Principal Financial Group Inc. grew its position in Vornado Realty Trust (NYSE:VNO – Free Report) by 428.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,820,958 shares of the real estate investment trust’s stock after acquiring an additional 2,286,997 shares during the period. Principal Financial Group Inc. owned 1.48% of Vornado Realty Trust worth $111,146,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. increased its holdings in Vornado Realty Trust by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 11,107,586 shares of the real estate investment trust’s stock valued at $444,859,000 after purchasing an additional 592,412 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Vornado Realty Trust by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,106,295 shares of the real estate investment trust’s stock worth $122,417,000 after purchasing an additional 39,147 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Vornado Realty Trust by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,801,260 shares of the real estate investment trust’s stock valued at $110,370,000 after buying an additional 149,017 shares in the last quarter. Duff & Phelps Investment Management Co. raised its holdings in shares of Vornado Realty Trust by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock valued at $51,875,000 after buying an additional 612,765 shares during the last quarter. Finally, Bamco Inc. NY acquired a new position in Vornado Realty Trust during the 3rd quarter worth about $75,347,000. 90.02% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
VNO has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their target price on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research note on Thursday, September 12th. Barclays boosted their price objective on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a research report on Tuesday, November 12th. Evercore ISI upped their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Compass Point raised their target price on Vornado Realty Trust from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Three 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.58.
Vornado Realty Trust Price Performance
Shares of VNO opened at $41.51 on Friday. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93. Vornado Realty Trust has a twelve month low of $22.42 and a twelve month high of $46.63. The stock has a market capitalization of $7.91 billion, a P/E ratio of -143.14 and a beta of 1.63. The company has a 50 day moving average of $42.85 and a 200-day moving average of $35.38.
Vornado Realty Trust (NYSE:VNO – Get Free Report) last released its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The business had revenue of $443.26 million during the quarter, compared to the consensus estimate of $445.07 million. During the same period last year, the business posted $0.66 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Vornado Realty Trust will post 2.16 EPS for the current fiscal year.
Vornado Realty Trust Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be given a $0.74 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 7.13%. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.30. Vornado Realty Trust’s payout ratio is currently -255.17%.
About Vornado Realty Trust
Vornado Realty Trust is a fully – integrated equity real estate investment trust.
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