Wetherby Asset Management Inc. boosted its stake in shares of Vornado Realty Trust (NYSE:VNO) by 13.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,306 shares of the real estate investment trust’s stock after buying an additional 398 shares during the period. Wetherby Asset Management Inc.’s holdings in Vornado Realty Trust were worth $345,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Vornado Realty Trust during the fourth quarter valued at approximately $144,917,000. Standard Life Investments LTD raised its stake in Vornado Realty Trust by 843.0% in the third quarter. Standard Life Investments LTD now owns 1,342,028 shares of the real estate investment trust’s stock valued at $135,813,000 after buying an additional 1,199,719 shares during the period. Bank of New York Mellon Corp raised its stake in Vornado Realty Trust by 43.0% in the second quarter. Bank of New York Mellon Corp now owns 3,553,344 shares of the real estate investment trust’s stock valued at $355,762,000 after buying an additional 1,068,681 shares during the period. JPMorgan Chase & Co. raised its stake in Vornado Realty Trust by 23.7% in the third quarter. JPMorgan Chase & Co. now owns 4,508,628 shares of the real estate investment trust’s stock valued at $456,317,000 after buying an additional 865,285 shares during the period. Finally, Prudential Financial Inc. raised its stake in Vornado Realty Trust by 309.5% in the third quarter. Prudential Financial Inc. now owns 1,016,116 shares of the real estate investment trust’s stock valued at $102,842,000 after buying an additional 767,957 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Shares of Vornado Realty Trust (NYSE:VNO) traded up 0.06% on Monday, reaching $106.51. 291,664 shares of the company’s stock traded hands. The stock has a market cap of $20.13 billion, a price-to-earnings ratio of 50.22 and a beta of 0.88. Vornado Realty Trust has a 52-week low of $80.48 and a 52-week high of $108.69. The firm’s 50-day moving average is $105.41 and its 200-day moving average is $100.97.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Monday, January 30th will be paid a $0.71 dividend. The ex-dividend date is Thursday, January 26th. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.63. This represents a $2.84 dividend on an annualized basis and a yield of 2.67%. Vornado Realty Trust’s dividend payout ratio (DPR) is 133.96%.
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A number of research firms have recently weighed in on VNO. J P Morgan Chase & Co increased their target price on shares of Vornado Realty Trust from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, November 30th. Bank of America Corporation raised shares of Vornado Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $108.00 to $114.00 in a research report on Friday, November 11th. Finally, Barclays PLC reduced their target price on shares of Vornado Realty Trust from $103.00 to $101.00 and set a “hold” rating for the company in a research report on Monday, January 23rd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $107.61.
In other Vornado Realty Trust news, insider Mitchell N. Schear sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The shares were sold at an average price of $102.64, for a total transaction of $1,539,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Macnow sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $102.98, for a total transaction of $4,119,200.00. Following the transaction, the executive vice president now directly owns 30,000 shares of the company’s stock, valued at $3,089,400. The disclosure for this sale can be found here. 9.72% of the stock is owned by company insiders.
About Vornado Realty Trust
Vornado Realty Trust is a fully integrated real estate investment trust (REIT). The Company conducts its business through, and its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). It is the sole general partner of, and owns common limited partnership interest in the Operating Partnership.
Want to see what other hedge funds are holding VNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vornado Realty Trust (NYSE:VNO).
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