Duff & Phelps Investment Management Co. decreased its position in shares of Vornado Realty Trust (NYSE:VNO) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 895,054 shares of the real estate investment trust’s stock after selling 4,750 shares during the period. Vornado Realty Trust accounts for approximately 1.2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 22nd largest position. Duff & Phelps Investment Management Co.’s holdings in Vornado Realty Trust were worth $84,046,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. raised its stake in Vornado Realty Trust by 2.8% in the first quarter. Levin Capital Strategies L.P. now owns 208,148 shares of the real estate investment trust’s stock worth $20,879,000 after buying an additional 5,610 shares in the last quarter. Clinton Group Inc. purchased a new stake in Vornado Realty Trust during the first quarter worth $11,386,000. Dynamic Technology Lab Private Ltd purchased a new stake in Vornado Realty Trust during the first quarter worth $841,000. FIL Ltd raised its stake in Vornado Realty Trust by 34.2% in the first quarter. FIL Ltd now owns 82,623 shares of the real estate investment trust’s stock worth $8,288,000 after buying an additional 21,057 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in Vornado Realty Trust by 9.0% in the first quarter. Glen Harbor Capital Management LLC now owns 6,666 shares of the real estate investment trust’s stock worth $669,000 after buying an additional 550 shares in the last quarter. Institutional investors and hedge funds own 87.10% of the company’s stock.

Vornado Realty Trust (VNO) opened at 76.64 on Friday. The company has a 50 day moving average of $77.54 and a 200-day moving average of $80.39. Vornado Realty Trust has a 12-month low of $69.81 and a 12-month high of $90.32. The stock has a market cap of $14.52 billion, a P/E ratio of 16.55 and a beta of 0.97.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, topping 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 company had revenue of $626.04 million for the quarter, compared to the consensus estimate of $633.19 million. During the same quarter in the prior year, the company earned $1.21 EPS. Vornado Realty Trust’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts forecast that Vornado Realty Trust will post $1.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be issued a $0.60 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $2.40 annualized dividend and a yield of 3.13%. Vornado Realty Trust’s dividend payout ratio (DPR) is presently 51.72%.

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VNO has been the subject of a number of analyst reports. TheStreet lowered shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Barclays PLC reduced 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 note on Tuesday, July 18th. Evercore ISI upgraded shares of 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. Morgan Stanley restated an “equal weight” rating and set a $81.00 price objective on shares of Vornado Realty Trust in a research note on Saturday, July 22nd. Finally, Deutsche Bank AG reduced their price objective on shares of Vornado Realty Trust from $105.00 to $103.00 and set a “hold” rating for the company in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target 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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Institutional Ownership by Quarter for Vornado Realty Trust (NYSE:VNO)

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