V3 Capital Management L.P. lowered its position in shares of Vornado Realty Trust (NYSE:VNO) by 55.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 335,895 shares of the real estate investment trust’s stock after selling 414,850 shares during the period. Vornado Realty Trust accounts for 3.6% of V3 Capital Management L.P.’s holdings, making the stock its 6th biggest holding. V3 Capital Management L.P.’s holdings in Vornado Realty Trust were worth $26,260,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in VNO. Global Endowment Management LP grew its position in shares of Vornado Realty Trust by 248.6% during the fourth quarter. Global Endowment Management LP now owns 12,900 shares of the real estate investment trust’s stock worth $1,008,000 after buying an additional 9,200 shares in the last quarter. Amica Pension Fund Board of Trustees acquired a new position in Vornado Realty Trust during the 3rd quarter worth about $2,739,000. Ffcm LLC acquired a new position in Vornado Realty Trust during the 3rd quarter worth about $1,044,000. Neuberger Berman Group LLC lifted its holdings in Vornado Realty Trust by 13.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 537,094 shares of the real estate investment trust’s stock worth $41,292,000 after buying an additional 62,429 shares during the period. Finally, AMP Capital Investors Ltd lifted its holdings in Vornado Realty Trust by 79.4% during the 3rd quarter. AMP Capital Investors Ltd now owns 230,455 shares of the real estate investment trust’s stock worth $17,716,000 after buying an additional 101,986 shares during the period. Institutional investors own 88.82% of the company’s stock.
Several research analysts have commented on VNO shares. SunTrust Banks raised Vornado Realty Trust from a “hold” rating to a “buy” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. TheStreet raised Vornado Realty Trust from a “c+” rating to a “b-” rating in a report on Monday, December 18th. JPMorgan Chase & Co. downgraded Vornado Realty Trust from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a report on Friday, December 15th. Zacks Investment Research raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Friday. Finally, Barclays reaffirmed a “hold” rating and set a $75.00 target price on shares of Vornado Realty Trust in a report on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $87.25.
Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $536.23 million for the quarter, compared to the consensus estimate of $532.81 million. Vornado Realty Trust had a return on equity of 5.44% and a net margin of 9.10%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.43 EPS. research analysts predict that Vornado Realty Trust will post 3.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, January 29th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.70%. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 26th. Vornado Realty Trust’s payout ratio is currently 296.47%.
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About Vornado Realty Trust
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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