Summit Global Investments acquired a new position in Vornado Realty Trust (NYSE:VNO) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,981 shares of the real estate investment trust’s stock, valued at approximately $1,125,000.
A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Vornado Realty Trust by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 24,521,890 shares of the real estate investment trust’s stock worth $2,459,792,000 after buying an additional 457,208 shares in the last quarter. BlackRock Inc. grew its holdings in Vornado Realty Trust by 2,605.3% in the 1st quarter. BlackRock Inc. now owns 15,932,961 shares of the real estate investment trust’s stock worth $1,598,235,000 after buying an additional 15,344,015 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Vornado Realty Trust by 28.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,869,084 shares of the real estate investment trust’s stock worth $551,106,000 after buying an additional 1,284,107 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Vornado Realty Trust by 12.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,577,899 shares of the real estate investment trust’s stock worth $429,864,000 after buying an additional 524,562 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Vornado Realty Trust by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,326,506 shares of the real estate investment trust’s stock worth $233,372,000 after buying an additional 26,863 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.
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Shares of Vornado Realty Trust (NYSE VNO) traded up 1.16% during trading on Monday, reaching $74.76. The company’s stock had a trading volume of 94,970 shares. The company’s 50-day moving average is $76.27 and its 200-day moving average is $78.58. The company has a market capitalization of $14.16 billion, a P/E ratio of 16.15 and a beta of 0.99. Vornado Realty Trust has a 12 month low of $69.81 and a 12 month high of $90.32.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $626.04 million during the quarter, compared to analyst estimates of $633.19 million. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. Vornado Realty Trust’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 earnings per share. On average, analysts forecast that Vornado Realty Trust will post $1.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 3rd. Vornado Realty Trust’s dividend payout ratio is currently 51.72%.
A number of equities analysts recently issued reports on VNO shares. Bank of America Corporation reissued a “buy” rating and issued a $113.00 price objective (up from $112.00) on shares of Vornado Realty Trust in a report on Thursday, June 22nd. BidaskClub raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Evercore ISI reissued an “outperform” rating and issued a $86.00 price objective (down from $106.00) on shares of Vornado Realty Trust in a report on Friday, July 21st. Barclays PLC decreased their price objective on Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. Finally, Stifel Nicolaus lowered Vornado Realty Trust from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $86.00 to $77.00 in a report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $96.30.
Vornado Realty Trust 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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