Cwm LLC raised its position in Vornado Realty Trust (NYSE:VNO – Get Rating) by 179.9% in the third quarter, HoldingsChannel reports. The fund owned 2,382 shares of the real estate investment trust’s stock after purchasing an additional 1,531 shares during the quarter. Cwm LLC’s holdings in Vornado Realty Trust were worth $55,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of VNO. State Street Corp grew its position in Vornado Realty Trust by 10.8% in the 1st quarter. State Street Corp now owns 13,527,974 shares of the real estate investment trust’s stock valued at $613,088,000 after purchasing an additional 1,319,443 shares during the period. Millennium Management LLC grew its holdings in shares of Vornado Realty Trust by 1,840.4% during the second quarter. Millennium Management LLC now owns 1,335,925 shares of the real estate investment trust’s stock valued at $38,194,000 after buying an additional 1,267,078 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Vornado Realty Trust by 22.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,868,704 shares of the real estate investment trust’s stock worth $139,196,000 after acquiring an additional 891,435 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Vornado Realty Trust by 10.9% in the 2nd quarter. Franklin Resources Inc. now owns 7,854,642 shares of the real estate investment trust’s stock worth $224,563,000 after acquiring an additional 773,547 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its position 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 acquiring an additional 548,691 shares in the last quarter. Institutional investors own 75.97% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on VNO. Morgan Stanley lowered their price objective on Vornado Realty Trust from $24.00 to $19.00 and set an “underweight” rating for the company in a research note on Wednesday, November 23rd. Truist Financial dropped their price objective on Vornado Realty Trust to $28.00 in a research note on Wednesday, November 16th. Piper Sandler reduced their target price on shares of 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. Mizuho raised shares of Vornado Realty Trust from an “underperform” rating to a “neutral” rating and dropped their price target for the company from $25.00 to $23.00 in a research report on Wednesday, January 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Vornado Realty Trust from $25.00 to $22.00 in a research report on Wednesday, January 4th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.88.
Vornado Realty Trust Stock Performance
Vornado Realty Trust Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Monday, January 30th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, January 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.77%. Vornado Realty Trust’s dividend payout ratio (DPR) is presently 424.00%.
Vornado Realty Trust 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 2019.
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