Loeb Partners Corp Sells 1,900 Shares of Vornado Realty Trust (VNO)
Loeb Partners Corp reduced its stake in shares of Vornado Realty Trust (NYSE:VNO) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,380 shares of the real estate investment trust’s stock after selling 1,900 shares during the quarter. Vornado Realty Trust comprises about 1.5% of Loeb Partners Corp’s investment portfolio, making the stock its 21st largest holding. Loeb Partners Corp’s holdings in Vornado Realty Trust were worth $3,122,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of VNO. Enlightenment Research LLC bought a new stake in shares of Vornado Realty Trust during the fourth quarter valued at about $180,000. Federated Investors Inc. PA raised its stake in shares of Vornado Realty Trust by 22.1% during the third quarter. Federated Investors Inc. PA now owns 2,551 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 461 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Vornado Realty Trust during the fourth quarter valued at about $235,000. Ridgewood Investments LLC bought a new stake in shares of Vornado Realty Trust during the third quarter valued at about $254,000. Finally, Bridgewater Associates LP bought a new stake in shares of Vornado Realty Trust during the third quarter valued at about $263,000. Institutional investors and hedge funds own 80.09% of the company’s stock.
A number of equities research analysts recently weighed in on VNO shares. BMO Capital Markets restated a “buy” rating and set a $85.00 price objective on shares of Vornado Realty Trust in a research note on Monday, October 29th. JPMorgan Chase & Co. lowered Vornado Realty Trust from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $74.00 to $72.00 in a report on Wednesday, December 19th. Zacks Investment Research lowered Vornado Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. ValuEngine raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Sandler O’Neill lowered Vornado Realty Trust from a “buy” rating to a “hold” rating in a report on Monday, December 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Vornado Realty Trust currently has a consensus rating of “Hold” and an average target price of $78.60.
NYSE:VNO opened at $68.80 on Friday. The stock has a market cap of $13.11 billion, a P/E ratio of 18.30, a PEG ratio of 6.95 and a beta of 1.14. Vornado Realty Trust has a 52-week low of $59.48 and a 52-week high of $77.59. The company has a current ratio of 4.00, a quick ratio of 4.64 and a debt-to-equity ratio of 2.33.
Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, February 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.72). The firm had revenue of $543.42 million for the quarter, compared to analyst estimates of $544.79 million. Vornado Realty Trust had a return on equity of 8.15% and a net margin of 20.22%. During the same period in the previous year, the firm earned $1.10 earnings per share. Sell-side analysts anticipate that Vornado Realty Trust will post 3.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Monday, January 28th were issued a dividend of $0.66 per share. This is a positive change from Vornado Realty Trust’s previous quarterly dividend of $0.63. This represents a $2.64 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Friday, January 25th. Vornado Realty Trust’s payout ratio is presently 70.21%.
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Vornado Realty Trust Company 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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