JPMorgan Chase & Co. raised its stake in Vornado Realty Trust (NYSE:VNO - Free Report) by 232.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,529,069 shares of the real estate investment trust's stock after acquiring an additional 2,468,652 shares during the period. JPMorgan Chase & Co. owned about 1.85% of Vornado Realty Trust worth $139,045,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Vornado Realty Trust by 331.0% during the 3rd quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust's stock worth $43,000 after buying an additional 844 shares in the last quarter. Assetmark Inc. grew its holdings in Vornado Realty Trust by 122.2% during the third quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 661 shares during the period. Quarry LP bought a new stake in shares of Vornado Realty Trust in the 3rd quarter valued at $54,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vornado Realty Trust in the second quarter worth about $48,000. Finally, Farther Finance Advisors LLC raised its holdings in Vornado Realty Trust by 42.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,229 shares of the real estate investment trust's stock worth $88,000 after buying an additional 665 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on VNO shares. Piper Sandler restated a "neutral" rating and issued a $44.00 price target (up from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. Compass Point increased their price target on shares of Vornado Realty Trust from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Truist Financial lifted their target price on Vornado Realty Trust from $31.00 to $40.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Evercore ISI upped their price target on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Vornado Realty Trust to a "sell" rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $36.58.
Read Our Latest Research Report on VNO
Vornado Realty Trust Price Performance
Shares of NYSE VNO traded up $0.58 during midday trading on Thursday, reaching $42.62. 1,460,588 shares of the company were exchanged, compared to its average volume of 1,931,071. The stock's 50-day moving average price is $42.82 and its 200-day moving average price is $36.48. The stock has a market cap of $8.13 billion, a P/E ratio of -146.97 and a beta of 1.63. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93. Vornado Realty Trust has a one year low of $22.42 and a one year high of $46.63.
Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.61). The firm had revenue of $443.26 million during the quarter, compared to analyst estimates of $445.07 million. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. Vornado Realty Trust's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. On average, sell-side analysts anticipate that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.
Vornado Realty Trust Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.74 per share. This is a positive change from Vornado Realty Trust's previous quarterly dividend of $0.30. This represents a $2.96 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend was Monday, December 16th. Vornado Realty Trust's dividend payout ratio (DPR) is currently -255.17%.
About Vornado Realty Trust
(
Free Report)
Vornado Realty Trust is a fully - integrated equity real estate investment trust.
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