Cadence Capital Management LLC Sells 3,409 Shares of Vornado Realty Trust (VNO)
Cadence Capital Management LLC lowered its stake in Vornado Realty Trust (NYSE:VNO) by 26.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,468 shares of the real estate investment trust’s stock after selling 3,409 shares during the period. Cadence Capital Management LLC’s holdings in Vornado Realty Trust were worth $740,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Fieldpoint Private Securities LLC purchased a new stake in Vornado Realty Trust in the 3rd quarter valued at approximately $100,000. West Oak Capital LLC purchased a new stake in Vornado Realty Trust in the 4th quarter valued at approximately $138,000. Huntington National Bank lifted its stake in Vornado Realty Trust by 167.3% in the 4th quarter. Huntington National Bank now owns 1,903 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 1,191 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Vornado Realty Trust by 56.2% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,996 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 718 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its stake in Vornado Realty Trust by 56.5% in the 2nd quarter. Perigon Wealth Management LLC now owns 2,175 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 785 shares in the last quarter. 85.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on VNO shares. Barclays reaffirmed a “hold” rating and issued a $75.00 target price on shares of Vornado Realty Trust in a research note on Wednesday, January 31st. Zacks Investment Research lowered Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. lowered Vornado Realty Trust from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research note on Friday, December 15th. SunTrust Banks upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. Finally, TheStreet upgraded Vornado Realty Trust from a “c+” rating to a “b-” rating in a report on Monday, December 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $89.45.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The company had revenue of $536.23 million during the quarter, compared to the consensus estimate of $532.81 million. Vornado Realty Trust had a return on equity of 4.73% and a net margin of 35.23%. Vornado Realty Trust’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.43 EPS. equities research analysts anticipate that Vornado Realty Trust will post 3.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, January 29th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.74%. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 26th. Vornado Realty Trust’s dividend payout ratio is presently 60.87%.
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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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