Municipal Employees Retirement System of Michigan cut its position in shares of Vornado Realty Trust (NYSE:VNO) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,410 shares of the real estate investment trust’s stock after selling 1,100 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Vornado Realty Trust were worth $1,108,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in Vornado Realty Trust by 62.1% during the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 419 shares during the last quarter. Sun Life Financial INC boosted its stake in Vornado Realty Trust by 13,866.7% in the second quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 1,248 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in Vornado Realty Trust by 56.5% in the second quarter. Perigon Wealth Management LLC now owns 2,175 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 785 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Vornado Realty Trust by 48.3% in the second quarter. Advisors Asset Management Inc. now owns 2,209 shares of the real estate investment trust’s stock valued at $207,000 after acquiring an additional 719 shares during the last quarter. Finally, Parametrica Management Ltd boosted its stake in Vornado Realty Trust by 2.4% in the second quarter. Parametrica Management Ltd now owns 2,281 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 85.46% of the company’s stock.

A number of research analysts have weighed in on VNO shares. Zacks Investment Research upgraded shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Tuesday, October 17th. Sandler O’Neill reissued a “buy” rating and issued a $90.00 price target on shares of Vornado Realty Trust in a research report on Tuesday, September 26th. Argus raised shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Thursday, August 24th. Morgan Stanley reissued an “equal weight” rating and issued a $78.00 price target (down previously from $81.00) on shares of Vornado Realty Trust in a research report on Friday, September 1st. Finally, Barclays PLC reissued a “hold” rating and issued a $80.00 price target on shares of Vornado Realty Trust in a research report on Thursday, October 19th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $93.67.

ILLEGAL ACTIVITY WARNING: “Municipal Employees Retirement System of Michigan Has $1.11 Million Position in Vornado Realty Trust (VNO)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.watchlistnews.com/municipal-employees-retirement-system-of-michigan-has-1-11-million-position-in-vornado-realty-trust-vno/1719509.html.

Vornado Realty Trust (NYSE VNO) opened at $76.64 on Wednesday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.20. Vornado Realty Trust has a 12 month low of $71.89 and a 12 month high of $89.38. The company has a market cap of $14,480.09, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 4.56 and a beta of 0.99.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.90. Vornado Realty Trust had a net margin of 35.23% and a return on equity of 4.73%. The business had revenue of $528.76 million during the quarter, compared to analysts’ expectations of $545.53 million. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. sell-side analysts expect that Vornado Realty Trust will post 3.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 6th were paid 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 3.13%. Vornado Realty Trust’s dividend payout ratio (DPR) is 57.97%.

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.

Institutional Ownership by Quarter for Vornado Realty Trust (NYSE:VNO)

Receive News & Ratings for Vornado Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vornado Realty Trust and related companies with Analyst Ratings Network's FREE daily email newsletter.