Vornado Realty Trust (NYSE:VNO - Get Free Report) shot up 4.7% during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $44.31 and last traded at $44.38. 549,394 shares were traded during mid-day trading, a decline of 51% from the average session volume of 1,117,767 shares. The stock had previously closed at $42.37.
The real estate investment trust reported $0.61 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.66. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%.
Vornado Realty Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.74 dividend. This is a boost from Vornado Realty Trust's previous quarterly dividend of $0.30. The ex-dividend date was Monday, December 16th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 6.99%. Vornado Realty Trust's dividend payout ratio is 1,850.00%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on VNO shares. Truist Financial upped their price objective on shares of Vornado Realty Trust from $31.00 to $40.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed a "neutral" rating and issued a $44.00 price objective (up previously from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. StockNews.com raised shares of Vornado Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday. Compass Point upped their price objective on shares of Vornado Realty Trust from $40.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Barclays upped their price objective on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the company an "underweight" rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Vornado Realty Trust currently has a consensus rating of "Hold" and an average target price of $37.98.
Get Our Latest Stock Report on Vornado Realty Trust
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in VNO. Sanctuary Advisors LLC bought a new position in Vornado Realty Trust in the 2nd quarter worth $212,000. Creative Planning increased its stake in shares of Vornado Realty Trust by 16.5% in the 3rd quarter. Creative Planning now owns 30,971 shares of the real estate investment trust's stock worth $1,220,000 after acquiring an additional 4,389 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Vornado Realty Trust by 15.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,906 shares of the real estate investment trust's stock worth $1,257,000 after acquiring an additional 4,219 shares in the last quarter. Vert Asset Management LLC increased its stake in shares of Vornado Realty Trust by 0.5% in the 3rd quarter. Vert Asset Management LLC now owns 68,282 shares of the real estate investment trust's stock worth $2,690,000 after acquiring an additional 324 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Vornado Realty Trust by 331.0% in the 3rd quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 844 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors.
Vornado Realty Trust Stock Performance
The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 1.93. The company's 50 day moving average is $42.13 and its 200-day moving average is $39.46. The company has a market capitalization of $8.08 billion, a P/E ratio of -146.08 and a beta of 1.62.
Vornado Realty Trust Company Profile
(
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Vornado Realty Trust is a fully - integrated equity real estate investment trust.
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