Verition Fund Management LLC raised its stake in Vornado Realty Trust (NYSE:VNO – Get Rating) by 8.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 27,877 shares of the real estate investment trust's stock after buying an additional 2,276 shares during the period. Verition Fund Management LLC's holdings in Vornado Realty Trust were worth $1,263,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. MCF Advisors LLC acquired a new stake in shares of Vornado Realty Trust during the first quarter worth about $37,000. Silvant Capital Management LLC raised its position in shares of Vornado Realty Trust by 317.2% during the first quarter. Silvant Capital Management LLC now owns 1,118 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 850 shares during the period. Herold Advisors Inc. acquired a new stake in shares of Vornado Realty Trust during the first quarter worth about $57,000. Parkside Financial Bank & Trust raised its position in shares of Vornado Realty Trust by 170.0% during the first quarter. Parkside Financial Bank & Trust now owns 1,277 shares of the real estate investment trust's stock worth $58,000 after purchasing an additional 804 shares during the period. Finally, Covestor Ltd raised its position in shares of Vornado Realty Trust by 1,588.8% during the first quarter. Covestor Ltd now owns 3,310 shares of the real estate investment trust's stock worth $150,000 after purchasing an additional 3,114 shares during the period. Institutional investors and hedge funds own 74.67% of the company's stock.
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VNO stock opened at $26.12 on Wednesday. The company has a quick ratio of 5.13, a current ratio of 5.13 and a debt-to-equity ratio of 1.53. The business has a 50 day moving average price of $28.26 and a two-hundred day moving average price of $34.14. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 39.58 and a beta of 1.29. Vornado Realty Trust has a twelve month low of $25.27 and a twelve month high of $47.26.
Vornado Realty Trust (NYSE:VNO – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.60). The company had revenue of $453.49 million during the quarter, compared to the consensus estimate of $430.43 million. Vornado Realty Trust had a net margin of 11.52% and a return on equity of 3.07%. The firm's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. Analysts anticipate that Vornado Realty Trust will post 3.1 EPS for the current fiscal year.Vornado Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were paid a $0.53 dividend. The ex-dividend date was Friday, August 5th. This represents a $2.12 dividend on an annualized basis and a yield of 8.12%. Vornado Realty Trust's dividend payout ratio is 321.22%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on VNO shares. Morgan Stanley dropped their price target on Vornado Realty Trust from $25.00 to $24.00 and set an "underweight" rating on the stock in a research report on Friday, September 9th. Evercore ISI dropped their price target on Vornado Realty Trust from $35.00 to $34.00 and set an "in-line" rating on the stock in a research report on Monday. BMO Capital Markets downgraded Vornado Realty Trust from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $52.00 to $40.00 in a report on Tuesday, May 31st. StockNews.com downgraded Vornado Realty Trust from a "hold" rating to a "sell" rating in a report on Thursday, September 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Vornado Realty Trust from $44.00 to $33.00 in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Vornado Realty Trust has an average rating of "Hold" and an average price target of $32.75.
About Vornado Realty Trust
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Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.
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