Skandinaviska Enskilda Banken AB publ raised its position in shares of Vornado Realty Trust (NYSE:VNO) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,630 shares of the real estate investment trust’s stock after purchasing an additional 3,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Vornado Realty Trust were worth $2,739,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BT Investment Management Ltd bought a new position in Vornado Realty Trust during the 2nd quarter valued at $2,647,000. State of Wisconsin Investment Board boosted its stake in Vornado Realty Trust by 3.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 175,374 shares of the real estate investment trust’s stock valued at $16,468,000 after purchasing an additional 5,492 shares in the last quarter. Andra AP fonden boosted its stake in shares of Vornado Realty Trust by 52.2% during the 2nd quarter. Andra AP fonden now owns 47,800 shares of the real estate investment trust’s stock worth $4,488,000 after acquiring an additional 16,400 shares in the last quarter. Summit Global Investments bought a new stake in shares of Vornado Realty Trust during the 2nd quarter worth $1,125,000. Finally, Commonwealth Bank of Australia boosted its stake in shares of Vornado Realty Trust by 2.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 554,808 shares of the real estate investment trust’s stock worth $42,100,000 after acquiring an additional 14,131 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on VNO. Zacks Investment Research lowered Vornado Realty Trust from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley reissued an “equal weight” rating and set a $78.00 price objective (down from $81.00) on shares of Vornado Realty Trust in a research note on Friday, September 1st. Sandler O’Neill reissued a “buy” rating and set a $90.00 price objective on shares of Vornado Realty Trust in a research note on Tuesday, September 26th. BidaskClub raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Stifel Nicolaus lowered Vornado Realty Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $86.00 to $77.00 in a research note on Wednesday, August 30th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $91.73.
Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, October 30th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.90. The company had revenue of $528.76 million during the quarter, compared to analyst estimates of $545.53 million. Vornado Realty Trust had a return on equity of 4.73% and a net margin of 35.23%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. equities research analysts expect that Vornado Realty Trust will post 3.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 6th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.12%. Vornado Realty Trust’s payout ratio is currently 57.97%.
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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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