Sumitomo Mitsui Asset Management Company LTD trimmed its position in Vornado Realty Trust (NYSE:VNO) by 12.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,894 shares of the real estate investment trust’s stock after selling 2,668 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Vornado Realty Trust were worth $1,274,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its holdings in shares of Vornado Realty Trust by 8.7% during the fourth quarter. Van ECK Associates Corp now owns 42,152 shares of the real estate investment trust’s stock worth $2,615,000 after buying an additional 3,390 shares in the last quarter. Bank of Nova Scotia boosted its stake in Vornado Realty Trust by 6.2% during the fourth quarter. Bank of Nova Scotia now owns 37,079 shares of the real estate investment trust’s stock worth $2,300,000 after buying an additional 2,160 shares during the last quarter. Family Firm Inc. acquired a new position in Vornado Realty Trust during the first quarter worth $535,000. DNB Asset Management AS boosted its stake in Vornado Realty Trust by 2.3% during the fourth quarter. DNB Asset Management AS now owns 20,496 shares of the real estate investment trust’s stock worth $1,271,000 after buying an additional 468 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Vornado Realty Trust during the fourth quarter worth $235,000. Hedge funds and other institutional investors own 86.02% of the company’s stock.
VNO has been the topic of several recent research reports. Zacks Investment Research upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Morgan Stanley set a $72.00 price target on Vornado Realty Trust and gave the stock a “buy” rating in a report on Monday, April 22nd. BMO Capital Markets restated a “sell” rating and set a $82.00 price target on shares of Vornado Realty Trust in a report on Wednesday, April 24th. Finally, Deutsche Bank cut their price target on Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Vornado Realty Trust currently has an average rating of “Hold” and a consensus price target of $77.33.
Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.78). Vornado Realty Trust had a net margin of 28.76% and a return on equity of 10.19%. The business had revenue of $534.67 million during the quarter, compared to analysts’ expectations of $583.32 million. During the same quarter in the previous year, the company posted $0.30 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, analysts predict that Vornado Realty Trust will post 3.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a $0.66 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.97%. Vornado Realty Trust’s payout ratio is currently 70.21%.
About Vornado Realty Trust
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 2017.
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