JPMorgan Chase & Co. Grows Stock Position in Vornado Realty Trust (NYSE:VNO)

JPMorgan Chase & Co. increased its holdings in Vornado Realty Trust (NYSE:VNO) by 232.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,529,069 shares of the real estate investment trust’s stock after acquiring an additional 2,468,652 shares during the quarter. JPMorgan Chase & Co.’s holdings in Vornado Realty Trust were worth $139,045,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in VNO. Principal Financial Group Inc. raised its holdings in Vornado Realty Trust by 428.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,820,958 shares of the real estate investment trust’s stock worth $111,146,000 after purchasing an additional 2,286,997 shares during the period. Bamco Inc. NY purchased a new position in shares of Vornado Realty Trust during the 3rd quarter valued at about $75,347,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Vornado Realty Trust by 381.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,205,383 shares of the real estate investment trust’s stock worth $47,492,000 after acquiring an additional 955,071 shares in the last quarter. Heitman Real Estate Securities LLC raised its stake in Vornado Realty Trust by 2,021.1% during the 3rd quarter. Heitman Real Estate Securities LLC now owns 994,446 shares of the real estate investment trust’s stock worth $39,181,000 after acquiring an additional 947,562 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Vornado Realty Trust by 2,229.1% during the second quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock valued at $22,502,000 after purchasing an additional 818,838 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Stock Up 1.6 %

Shares of VNO opened at $42.04 on Thursday. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93. Vornado Realty Trust has a 52-week low of $22.42 and a 52-week high of $46.63. The company has a market cap of $8.01 billion, a PE ratio of -144.97 and a beta of 1.63. The business has a fifty day moving average of $42.84 and a 200 day moving average of $36.44.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.61). Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The firm had revenue of $443.26 million for the quarter, compared to the consensus estimate of $445.07 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Vornado Realty Trust will post 2.16 EPS for the current year.

Vornado Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.30. Vornado Realty Trust’s dividend payout ratio is presently -255.17%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Compass Point lifted their target price on shares of Vornado Realty Trust from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Scotiabank boosted their price objective on Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. The Goldman Sachs Group increased their target price on Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research report on Thursday, September 12th. Piper Sandler reiterated a “neutral” rating and set a $44.00 price objective (up previously from $30.00) on shares of Vornado Realty Trust in a research report on Friday, October 18th. Finally, StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.58.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.