Vornado Realty Trust (VNO) Position Boosted by Wells Fargo & Company MN
Wells Fargo & Company MN raised its holdings in shares of Vornado Realty Trust (NYSE:VNO) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,458 shares of the real estate investment trust’s stock after buying an additional 16,370 shares during the quarter. Wells Fargo & Company MN owned about 0.13% of Vornado Realty Trust worth $18,366,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of VNO. Sentry Investments Corp. purchased a new position in shares of Vornado Realty Trust in the 1st quarter worth about $249,000. IBM Retirement Fund boosted its holdings in shares of Vornado Realty Trust by 47.6% in the 1st quarter. IBM Retirement Fund now owns 3,799 shares of the real estate investment trust’s stock worth $256,000 after purchasing an additional 1,226 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Vornado Realty Trust in the 1st quarter worth about $276,000. Northstar Group Inc. purchased a new position in shares of Vornado Realty Trust in the 2nd quarter worth about $303,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Vornado Realty Trust in the 2nd quarter worth about $325,000. Institutional investors and hedge funds own 79.14% of the company’s stock.
NYSE VNO opened at $76.80 on Friday. Vornado Realty Trust has a 1-year low of $64.13 and a 1-year high of $80.30. The company has a debt-to-equity ratio of 2.41, a current ratio of 5.62 and a quick ratio of 5.62. The stock has a market capitalization of $14.42 billion, a PE ratio of 20.59, a P/E/G ratio of 9.20 and a beta of 0.88.
The business also recently announced a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Monday, August 6th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, August 3rd. Vornado Realty Trust’s dividend payout ratio (DPR) is presently 67.56%.
A number of equities analysts have recently issued reports on VNO shares. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price objective on shares of Vornado Realty Trust in a report on Monday, July 30th. ValuEngine cut Vornado Realty Trust from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 22nd. Deutsche Bank cut their price objective on Vornado Realty Trust from $82.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, June 26th. Morgan Stanley cut their price objective on Vornado Realty Trust from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, June 14th. Finally, Evercore ISI upgraded Vornado Realty Trust from an “in-line” rating to an “outperform” rating in a report on Monday, June 11th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Vornado Realty Trust currently has a consensus rating of “Buy” and a consensus target price of $80.44.
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 2017.
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