Franklin Resources Inc. Boosts Position in Vornado Realty Trust (VNO)
Franklin Resources Inc. increased its position in shares of Vornado Realty Trust (NYSE:VNO) by 767.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,126,678 shares of the real estate investment trust’s stock after buying an additional 1,881,473 shares during the quarter. Franklin Resources Inc. owned about 1.12% of Vornado Realty Trust worth $199,694,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Vornado Realty Trust by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 24,521,890 shares of the real estate investment trust’s stock worth $2,459,792,000 after buying an additional 457,208 shares during the period. BlackRock Inc. raised its stake in Vornado Realty Trust by 2,605.3% during the 1st quarter. BlackRock Inc. now owns 15,932,961 shares of the real estate investment trust’s stock worth $1,598,235,000 after buying an additional 15,344,015 shares during the period. JPMorgan Chase & Co. raised its stake in Vornado Realty Trust by 28.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,869,084 shares of the real estate investment trust’s stock worth $551,106,000 after buying an additional 1,284,107 shares during the period. Bank of New York Mellon Corp raised its stake in Vornado Realty Trust by 12.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,577,899 shares of the real estate investment trust’s stock worth $429,864,000 after buying an additional 524,562 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Vornado Realty Trust by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,326,506 shares of the real estate investment trust’s stock worth $233,372,000 after buying an additional 26,863 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Vornado Realty Trust (VNO) opened at 73.90 on Friday. The stock has a 50 day moving average price of $76.34 and a 200 day moving average price of $78.73. The stock has a market capitalization of $14.00 billion, a P/E ratio of 15.96 and a beta of 0.99. Vornado Realty Trust has a 52 week low of $69.81 and a 52 week high of $90.32.
Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.09. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. The firm had revenue of $626.04 million during the quarter, compared to analyst estimates of $633.19 million. During the same period last year, the business earned $1.21 earnings per share. The business’s revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Vornado Realty Trust will post $1.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.40 annualized dividend and a dividend yield of 3.25%. Vornado Realty Trust’s payout ratio is 51.72%.
VNO has been the topic of a number of research reports. BidaskClub raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Morgan Stanley reissued an “equal weight” rating and issued a $78.00 price objective (down from $81.00) on shares of Vornado Realty Trust in a research note on Friday, September 1st. TheStreet downgraded Vornado Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Barclays PLC lowered their price objective on Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Finally, Evercore ISI raised Vornado Realty Trust from an “in-line” rating to an “outperform” rating and set a $106.00 price objective for the company in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $96.30.
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Vornado Realty Trust 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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