Franklin Resources Inc. increased its stake in Vornado Realty Trust (NYSE:VNO - Free Report) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,107,586 shares of the real estate investment trust's stock after buying an additional 592,412 shares during the period. Franklin Resources Inc. owned about 5.83% of Vornado Realty Trust worth $444,859,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC bought a new stake in shares of Vornado Realty Trust in the 1st quarter worth about $219,000. Wealth Enhancement Advisory Services LLC raised its stake in Vornado Realty Trust by 598.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 90,640 shares of the real estate investment trust's stock valued at $2,383,000 after buying an additional 77,668 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Vornado Realty Trust by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,319 shares of the real estate investment trust's stock valued at $324,000 after buying an additional 1,659 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Vornado Realty Trust by 13.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 14,276 shares of the real estate investment trust's stock worth $375,000 after buying an additional 1,675 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Vornado Realty Trust by 324.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust's stock worth $20,292,000 after acquiring an additional 590,176 shares in the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.
VNO has been the topic of several research reports. The Goldman Sachs Group upped their price target on Vornado Realty Trust from $21.50 to $23.75 and gave the company a "sell" rating in a research report on Thursday, September 12th. Bank of America increased their target price on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, August 22nd. Truist Financial lifted their price target on shares of Vornado Realty Trust from $31.00 to $40.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. 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 note on Friday, October 18th. Finally, Scotiabank raised their target price on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Three investment 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. According to data from MarketBeat, Vornado Realty Trust has an average rating of "Hold" and an average target price of $36.58.
View Our Latest Analysis on VNO
Shares of NYSE:VNO opened at $44.66 on Friday. The firm's 50 day moving average is $42.55 and its two-hundred day moving average is $34.73. The firm has a market capitalization of $8.51 billion, a P/E ratio of -154.00 and a beta of 1.63. The company has a current ratio of 4.97, a quick 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.
Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.61). The business had revenue of $443.26 million during the quarter, compared to the consensus estimate of $445.07 million. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. Analysts anticipate that Vornado Realty Trust will post 2.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a dividend of $0.74 per share. This is a boost from Vornado Realty Trust's previous quarterly dividend of $0.30. This represents a $2.96 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend is Monday, December 16th. Vornado Realty Trust's payout ratio is currently -103.45%.
Vornado Realty Trust is a fully - integrated equity real estate investment trust.
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