shares during the period. Bank of New York Mellon Corp owned 1.16% of Vornado Realty Trust worth $51,736,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wipfli Financial Advisors LLC acquired a new stake in Vornado Realty Trust during the third quarter valued at $28,000. Parkside Financial Bank & Trust lifted its position in shares of Vornado Realty Trust by 170.0% in the first quarter. Parkside Financial Bank & Trust now owns 1,277 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 804 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Vornado Realty Trust by 540.6% in the third quarter. SOA Wealth Advisors LLC. now owns 1,294 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,092 shares during the last quarter. Allworth Financial LP lifted its position in shares of Vornado Realty Trust by 40,700.0% in the third quarter. Allworth Financial LP now owns 1,632 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,628 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Vornado Realty Trust by 223.0% in the second quarter. Federated Hermes Inc. now owns 1,938 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 1,338 shares during the last quarter. Institutional investors and hedge funds own 75.97% of the company’s stock.

Vornado Realty Trust Stock Performance

NYSE VNO opened at $17.11 on Friday. Vornado Realty Trust has a twelve month low of $16.77 and a twelve month high of $47.26. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.03 and a quick ratio of 5.03. The stock has a 50-day simple moving average of $21.93 and a 200 day simple moving average of $23.20.

Vornado Realty Trust (NYSE:VNO – Get Rating) last issued its quarterly earnings results on Monday, February 13th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.57). Vornado Realty Trust had a negative net margin of 19.25% and a positive return on equity of 3.01%. The firm had revenue of $446.94 million for the quarter, compared to the consensus estimate of $452.88 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, research analysts forecast that Vornado Realty Trust will post 2.72 EPS for the current fiscal year.

Vornado Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 10th. Investors of record on Monday, January 30th were paid a dividend of $0.375 per share. The ex-dividend date was Friday, January 27th. This represents a $1.50 annualized dividend and a yield of 8.77%. Vornado Realty Trust’s dividend payout ratio is -70.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VNO. TheStreet cut Vornado Realty Trust from a “c-” rating to a “d+” rating in a research report on Wednesday, February 15th. Citigroup cut Vornado Realty Trust from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $24.00 to $19.00 in a research report on Wednesday, December 14th. Deutsche Bank Aktiengesellschaft reduced their price target on Vornado Realty Trust from $25.00 to $22.00 in a research report on Wednesday, January 4th. Morgan Stanley cut their price objective on Vornado Realty Trust from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Truist Financial cut their price objective on Vornado Realty Trust to $28.00 in a research report on Wednesday, November 16th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Vornado Realty Trust presently has an average rating of “Hold” and an average target price of $22.00.

About Vornado Realty Trust

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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.