Forward Management LLC Sells 1,000 Shares of Vornado Realty Trust (VNO)
Forward Management LLC decreased its position in Vornado Realty Trust (NYSE:VNO) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,800 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. Forward Management LLC’s holdings in Vornado Realty Trust were worth $2,798,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in shares of Vornado Realty Trust by 62.1% in the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 419 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of Vornado Realty Trust by 62.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,300 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 500 shares during the period. Perigon Wealth Management LLC bought a new stake in shares of Vornado Realty Trust during the first quarter worth approximately $139,000. Advisors Asset Management Inc. boosted its stake in shares of Vornado Realty Trust by 98.9% in the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 741 shares during the period. Finally, Exane Asset Management bought a new stake in shares of Vornado Realty Trust during the second quarter worth approximately $187,000. Institutional investors own 87.10% of the company’s stock.
Vornado Realty Trust (VNO) opened at 77.88 on Thursday. The firm has a 50-day moving average price of $77.49 and a 200-day moving average price of $80.41. Vornado Realty Trust has a 1-year low of $69.81 and a 1-year high of $90.32. The firm has a market capitalization of $14.76 billion, a PE ratio of 16.82 and a beta of 0.97.
Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.09. Vornado Realty Trust had a return on equity of 4.51% and a net margin of 37.96%. The firm had revenue of $626.04 million during the quarter, compared to analyst estimates of $633.19 million. During the same period last year, the company posted $1.21 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts expect that Vornado Realty Trust will post $1.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, August 3rd. Vornado Realty Trust’s dividend payout ratio (DPR) is presently 51.72%.
A number of brokerages recently commented on VNO. BidaskClub raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Citigroup Inc. decreased their price objective on Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, July 19th. Bank of America Corporation reaffirmed a “buy” rating and set a $113.00 price objective (up from $112.00) on shares of Vornado Realty Trust in a research note on Thursday, June 22nd. Zacks Investment Research cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $95.00 price objective (down from $111.00) on shares of Vornado Realty Trust in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Vornado Realty Trust currently has an average rating of “Hold” and a consensus price target of $100.75.
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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