Dai Ichi Life Insurance Company Ltd Lowers Stake in Vornado Realty Trust (NYSE:VNO)

Dai Ichi Life Insurance Company Ltd reduced its holdings in shares of Vornado Realty Trust (NYSE:VNO) by 94.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,654 shares of the real estate investment trust’s stock after selling 150,000 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Vornado Realty Trust were worth $404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. raised its holdings in Vornado Realty Trust by 54.9% in the second quarter. Franklin Resources Inc. now owns 4,717,775 shares of the real estate investment trust’s stock worth $220,179,000 after buying an additional 1,672,778 shares during the last quarter. Stifel Financial Corp raised its holdings in Vornado Realty Trust by 58.9% in the second quarter. Stifel Financial Corp now owns 240,517 shares of the real estate investment trust’s stock worth $11,225,000 after buying an additional 89,198 shares during the last quarter. Arrow Capital Management LLC purchased a new position in Vornado Realty Trust in the second quarter worth about $2,334,000. Bridgewater Associates LP raised its holdings in Vornado Realty Trust by 145.5% in the second quarter. Bridgewater Associates LP now owns 20,829 shares of the real estate investment trust’s stock worth $972,000 after buying an additional 12,344 shares during the last quarter. Finally, Bamco Inc. NY raised its holdings in Vornado Realty Trust by 141.6% in the second quarter. Bamco Inc. NY now owns 1,023,247 shares of the real estate investment trust’s stock worth $47,755,000 after buying an additional 599,734 shares during the last quarter. 68.87% of the stock is owned by institutional investors.

Shares of VNO stock opened at $44.34 on Thursday. The company has a 50 day moving average price of $42.36 and a 200-day moving average price of $44.87. The company has a quick ratio of 7.61, a current ratio of 7.61 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $8.49 billion, a PE ratio of -82.11 and a beta of 1.42. Vornado Realty Trust has a 52 week low of $29.79 and a 52 week high of $50.91.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, August 2nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.55). The business had revenue of $378.94 million for the quarter, compared to the consensus estimate of $378.90 million. Vornado Realty Trust had a negative net margin of 2.95% and a positive return on equity of 2.44%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.03) earnings per share. Analysts anticipate that Vornado Realty Trust will post 2.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Monday, August 9th were given a dividend of $0.53 per share. The ex-dividend date was Friday, August 6th. This represents a $2.12 annualized dividend and a yield of 4.78%. Vornado Realty Trust’s dividend payout ratio (DPR) is 83.79%.

VNO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Vornado Realty Trust from $44.00 to $49.00 and gave the stock a “hold” rating in a report on Friday, June 25th. Bank of America raised shares of Vornado Realty Trust from an “underperform” rating to a “neutral” rating in a report on Friday, September 24th. Morgan Stanley lifted their price target on shares of Vornado Realty Trust from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 7th. Finally, Citigroup lifted their price target on shares of Vornado Realty Trust from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $43.75.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a real estate investment trust. The company owns office, retail, merchandise mart properties and other real estate and related investments. Its office properties include various building office complexes and Bank of America Center in San Francisco. The company’s retail properties include shopping centers, regional malls single tenant retail assets.

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

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