Zurich Insurance Group Ltd FI Buys Shares of 448,091 Vornado Realty Trust (NYSE:VNO)

Zurich Insurance Group Ltd FI purchased a new stake in shares of Vornado Realty Trust (NYSE:VNO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 448,091 shares of the real estate investment trust’s stock, valued at approximately $17,655,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Vornado Realty Trust by 331.0% in the 3rd quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 844 shares during the period. Assetmark Inc. increased its stake in shares of Vornado Realty Trust by 122.2% in the third quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 661 shares in the last quarter. Quarry LP bought a new stake in shares of Vornado Realty Trust in the third quarter valued at approximately $54,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vornado Realty Trust in the second quarter valued at approximately $48,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Vornado Realty Trust by 42.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,229 shares of the real estate investment trust’s stock valued at $88,000 after buying an additional 665 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Trading Up 1.9 %

Shares of VNO opened at $44.23 on Friday. 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 has a 1-year low of $22.42 and a 1-year high of $46.63. The company has a market capitalization of $8.43 billion, a P/E ratio of -152.52 and a beta of 1.63. The firm’s 50 day simple moving average is $42.01 and its 200 day simple moving average is $34.07.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.61). Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The company had revenue of $443.26 million for the quarter, compared to analysts’ expectations of $445.07 million. During the same quarter last year, the business posted $0.66 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts forecast that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal 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 paid a dividend of $0.74 per share. The ex-dividend date is Monday, December 16th. This represents a $2.96 annualized dividend and a yield of 6.69%. This is a positive change from Vornado Realty Trust’s previous quarterly dividend of $0.30. Vornado Realty Trust’s payout ratio is -255.17%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VNO shares. Bank of America lifted their price objective on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. StockNews.com raised Vornado Realty Trust to a “sell” rating in a report on Tuesday, November 12th. Truist Financial raised their target price on Vornado Realty Trust from $31.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday. Piper Sandler reiterated a “neutral” rating and set a $44.00 price target (up from $30.00) on shares of Vornado Realty Trust in a research report on Friday, October 18th. Finally, Barclays raised their price objective on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.58.

About Vornado Realty Trust

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