Axa Sells 1,407 Shares of Vornado Realty Trust (VNO)

Axa reduced its position in Vornado Realty Trust (NYSE:VNO) by 28.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,593 shares of the real estate investment trust’s stock after selling 1,407 shares during the period. Axa’s holdings in Vornado Realty Trust were worth $262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc lifted its holdings in shares of Vornado Realty Trust by 4.9% in the 2nd quarter. CIBC Asset Management Inc now owns 16,949 shares of the real estate investment trust’s stock worth $1,253,000 after purchasing an additional 785 shares in the last quarter. Dupont Capital Management Corp lifted its holdings in shares of Vornado Realty Trust by 3.5% in the 3rd quarter. Dupont Capital Management Corp now owns 23,668 shares of the real estate investment trust’s stock worth $1,728,000 after purchasing an additional 808 shares in the last quarter. KCS Wealth Advisory lifted its holdings in shares of Vornado Realty Trust by 6.7% in the 2nd quarter. KCS Wealth Advisory now owns 12,952 shares of the real estate investment trust’s stock worth $957,000 after purchasing an additional 813 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Vornado Realty Trust by 28.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 4,165 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 927 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Vornado Realty Trust by 3.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 32,502 shares of the real estate investment trust’s stock worth $2,373,000 after purchasing an additional 972 shares in the last quarter. Institutional investors own 79.19% of the company’s stock.

In other news, EVP Joseph Macnow sold 23,000 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $70.80, for a total transaction of $1,628,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.04% of the company’s stock.

Several equities analysts have weighed in on VNO shares. Zacks Investment Research upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Monday, October 1st. BMO Capital Markets restated a “buy” rating and set a $85.00 price objective on shares of Vornado Realty Trust in a research note on Monday, October 29th. ValuEngine upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Sandler O’Neill cut Vornado Realty Trust from a “buy” rating to a “hold” rating in a research note on Monday, December 3rd. Finally, Citigroup dropped their price objective on Vornado Realty Trust from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Vornado Realty Trust presently has a consensus rating of “Hold” and an average target price of $79.80.

Shares of NYSE:VNO opened at $70.66 on Monday. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 2.36. Vornado Realty Trust has a 1-year low of $64.13 and a 1-year high of $79.56. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 4.63 and a beta of 0.92.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, October 29th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). Vornado Realty Trust had a net margin of 16.89% and a return on equity of 8.55%. The business had revenue of $542.05 million for the quarter, compared to analysts’ expectations of $544.62 million. During the same period in the prior year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Vornado Realty Trust will post 3.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 19th. Stockholders of record on Monday, November 5th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, November 2nd. Vornado Realty Trust’s dividend payout ratio is presently 67.56%.

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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.

Further Reading: Dividend Aristocrat Index

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

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