5 High-Yield Dividend Stocks to Buy According to John A. Levin’s Levin Capital

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1. Vornado Realty Trust (NYSE:VNO)

Dividend Yield as of June 20: 7.45%
Number of Hedge Fund Holders: 24
Levin Capital Strategies’ Stake Value: $7,063,000

Vornado Realty Trust (NYSE:VNO) is an American real estate investment trust that mainly invests in office buildings and other commercial buildings. The company gained traction among investors after its Q1 results, gaining 4.5% on May 2. In Q1 2022, the company reported a 3.1% year-over-year growth in its same-store net operating income. Moreover, its gross revenue came in at $442.1 million, which surpassed estimates by$20.2 million.

As per Insider Monkey’s Q1 2022 database, Vornado Realty Trust (NYSE:VNO) was a part of 24 hedge fund portfolios, up from 22 in the previous quarter. The collective value of these stakes held by hedge funds stood at nearly $200 million.

In 2020, Vornado Realty Trust (NYSE:VNO) cut its quarterly dividend by 20% in recognition of the economic uncertainty caused by the pandemic. Since then, the company has been paying a quarterly dividend of $0.53 per share, with a yield of 7.45%, as of June 20. In its June investors’ note, Truist appreciated the company’s portfolio but also mentioned the stock’s negative year-to-date returns. The firm lowered its price target on Vornado Realty Trust (NYSE:VNO) to $41 but kept a Buy rating on the shares.

During Q1 2022, Levin Capital sold off roughly 60,000 VNO shares, trimming its position in the company by 28%. The hedge fund’s total stake of $7.06 million in the company accounted for 0.68% of John A. Levin’s portfolio.

You can also take a look at  12 Best Bear Market Stocks to Buy Now and 10 Best Financial Stocks that Pay Dividends

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