Vornado Realty Trust (NYSE:VNO) Shares Sold by Vestcor Inc

Vestcor Inc reduced its stake in Vornado Realty Trust (NYSE:VNO) by 87.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,484 shares of the real estate investment trust’s stock after selling 124,293 shares during the period. Vestcor Inc’s holdings in Vornado Realty Trust were worth $728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of Vornado Realty Trust by 428.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,820,958 shares of the real estate investment trust’s stock valued at $111,146,000 after buying an additional 2,286,997 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Vornado Realty Trust by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,801,260 shares of the real estate investment trust’s stock worth $110,370,000 after purchasing an additional 149,017 shares during the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of Vornado Realty Trust by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after purchasing an additional 612,765 shares in the last quarter. Bamco Inc. NY acquired a new stake in shares of Vornado Realty Trust in the 3rd quarter valued at about $75,347,000. Finally, Bank of New York Mellon Corp grew its stake in Vornado Realty Trust by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,543,096 shares of the real estate investment trust’s stock worth $40,568,000 after buying an additional 24,322 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Stock Performance

Shares of VNO stock opened at $44.20 on Friday. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 1.93. The stock has a 50 day simple moving average of $42.45 and a 200-day simple moving average of $34.58. The company has a market cap of $8.43 billion, a price-to-earnings ratio of -152.41 and a beta of 1.63. Vornado Realty Trust has a 12-month low of $22.42 and a 12-month high of $46.63.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.61). The business had revenue of $443.26 million during the quarter, compared to analysts’ expectations of $445.07 million. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. On average, equities analysts forecast that Vornado Realty Trust will post 2.16 EPS for the current year.

Vornado Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a $0.74 dividend. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.96 annualized dividend and a dividend yield of 6.70%. Vornado Realty Trust’s dividend payout ratio (DPR) is -103.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VNO. Piper Sandler reissued a “neutral” rating and issued a $44.00 price objective (up from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. Truist Financial upped their target price on shares of Vornado Realty Trust from $31.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. StockNews.com raised Vornado Realty Trust to a “sell” rating in a report on Tuesday, November 12th. Bank of America upped their price objective on Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Finally, Barclays lifted their target price on Vornado Realty Trust from $27.00 to $34.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.58.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.