State Treasurer State of Michigan Trims Holdings in Vornado Realty Trust (VNO)

State Treasurer State of Michigan trimmed its stake in Vornado Realty Trust (NYSE:VNO) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,550 shares of the real estate investment trust’s stock after selling 2,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Vornado Realty Trust were worth $3,074,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of VNO. TD Asset Management Inc. increased its stake in shares of Vornado Realty Trust by 2.4% in the fourth quarter. TD Asset Management Inc. now owns 50,390 shares of the real estate investment trust’s stock worth $3,126,000 after purchasing an additional 1,198 shares in the last quarter. Dupont Capital Management Corp grew its stake in Vornado Realty Trust by 49.3% during the fourth quarter. Dupont Capital Management Corp now owns 35,347 shares of the real estate investment trust’s stock valued at $2,193,000 after acquiring an additional 11,679 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Vornado Realty Trust by 6.1% during the fourth quarter. Advisors Asset Management Inc. now owns 7,963 shares of the real estate investment trust’s stock valued at $494,000 after acquiring an additional 461 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in Vornado Realty Trust by 5.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 76,309 shares of the real estate investment trust’s stock valued at $4,740,000 after acquiring an additional 3,710 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in Vornado Realty Trust by 5.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 233,400 shares of the real estate investment trust’s stock valued at $14,478,000 after acquiring an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

In related news, Director Michael D. Fascitelli sold 126,074 shares of the company’s stock in a transaction on Monday, January 14th. The shares were sold at an average price of $64.23, for a total transaction of $8,097,733.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Macnow sold 23,000 shares of the company’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $70.80, for a total transaction of $1,628,400.00. The disclosure for this sale can be found here. Corporate insiders own 10.04% of the company’s stock.

NYSE:VNO traded down $0.02 during midday trading on Monday, reaching $69.88. 169,823 shares of the stock traded hands, compared to its average volume of 1,008,534. Vornado Realty Trust has a 12 month low of $59.48 and a 12 month high of $77.59. The company has a quick ratio of 4.64, a current ratio of 4.64 and a debt-to-equity ratio of 2.36. The firm has a market capitalization of $13.30 billion, a P/E ratio of 18.73, a P/E/G ratio of 4.38 and a beta of 1.14.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, January 28th will be issued a dividend of $0.66 per share. This is a positive change from Vornado Realty Trust’s previous quarterly dividend of $0.63. This represents a $2.64 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, January 25th. Vornado Realty Trust’s dividend payout ratio is currently 70.78%.

Several equities research analysts have issued reports on VNO shares. BMO Capital Markets reiterated a “buy” rating on shares of Vornado Realty Trust in a research report on Monday, October 15th. Scotiabank assumed coverage on shares of Vornado Realty Trust in a report on Tuesday, October 16th. They issued an “underperform” rating for the company. Zacks Investment Research lowered shares of Vornado Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. ValuEngine upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Citigroup lowered their price objective on shares of Vornado Realty Trust from $85.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $78.60.

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Vornado Realty Trust Profile

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 2017.

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

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