State Treasurer State of Michigan raised its position in Vornado Realty Trust (NYSE:VNO) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,650 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Vornado Realty Trust were worth $5,319,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in VNO. Levin Capital Strategies L.P. raised its stake in shares of Vornado Realty Trust by 2.8% in the first quarter. Levin Capital Strategies L.P. now owns 208,148 shares of the real estate investment trust’s stock valued at $20,879,000 after buying an additional 5,610 shares during the period. Clinton Group Inc. purchased a new stake in shares of Vornado Realty Trust during the first quarter valued at $11,386,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Vornado Realty Trust during the first quarter valued at $841,000. FIL Ltd raised its stake in shares of Vornado Realty Trust by 34.2% in the first quarter. FIL Ltd now owns 82,623 shares of the real estate investment trust’s stock valued at $8,288,000 after buying an additional 21,057 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Vornado Realty Trust by 521.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 28,177 shares of the real estate investment trust’s stock valued at $2,646,000 after buying an additional 23,641 shares during the period. Institutional investors own 87.19% of the company’s stock.
Shares of Vornado Realty Trust (NYSE VNO) traded down 1.85% during midday trading on Friday, hitting $73.91. The stock had a trading volume of 1,098,317 shares. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of 15.96 and a beta of 0.97. The stock has a 50 day moving average price of $77.51 and a 200-day moving average price of $94.13. Vornado Realty Trust has a 52 week low of $73.48 and a 52 week high of $111.72.
Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.09. The firm had revenue of $626.04 million for the quarter, compared to analyst estimates of $633.19 million. Vornado Realty Trust had a return on equity of 4.51% and a net margin of 37.96%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. Equities research analysts anticipate that Vornado Realty Trust will post $1.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.40 annualized dividend and a yield of 3.25%. Vornado Realty Trust’s dividend payout ratio is presently 51.72%.
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Several analysts have recently weighed in on VNO shares. Evercore ISI restated an “in-line” rating and issued a $107.00 price objective (down previously from $111.00) on shares of Vornado Realty Trust in a report on Thursday, May 4th. Deutsche Bank AG cut their price objective on Vornado Realty Trust from $105.00 to $103.00 and set a “hold” rating for the company in a report on Thursday, May 25th. BidaskClub upgraded Vornado Realty Trust from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Morgan Stanley restated an “equal weight” rating and issued a $95.00 price objective (down previously from $111.00) on shares of Vornado Realty Trust in a report on Tuesday, June 13th. Finally, Zacks Investment Research lowered Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Two equities 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 stock presently has an average rating of “Hold” and an average target price of $100.75.
Vornado Realty Trust Company Profile
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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