Retirement Systems of Alabama Has $7.93 Million Stake in Vornado Realty Trust (NYSE:VNO)

Retirement Systems of Alabama increased its stake in shares of Vornado Realty Trust (NYSE:VNO) by 1.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 201,310 shares of the real estate investment trust’s stock after buying an additional 3,824 shares during the quarter. Retirement Systems of Alabama’s holdings in Vornado Realty Trust were worth $7,932,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in shares of Vornado Realty Trust by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 38,933 shares of the real estate investment trust’s stock valued at $1,534,000 after acquiring an additional 272 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Vornado Realty Trust by 0.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,315 shares of the real estate investment trust’s stock worth $2,731,000 after purchasing an additional 299 shares during the period. US Bancorp DE grew its stake in Vornado Realty Trust by 1.8% during the third quarter. US Bancorp DE now owns 17,529 shares of the real estate investment trust’s stock worth $691,000 after buying an additional 311 shares in the last quarter. Vert Asset Management LLC increased its holdings in Vornado Realty Trust by 0.5% in the 3rd quarter. Vert Asset Management LLC now owns 68,282 shares of the real estate investment trust’s stock valued at $2,690,000 after buying an additional 324 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Vornado Realty Trust by 12.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,412 shares of the real estate investment trust’s stock valued at $174,000 after buying an additional 500 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on VNO shares. The Goldman Sachs Group increased their price target on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research report on Thursday, September 12th. Compass Point lifted their price target on Vornado Realty Trust from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Truist Financial upped their price objective on Vornado Realty Trust from $31.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Bank of America lifted their target price on Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Finally, Barclays increased their target price on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.58.

Vornado Realty Trust Stock Performance

Shares of VNO stock opened at $44.76 on Wednesday. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of -154.34 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. The business’s 50-day moving average price is $42.68 and its 200-day moving average price is $35.04. Vornado Realty Trust has a 12 month low of $22.42 and a 12 month high of $46.63.

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

Vornado Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be given a dividend of $0.74 per share. The ex-dividend date is Monday, December 16th. This represents a $2.96 dividend on an annualized basis and a yield of 6.61%. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.30. Vornado Realty Trust’s dividend payout ratio is -255.17%.

Vornado Realty Trust Profile

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