Principal Financial Group Inc. Has $111.15 Million Holdings in Vornado Realty Trust (NYSE:VNO)

Principal Financial Group Inc. lifted its position in Vornado Realty Trust (NYSE:VNO) by 428.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,820,958 shares of the real estate investment trust’s stock after buying an additional 2,286,997 shares during the quarter. Principal Financial Group Inc.’s holdings in Vornado Realty Trust were worth $111,146,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bamco Inc. NY acquired a new stake in Vornado Realty Trust in the third quarter valued at $75,347,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Vornado Realty Trust by 381.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,205,383 shares of the real estate investment trust’s stock valued at $47,492,000 after purchasing an additional 955,071 shares during the period. Heitman Real Estate Securities LLC lifted its stake in Vornado Realty Trust by 2,021.1% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 994,446 shares of the real estate investment trust’s stock valued at $39,181,000 after purchasing an additional 947,562 shares during the last quarter. Bank of Montreal Can lifted its stake in Vornado Realty Trust by 2,229.1% in the 2nd quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock valued at $22,502,000 after purchasing an additional 818,838 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. grew its holdings in Vornado Realty Trust by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after purchasing an additional 612,765 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on VNO. Evercore ISI upped their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com raised Vornado Realty Trust to a “sell” rating in a report on Tuesday, November 12th. The Goldman Sachs Group raised their price target on Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a report on Thursday, September 12th. Barclays upped their price objective on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Finally, Piper Sandler reissued a “neutral” rating and issued a $44.00 price objective (up from $30.00) on shares of Vornado Realty Trust in a research report on Friday, October 18th. Three research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.58.

Vornado Realty Trust Trading Up 3.7 %

Shares of Vornado Realty Trust stock opened at $41.51 on Friday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 4.97 and a current ratio of 4.97. The firm has a 50-day moving average of $42.85 and a 200-day moving average of $35.38. Vornado Realty Trust has a 52-week low of $22.42 and a 52-week high of $46.63. The stock has a market cap of $7.91 billion, a PE ratio of -143.14 and a beta of 1.63.

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

Vornado Realty Trust Increases Dividend

The business also recently disclosed 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 represents a $2.96 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Vornado Realty Trust’s previous quarterly dividend of $0.30. Vornado Realty Trust’s dividend payout ratio (DPR) is -255.17%.

About Vornado Realty Trust

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