9,916 Shares in Vornado Realty Trust (NYSE:VNO) Acquired by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. acquired a new position in shares of Vornado Realty Trust (NYSE:VNO – Get Rating) during the 3rd quarter, Holdings Channel reports. The fund acquired 9,916 shares of the real estate investment trust’s stock, valued at approximately $230,000.

Several other hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in shares of Vornado Realty Trust by 3.3% during the 2nd quarter. State Street Corp now owns 13,972,346 shares of the real estate investment trust’s stock worth $399,469,000 after acquiring an additional 444,372 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Vornado Realty Trust by 10.9% during 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Vornado Realty Trust by 22.4% during the 2nd 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. Legal & General Group Plc raised its holdings in shares of Vornado Realty Trust by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 2,476,397 shares of the real estate investment trust’s stock worth $70,800,000 after acquiring an additional 112,075 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Vornado Realty Trust by 3.5% during 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 last quarter. 75.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VNO. Citigroup downgraded Vornado Realty Trust from a “neutral” rating to a “sell” rating and cut their target price for the company from $24.00 to $19.00 in a research report on Wednesday, December 14th. Evercore ISI cut their target price on Vornado Realty Trust from $34.00 to $31.00 in a research report on Tuesday, September 27th. Argus downgraded Vornado Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. Truist Financial cut their target price on Vornado Realty Trust to $28.00 in a research report on Wednesday, November 16th. Finally, Mizuho raised Vornado Realty Trust from an “underperform” rating to a “neutral” rating and cut their target price for the company from $25.00 to $23.00 in a research report on Wednesday, January 4th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.88.

Vornado Realty Trust Stock Performance

Shares of Vornado Realty Trust stock opened at $22.11 on Wednesday. The stock’s fifty day moving average is $22.64 and its two-hundred day moving average is $24.84. The company has a market capitalization of $4.24 billion, a PE ratio of 44.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.29. 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 52 week low of $20.03 and a 52 week high of $47.26.

Vornado Realty Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Monday, January 30th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 6.78%. The ex-dividend date of this dividend is Friday, January 27th. Vornado Realty Trust’s dividend payout ratio is 424.00%.

About Vornado Realty Trust

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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.