Vornado Realty Trust (NYSE:VNO) Stake Reduced by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. lowered its stake in Vornado Realty Trust (NYSE:VNO) by 0.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 101,875 shares of the real estate investment trust’s stock after selling 200 shares during the period. Pictet Asset Management Ltd.’s holdings in Vornado Realty Trust were worth $9,393,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in VNO. Bessemer Group Inc. boosted its position in Vornado Realty Trust by 62.1% in the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 419 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in Vornado Realty Trust by 62.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,300 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 500 shares in the last quarter. Perigon Wealth Management LLC bought a new position in Vornado Realty Trust during the first quarter valued at about $139,000. Advisors Asset Management Inc. boosted its position in Vornado Realty Trust by 98.9% in the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 741 shares in the last quarter. Finally, Exane Asset Management bought a new position in Vornado Realty Trust during the second quarter valued at about $187,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vornado Realty Trust (NYSE VNO) opened at 76.93 on Tuesday. The firm’s 50-day moving average is $79.11 and its 200 day moving average is $94.86. The firm has a market capitalization of $14.58 billion, a P/E ratio of 16.62 and a beta of 0.97. Vornado Realty Trust has a 52 week low of $75.55 and a 52 week high of $111.72.
Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.09. The company had revenue of $626.04 million for the quarter, compared to analyst estimates of $633.19 million. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. Equities research analysts forecast that Vornado Realty Trust will post $1.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.40 annualized dividend and a yield of 3.12%. Vornado Realty Trust’s dividend payout ratio (DPR) is presently 51.72%.
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Several research firms have issued reports on VNO. Evercore ISI reaffirmed an “outperform” rating and issued a $87.00 price target (up previously from $86.00) on shares of Vornado Realty Trust in a report on Wednesday, August 2nd. Citigroup Inc. dropped their price target on Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, July 19th. BidaskClub cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $81.00 price target on shares of Vornado Realty Trust in a report on Saturday, July 22nd. Finally, Zacks Investment Research cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $100.75.
Vornado Realty Trust Company Profile
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.
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