M&T Bank Corp Buys 3,055 Shares of Vornado Realty Trust (NYSE:VNO)

M&T Bank Corp lifted its stake in shares of Vornado Realty Trust (NYSE:VNO) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,770 shares of the real estate investment trust’s stock after buying an additional 3,055 shares during the quarter. M&T Bank Corp’s holdings in Vornado Realty Trust were worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Cetera Advisors LLC purchased a new position in shares of Vornado Realty Trust during the 1st quarter worth approximately $219,000. Wealth Enhancement Advisory Services LLC raised its holdings in Vornado Realty Trust by 598.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 90,640 shares of the real estate investment trust’s stock worth $2,383,000 after purchasing an additional 77,668 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Vornado Realty Trust by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,319 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,659 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Vornado Realty Trust by 13.3% during the second quarter. Assenagon Asset Management S.A. now owns 14,276 shares of the real estate investment trust’s stock valued at $375,000 after buying an additional 1,675 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Vornado Realty Trust by 324.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock valued at $20,292,000 after buying an additional 590,176 shares in the last quarter. 90.02% of the stock is owned by institutional investors.

Vornado Realty Trust Stock Performance

Shares of VNO stock opened at $44.66 on Friday. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93. The company has a 50 day moving average price of $42.55 and a 200-day moving average price of $34.81. Vornado Realty Trust has a 52 week low of $22.42 and a 52 week high of $46.63. The firm has a market capitalization of $8.51 billion, a PE ratio of -154.00 and a beta of 1.63.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). The company had revenue of $443.26 million during the quarter, compared to the consensus estimate of $445.07 million. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. As a group, equities research analysts expect that Vornado Realty Trust will post 2.16 earnings per share for the current year.

Vornado Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be issued a $0.74 dividend. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.96 dividend on an annualized basis and a yield of 6.63%. Vornado Realty Trust’s dividend payout ratio is currently -103.45%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research note on Tuesday, November 12th. Evercore ISI raised their target price on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research report on Thursday, September 12th. Piper Sandler restated a “neutral” rating and issued a $44.00 price target (up previously from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. Finally, Truist Financial lifted their price objective on Vornado Realty Trust from $31.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Vornado Realty Trust currently has a consensus rating of “Hold” and an average price target of $36.58.

Vornado Realty Trust Company Profile

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