The Manufacturers Life Insurance Company Trims Stock Holdings in Vornado Realty Trust (NYSE:VNO)

The Manufacturers Life Insurance Company cut its holdings in shares of Vornado Realty Trust (NYSE:VNO) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,582 shares of the real estate investment trust’s stock after selling 9,445 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of Vornado Realty Trust worth $4,537,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sei Investments Co. increased its stake in Vornado Realty Trust by 5.7% during the 1st quarter. Sei Investments Co. now owns 469,262 shares of the real estate investment trust’s stock valued at $13,501,000 after buying an additional 25,374 shares during the period. National Bank of Canada FI raised its holdings in Vornado Realty Trust by 7.9% during the first quarter. National Bank of Canada FI now owns 917,100 shares of the real estate investment trust’s stock worth $26,385,000 after purchasing an additional 67,100 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Vornado Realty Trust during the first quarter worth approximately $12,824,000. Nomura Holdings Inc. boosted its stake in Vornado Realty Trust by 2,410.2% during the 4th quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock valued at $27,488,000 after purchasing an additional 934,271 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Vornado Realty Trust by 2,229.1% during 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 in the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Trading Down 1.8 %

VNO opened at $38.62 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 257.47 and a beta of 1.65. The firm has a 50 day simple moving average of $34.58 and a 200 day simple moving average of $29.18. Vornado Realty Trust has a fifty-two week low of $18.36 and a fifty-two week high of $40.37.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). The company had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, sell-side analysts anticipate that Vornado Realty Trust will post 2.17 earnings per share for the current year.

Analyst Ratings Changes

VNO has been the topic of several recent research reports. Evercore ISI lifted their price objective on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Bank of America upped their price target on Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. BMO Capital Markets raised Vornado Realty Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Barclays lifted their target price on Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. Finally, Compass Point upped their target price on Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Four 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.43.

Insider Transactions at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of Vornado Realty Trust stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $28.19, for a total value of $56,380.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.14% of the stock is owned by insiders.

Vornado Realty Trust Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.