Investors Sell Shares of Vornado Realty Trust (VNO) on Strength (VNO)
Investors sold shares of Vornado Realty Trust (NYSE:VNO) on strength during trading hours on Thursday. $13.28 million flowed into the stock on the tick-up and $45.10 million flowed out of the stock on the tick-down, for a money net flow of $31.82 million out of the stock. Of all equities tracked, Vornado Realty Trust had the 0th highest net out-flow for the day. Vornado Realty Trust traded up $0.44 for the day and closed at $103.31
VNO has been the subject of several recent research reports. Argus reissued a “hold” rating on shares of Vornado Realty Trust in a research note on Tuesday. Citigroup Inc. increased their target price on shares of Vornado Realty Trust from $106.00 to $116.50 and gave the company a “buy” rating in a research note on Thursday, July 7th. TheStreet upgraded shares of Vornado Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 21st. Finally, Vetr downgraded shares of Vornado Realty Trust from a “strong-buy” rating to a “buy” rating and set a $108.00 price target for the company. in a research report on Wednesday, June 8th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $105.50.
The stock has a 50 day moving average price of $103.58 and a 200-day moving average price of $96.68. The company has a market capitalization of $19.44 billion and a P/E ratio of 36.47.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by $0.04. During the same period last year, the company posted $1.71 EPS. The firm had revenue of $621.71 million for the quarter, compared to the consensus estimate of $621.30 million. Vornado Realty Trust’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts expect that Vornado Realty Trust will post $4.90 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Tuesday, August 9th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, August 5th.
In other Vornado Realty Trust news, Director Russell B. Wight, Jr. purchased 2,000 shares of the stock in a transaction dated Wednesday, August 17th. The stock was bought at an average price of $102.53 per share, for a total transaction of $205,060.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.
A number of hedge funds and institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Vornado Realty Trust by 9.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,046,450 shares of the real estate investment trust’s stock worth $104,604,000 after buying an additional 91,232 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Vornado Realty Trust by 92.8% in the fourth quarter. BlackRock Advisors LLC now owns 195,994 shares of the real estate investment trust’s stock worth $19,591,000 after buying an additional 94,361 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Vornado Realty Trust by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,175,964 shares of the real estate investment trust’s stock worth $217,513,000 after buying an additional 16,046 shares in the last quarter.
Vornado Realty Trust is a fully integrated real estate investment trust (REIT). The Company conducts its business through, and its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). It is the sole general partner of, and owns common limited partnership interest in the Operating Partnership.
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