Bank of Nova Scotia Has $389,000 Position in Vornado Realty Trust (NYSE:VNO)

Bank of Nova Scotia cut its holdings in shares of Vornado Realty Trust (NYSE:VNOGet Rating) by 62.6% during the second quarter, Holdings Channel reports. The fund owned 13,599 shares of the real estate investment trust’s stock after selling 22,728 shares during the quarter. Bank of Nova Scotia’s holdings in Vornado Realty Trust were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp increased its holdings in shares of Vornado Realty Trust by 10.8% during the 1st quarter. State Street Corp now owns 13,527,974 shares of the real estate investment trust’s stock worth $613,088,000 after acquiring an additional 1,319,443 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Vornado Realty Trust by 12.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,061,281 shares of the real estate investment trust’s stock valued at $93,416,000 after purchasing an additional 230,938 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Vornado Realty Trust by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,008,628 shares of the real estate investment trust’s stock valued at $91,031,000 after purchasing an additional 67,492 shares during the period. Private Management Group Inc. boosted its stake in Vornado Realty Trust by 10.1% in the 2nd quarter. Private Management Group Inc. now owns 942,968 shares of the real estate investment trust’s stock valued at $26,959,000 after purchasing an additional 86,551 shares during the period. Finally, Pinebridge Investments L.P. boosted its stake in Vornado Realty Trust by 177.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 857,905 shares of the real estate investment trust’s stock valued at $24,528,000 after purchasing an additional 548,691 shares during the period. 74.67% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Price Performance

Shares of VNO stock opened at $23.98 on Monday. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.52. Vornado Realty Trust has a twelve month low of $20.03 and a twelve month high of $47.26. The company has a market cap of $4.60 billion, a P/E ratio of 47.96, a P/E/G ratio of 2.36 and a beta of 1.24. The business has a fifty day simple moving average of $23.69 and a 200 day simple moving average of $27.99.

Vornado Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $2.12 annualized dividend and a dividend yield of 8.84%. Vornado Realty Trust’s dividend payout ratio is currently 424.00%.

Analyst Ratings Changes

VNO has been the subject of several recent research reports. Piper Sandler reduced their price target on Vornado Realty Trust from $20.00 to $17.00 and set an “underweight” rating for the company in a research note on Friday, October 7th. Deutsche Bank Aktiengesellschaft reduced their price target on Vornado Realty Trust from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 13th. Mizuho reduced their price target on Vornado Realty Trust from $30.00 to $25.00 and set an “underperform” rating for the company in a research note on Wednesday, October 19th. Truist Financial cut their target price on Vornado Realty Trust to $28.00 in a research report on Wednesday, November 16th. Finally, StockNews.com downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Vornado Realty Trust has an average rating of “Hold” and an average target price of $27.14.

Vornado Realty Trust Company Profile

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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 2019.

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

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