Texas Permanent School Fund Reduces Position in Vornado Realty Trust (VNO)

Texas Permanent School Fund reduced its position in shares of Vornado Realty Trust (NYSE:VNO) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,862 shares of the real estate investment trust’s stock after selling 3,368 shares during the period. Texas Permanent School Fund’s holdings in Vornado Realty Trust were worth $2,837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new position in Vornado Realty Trust in the 2nd quarter valued at $122,000. Federated Investors Inc. PA raised its holdings in Vornado Realty Trust by 5,125.0% in the 2nd quarter. Federated Investors Inc. PA now owns 2,090 shares of the real estate investment trust’s stock valued at $154,000 after acquiring an additional 2,050 shares in the last quarter. KAMES CAPITAL plc acquired a new position in Vornado Realty Trust in the 3rd quarter valued at $186,000. Linscomb & Williams Inc. acquired a new position in Vornado Realty Trust in the 2nd quarter valued at $211,000. Finally, Quantum Capital Management acquired a new position in Vornado Realty Trust in the 2nd quarter valued at $213,000. 78.87% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust stock opened at $66.82 on Friday. The company has a quick ratio of 5.62, a current ratio of 4.64 and a debt-to-equity ratio of 2.36. Vornado Realty Trust has a 52 week low of $64.13 and a 52 week high of $79.56. The firm has a market cap of $12.95 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 4.71 and a beta of 0.89.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Vornado Realty Trust had a return on equity of 8.55% and a net margin of 16.89%. The business had revenue of $542.05 million for the quarter, compared to analyst estimates of $544.62 million. During the same period last year, the firm posted $0.52 EPS. Vornado Realty Trust’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts forecast that Vornado Realty Trust will post 3.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Monday, November 5th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.77%. Vornado Realty Trust’s dividend payout ratio (DPR) is currently 67.56%.

Several equities analysts have weighed in on the company. SunTrust Banks reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Vornado Realty Trust in a report on Thursday, August 16th. ValuEngine raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Zacks Investment Research raised Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Monday, October 1st. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Vornado Realty Trust in a report on Monday, July 30th. Finally, Citigroup dropped their price objective on Vornado Realty Trust from $85.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $79.80.

About Vornado Realty Trust

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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