MML Investors Services LLC Makes New Investment in Vornado Realty Trust (NYSE:VNO)

MML Investors Services LLC purchased a new position in shares of Vornado Realty Trust (NYSE:VNO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,291 shares of the real estate investment trust’s stock, valued at approximately $248,000.

A number of other large investors have also made changes to their positions in VNO. XTX Topco Ltd purchased a new position in Vornado Realty Trust in the third quarter valued at about $1,468,000. Zurich Insurance Group Ltd FI purchased a new position in Vornado Realty Trust in the 3rd quarter valued at approximately $17,655,000. National Bank of Canada FI purchased a new position in Vornado Realty Trust in the 3rd quarter valued at approximately $11,488,000. Quantinno Capital Management LP raised its holdings in Vornado Realty Trust by 20.8% during the third quarter. Quantinno Capital Management LP now owns 74,050 shares of the real estate investment trust’s stock worth $2,918,000 after purchasing an additional 12,773 shares during the last quarter. Finally, Quarry LP purchased a new stake in Vornado Realty Trust during the third quarter worth $54,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $44.00 price target (up previously from $30.00) on shares of Vornado Realty Trust in a research report on Friday, October 18th. Truist Financial lifted their target price on shares of Vornado Realty Trust from $31.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Compass Point increased their price target on shares of Vornado Realty Trust from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI raised their price objective on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Scotiabank upped their target price on Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vornado Realty Trust presently has a consensus rating of “Hold” and an average target price of $36.58.

Vornado Realty Trust Price Performance

VNO stock opened at $42.42 on Thursday. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of -146.28 and a beta of 1.64. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93. Vornado Realty Trust has a 52-week low of $22.42 and a 52-week high of $46.63. The stock’s fifty day simple moving average is $42.92 and its 200-day simple moving average is $35.79.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $443.26 million during the quarter, compared to analyst estimates of $445.07 million. During the same period in the previous year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts expect that Vornado Realty Trust will post 2.16 EPS for the current year.

Vornado Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be given a dividend of $0.74 per share. This is a positive change from Vornado Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.96 annualized dividend and a yield of 6.98%. 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.