Korea Investment CORP Trims Stake in Vornado Realty Trust (VNO)
Korea Investment CORP cut its stake in shares of Vornado Realty Trust (NYSE:VNO) by 32.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,200 shares of the real estate investment trust’s stock after selling 4,389 shares during the quarter. Korea Investment CORP’s holdings in Vornado Realty Trust were worth $672,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of VNO. Daiwa Securities Group Inc. increased its position in shares of Vornado Realty Trust by 3,128.9% during the third quarter. Daiwa Securities Group Inc. now owns 1,226,412 shares of the real estate investment trust’s stock worth $89,528,000 after acquiring an additional 1,188,430 shares during the period. V3 Capital Management L.P. purchased a new position in shares of Vornado Realty Trust during the second quarter worth approximately $41,617,000. American Century Companies Inc. purchased a new position in shares of Vornado Realty Trust during the third quarter worth approximately $30,569,000. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Vornado Realty Trust by 140.4% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 537,228 shares of the real estate investment trust’s stock worth $39,218,000 after acquiring an additional 313,770 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Vornado Realty Trust during the second quarter worth approximately $21,243,000. 79.19% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on VNO shares. ValuEngine lowered shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Zacks Investment Research raised shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Monday, October 1st. Citigroup cut their price objective on shares of Vornado Realty Trust from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, October 29th. BMO Capital Markets reissued a “buy” rating and set a $85.00 price objective on shares of Vornado Realty Trust in a report on Monday, October 29th. Finally, Sandler O’Neill lowered shares of Vornado Realty Trust from a “buy” rating to a “hold” rating in a report on Monday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $79.80.
Shares of VNO stock opened at $70.66 on Friday. The company has a market cap of $13.47 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 4.64 and a beta of 0.92. The company has a debt-to-equity ratio of 2.36, a quick ratio of 4.64 and a current ratio of 4.64. Vornado Realty Trust has a 52-week low of $64.13 and a 52-week high of $79.56.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The business had revenue of $542.05 million for the quarter, compared to analysts’ expectations of $544.62 million. Vornado Realty Trust had a net margin of 16.89% and a return on equity of 8.55%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. Sell-side analysts anticipate that Vornado Realty Trust will post 3.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Monday, November 5th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.57%. The ex-dividend date was Friday, November 2nd. Vornado Realty Trust’s payout ratio is 67.56%.
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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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