National Bank of Canada FI Purchases Shares of 291,586 Vornado Realty Trust (NYSE:VNO)

National Bank of Canada FI acquired a new position in Vornado Realty Trust (NYSE:VNO) during the third quarter, according to its most recent filing with the SEC. The firm acquired 291,586 shares of the real estate investment trust’s stock, valued at approximately $11,488,000.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Vornado Realty Trust by 428.3% in the third quarter. Principal Financial Group Inc. now owns 2,820,958 shares of the real estate investment trust’s stock valued at $111,146,000 after acquiring an additional 2,286,997 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Vornado Realty Trust by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,801,260 shares of the real estate investment trust’s stock worth $110,370,000 after purchasing an additional 149,017 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of Vornado Realty Trust by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock valued at $51,875,000 after purchasing an additional 612,765 shares in the last quarter. Bamco Inc. NY purchased a new position in shares of Vornado Realty Trust during the third quarter valued at about $75,347,000. Finally, Bank of New York Mellon Corp increased its position in shares of Vornado Realty Trust by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 1,543,096 shares of the real estate investment trust’s stock valued at $40,568,000 after buying an additional 24,322 shares during the period. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Stock Performance

Shares of Vornado Realty Trust stock opened at $44.86 on Wednesday. Vornado Realty Trust has a 1 year low of $22.42 and a 1 year high of $46.63. The firm’s 50-day moving average is $42.24 and its 200 day moving average is $34.44. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of -154.69 and a beta of 1.64. The company has a debt-to-equity ratio of 1.93, a current ratio of 4.97 and a quick ratio of 4.97.

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

Vornado Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date is Monday, December 16th. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.30. Vornado Realty Trust’s dividend payout ratio (DPR) is presently -103.45%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective 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. StockNews.com raised Vornado Realty Trust to a “sell” rating in a research note on Tuesday, November 12th. Compass Point raised their price objective on Vornado Realty Trust from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Barclays upped their target price on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $44.00 price target (up from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.58.

Vornado Realty Trust Company Profile

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