Vornado Realty Trust (VNO) Shares Sold by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. lowered its position in shares of Vornado Realty Trust (NYSE:VNO) by 17.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,378 shares of the real estate investment trust’s stock after selling 495 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Vornado Realty Trust were worth $223,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in VNO. CIBC Asset Management Inc raised its position in shares of Vornado Realty Trust by 0.4% in the second quarter. CIBC Asset Management Inc now owns 16,239 shares of the real estate investment trust’s stock worth $1,525,000 after buying an additional 59 shares in the last quarter. KRV Capital LP bought a new position in shares of Vornado Realty Trust during the second quarter worth approximately $9,352,000. Resolution Capital Ltd bought a new position in shares of Vornado Realty Trust during the second quarter worth approximately $13,273,000. IBM Retirement Fund raised its position in shares of Vornado Realty Trust by 121.1% in the second quarter. IBM Retirement Fund now owns 4,230 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 2,317 shares in the last quarter. Finally, Bowling Portfolio Management LLC bought a new position in shares of Vornado Realty Trust during the second quarter worth approximately $1,008,000. 87.10% of the stock is owned by institutional investors and hedge funds.
Vornado Realty Trust (NYSE VNO) opened at 79.25 on Tuesday. The company has a 50-day moving average of $77.01 and a 200 day moving average of $80.63. Vornado Realty Trust has a 52-week low of $77.25 and a 52-week high of $111.72. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of 17.12 and a beta of 0.97.
Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.09. The firm had revenue of $626.04 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $1.21 EPS. On average, equities research analysts anticipate that Vornado Realty Trust will post $1.05 EPS for the current year.
The firm also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Thursday, August 3rd. Vornado Realty Trust’s dividend payout ratio is currently 51.72%.
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A number of research analysts have recently commented on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $87.00 price objective (up previously from $86.00) on shares of Vornado Realty Trust in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $81.00 price objective on shares of Vornado Realty Trust in a research report on Saturday, July 22nd. Citigroup Inc. cut their price objective on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 19th. Finally, Barclays PLC cut their price objective on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $100.75.
About Vornado Realty Trust
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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