Northern Trust Corp increased its holdings in Vornado Realty Trust (NYSE:VNO) by 2.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,892,911 shares of the real estate investment trust’s stock after acquiring an additional 65,059 shares during the period. Northern Trust Corp owned approximately 1.52% of Vornado Realty Trust worth $185,437,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. 6 Meridian lifted its holdings in shares of Vornado Realty Trust by 2.4% in the 2nd quarter. 6 Meridian now owns 7,460 shares of the real estate investment trust’s stock worth $478,000 after acquiring an additional 175 shares during the last quarter. World Asset Management Inc boosted its position in shares of Vornado Realty Trust by 1.6% during the second quarter. World Asset Management Inc now owns 13,419 shares of the real estate investment trust’s stock worth $860,000 after buying an additional 207 shares during the period. Retirement Systems of Alabama grew its stake in shares of Vornado Realty Trust by 0.3% in the second quarter. Retirement Systems of Alabama now owns 80,957 shares of the real estate investment trust’s stock valued at $5,189,000 after buying an additional 220 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Vornado Realty Trust by 1.0% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 26,347 shares of the real estate investment trust’s stock valued at $1,777,000 after buying an additional 253 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Vornado Realty Trust by 1.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 21,490 shares of the real estate investment trust’s stock valued at $1,377,000 after buying an additional 270 shares during the period. 77.70% of the stock is owned by institutional investors.
VNO has been the topic of several research reports. SunTrust Banks set a $72.00 target price on Vornado Realty Trust and gave the stock a “buy” rating in a research note on Monday, August 26th. Citigroup cut their price target on shares of Vornado Realty Trust from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. BMO Capital Markets reissued a “buy” rating and set a $79.00 price target on shares of Vornado Realty Trust in a research report on Wednesday, July 31st. Argus lowered shares of Vornado Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Finally, ValuEngine upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $74.88.
Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.72). The firm had revenue of $463.10 million for the quarter, compared to analysts’ expectations of $517.72 million. Vornado Realty Trust had a return on equity of 8.53% and a net margin of 139.71%. Vornado Realty Trust’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. As a group, equities research analysts predict that Vornado Realty Trust will post 3.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Friday, August 2nd. Vornado Realty Trust’s dividend payout ratio is presently 70.21%.
Vornado Realty Trust Profile
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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