Long Pond Capital LP Buys 374,700 Shares of Vornado Realty Trust (NYSE:VNO)

Long Pond Capital LP grew its stake in shares of Vornado Realty Trust (NYSE:VNO) by 15.7% in the first quarter, Holdings Channel reports. The institutional investor owned 2,763,566 shares of the real estate investment trust’s stock after purchasing an additional 374,700 shares during the period. Vornado Realty Trust accounts for approximately 6.5% of Long Pond Capital LP’s holdings, making the stock its 4th biggest position. Long Pond Capital LP’s holdings in Vornado Realty Trust were worth $186,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Family Firm Inc. acquired a new stake in Vornado Realty Trust during the 1st quarter valued at $535,000. Commonwealth Bank of Australia boosted its holdings in Vornado Realty Trust by 8.9% in the first quarter. Commonwealth Bank of Australia now owns 20,788 shares of the real estate investment trust’s stock worth $1,394,000 after purchasing an additional 1,700 shares in the last quarter. Bank of Nova Scotia boosted its holdings in Vornado Realty Trust by 6.2% in the fourth quarter. Bank of Nova Scotia now owns 37,079 shares of the real estate investment trust’s stock worth $2,300,000 after purchasing an additional 2,160 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Vornado Realty Trust by 8.7% in the fourth quarter. Van ECK Associates Corp now owns 42,152 shares of the real estate investment trust’s stock worth $2,615,000 after purchasing an additional 3,390 shares in the last quarter. Finally, Stevens Capital Management LP bought a new stake in Vornado Realty Trust in the fourth quarter worth $4,659,000. 77.36% of the stock is owned by institutional investors and hedge funds.

VNO stock traded down $0.51 during mid-day trading on Friday, reaching $66.32. 21,721 shares of the stock traded hands, compared to its average volume of 763,695. The company has a debt-to-equity ratio of 2.06, a current ratio of 3.93 and a quick ratio of 3.93. Vornado Realty Trust has a 52 week low of $59.48 and a 52 week high of $77.59. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.78). The firm had revenue of $534.67 million for the quarter, compared to the consensus estimate of $583.32 million. Vornado Realty Trust had a net margin of 28.76% and a return on equity of 10.19%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. Equities analysts expect that Vornado Realty Trust will post 3.7 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, May 3rd. Vornado Realty Trust’s dividend payout ratio is currently 70.21%.

VNO has been the subject of a number of recent research reports. Morgan Stanley set a $72.00 price objective on shares of Vornado Realty Trust and gave the stock a “buy” rating in a report on Monday, April 22nd. BMO Capital Markets reiterated a “buy” rating and issued a $82.00 price objective on shares of Vornado Realty Trust in a report on Wednesday, June 5th. SunTrust Banks decreased their price objective on shares of Vornado Realty Trust to $74.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. They noted that the move was a valuation call. Deutsche Bank decreased their price objective on shares of Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Finally, Zacks Investment Research upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.11.

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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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