Van ECK Associates Corp Has $1.25 Million Stake in Vornado Realty Trust (NYSE:VNO)

Van ECK Associates Corp trimmed its holdings in Vornado Realty Trust (NYSE:VNOGet Rating) by 31.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,765 shares of the real estate investment trust’s stock after selling 25,015 shares during the period. Van ECK Associates Corp’s holdings in Vornado Realty Trust were worth $1,245,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Wipfli Financial Advisors LLC bought a new position in shares of Vornado Realty Trust during the third quarter worth approximately $28,000. SOA Wealth Advisors LLC. increased its stake in shares of Vornado Realty Trust by 540.6% during the third quarter. SOA Wealth Advisors LLC. now owns 1,294 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,092 shares during the period. Allworth Financial LP increased its stake in shares of Vornado Realty Trust by 40,700.0% during the third quarter. Allworth Financial LP now owns 1,632 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,628 shares during the period. Federated Hermes Inc. increased its stake in shares of Vornado Realty Trust by 223.0% during the second quarter. Federated Hermes Inc. now owns 1,938 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 1,338 shares during the period. Finally, CWM LLC increased its stake in shares of Vornado Realty Trust by 179.9% during the third quarter. CWM LLC now owns 2,382 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 1,531 shares during the period. 75.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VNO. Citigroup lowered Vornado Realty Trust from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $24.00 to $19.00 in a research note on Wednesday, December 14th. Evercore ISI cut their target price on Vornado Realty Trust from $34.00 to $31.00 in a research report on Tuesday, September 27th. Argus cut Vornado Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Vornado Realty Trust from $25.00 to $22.00 in a research report on Wednesday, January 4th. Finally, Piper Sandler cut their price objective on shares of Vornado Realty Trust from $20.00 to $17.00 and set an “underweight” rating for the company in a research report on Friday, October 7th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Vornado Realty Trust presently has an average rating of “Hold” and a consensus target price of $24.88.

Vornado Realty Trust Stock Up 1.2 %

VNO stock opened at $23.31 on Monday. The stock has a market capitalization of $4.47 billion, a P/E ratio of 46.62, a price-to-earnings-growth ratio of 2.60 and a beta of 1.29. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.52. Vornado Realty Trust has a 12 month low of $20.03 and a 12 month high of $47.26. The firm has a 50-day moving average price of $22.85 and a 200-day moving average price of $25.18.

Vornado Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were issued a $0.53 dividend. The ex-dividend date was Friday, November 4th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 9.09%. Vornado Realty Trust’s dividend payout ratio (DPR) is currently 424.00%.

Vornado Realty Trust Company Profile

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Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.

See Also

Institutional Ownership by Quarter for Vornado Realty Trust (NYSE:VNO)

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