TIAA CREF Investment Management LLC Boosts Position in Vornado Realty Trust (VNO)

TIAA CREF Investment Management LLC increased its stake in shares of Vornado Realty Trust (NYSE:VNO) by 64.9% during the first quarter, Holdings Channel reports. The fund owned 606,058 shares of the real estate investment trust’s stock after buying an additional 238,425 shares during the period. TIAA CREF Investment Management LLC owned 0.32% of Vornado Realty Trust worth $60,794,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its position in Vornado Realty Trust by 62.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,300 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Vornado Realty Trust by 1.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,404 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 20 shares during the last quarter. Advisors Asset Management Inc. raised its position in Vornado Realty Trust by 98.9% in the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 741 shares during the last quarter. First Allied Advisory Services Inc. bought a new position in Vornado Realty Trust during the fourth quarter valued at $210,000. Finally, Janney Montgomery Scott LLC raised its position in Vornado Realty Trust by 0.8% in the first quarter. Janney Montgomery Scott LLC now owns 2,069 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 16 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Institutional Ownership by Quarter for Vornado Realty Trust (NYSE:VNO)

Shares of Vornado Realty Trust (VNO) traded up 0.81% during trading on Wednesday, reaching $92.00. 1,216,816 shares of the company’s stock were exchanged. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 17.77 and a beta of 0.88. Vornado Realty Trust has a 12 month low of $86.35 and a 12 month high of $111.72. The stock has a 50-day moving average price of $95.25 and a 200 day moving average price of $101.80.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.64. The company had revenue of $620.85 million during the quarter, compared to the consensus estimate of $642 million. Vornado Realty Trust had a return on equity of 4.57% and a net margin of 36.19%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.61) EPS. On average, analysts forecast that Vornado Realty Trust will post $1.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, May 8th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.09%. Vornado Realty Trust’s dividend payout ratio (DPR) is presently 65.59%.

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A number of equities analysts have weighed in on VNO shares. TheStreet upgraded shares of Vornado Realty Trust from a “c+” rating to a “b+” rating in a research report on Monday, February 13th. Barclays PLC increased their target price on shares of Vornado Realty Trust from $101.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 28th. Deutsche Bank AG increased their target price on shares of Vornado Realty Trust from $97.00 to $105.00 and gave the stock a “hold” rating in a research report on Monday, March 20th. Zacks Investment Research upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, February 22nd. Finally, Evercore ISI reiterated an “in-line” rating and set a $107.00 target price (down previously from $111.00) on shares of Vornado Realty Trust in a research report on Thursday, May 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $109.64.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.

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