MML Investors Services LLC Buys New Holdings in Vornado Realty Trust (NYSE:VNO)

MML Investors Services LLC purchased a new position in shares of Vornado Realty Trust (NYSE:VNO) in the 3rd quarter, according to its most recent 13F filing with the Securities & 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 also recently modified their holdings of the company. Blue Trust Inc. increased its position in Vornado Realty Trust by 331.0% during the 3rd quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 844 shares in the last quarter. Assetmark Inc. increased its position 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 acquiring an additional 661 shares in the last quarter. Quarry LP purchased a new position in shares of Vornado Realty Trust in the 3rd quarter valued at $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vornado Realty Trust during the 2nd quarter valued at $48,000. Finally, Farther Finance Advisors LLC boosted its position in 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 worth $88,000 after purchasing an additional 665 shares during the period. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Price Performance

VNO opened at $42.42 on Thursday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 4.97 and a current 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 50-day moving average of $42.92 and a 200-day moving average of $35.79. The company has a market capitalization of $8.09 billion, a P/E ratio of -146.28 and a beta of 1.64.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) 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 firm had revenue of $443.26 million for the quarter, compared to analyst estimates of $445.07 million. During the same quarter in the previous year, the company earned $0.66 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts expect that Vornado Realty Trust will post 2.16 EPS for the current fiscal year.

Vornado Realty Trust Increases Dividend

The firm also recently announced 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. This is a positive change from Vornado Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, December 16th. This represents a $2.96 annualized dividend and a yield of 6.98%. Vornado Realty Trust’s payout ratio is presently -255.17%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial boosted their price objective on Vornado Realty Trust from $31.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Compass Point upped their price target on Vornado Realty Trust from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Piper Sandler reiterated a “neutral” rating and set a $44.00 price objective (up previously from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. Barclays boosted their target price on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Finally, Scotiabank raised their price target on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.58.

Vornado Realty Trust Company Profile

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