Envestnet Asset Management Inc. Buys 8,464 Shares of Vornado Realty Trust (NYSE:VNO)

Envestnet Asset Management Inc. boosted its stake in Vornado Realty Trust (NYSE:VNO) by 4.0% in the 2nd quarter, Holdings Channel reports. The firm owned 222,661 shares of the real estate investment trust’s stock after acquiring an additional 8,464 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Vornado Realty Trust were worth $5,854,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Pinebridge Investments L.P. bought a new stake in shares of Vornado Realty Trust during the 4th quarter valued at about $2,320,000. Waterloo Capital L.P. purchased a new position in shares of Vornado Realty Trust during the fourth quarter valued at approximately $2,410,000. Sei Investments Co. increased its stake in shares of Vornado Realty Trust by 5.7% during the first 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 grew its stake in Vornado Realty Trust by 7.9% in 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 during the period. Finally, Cibc World Markets Corp grew its stake in Vornado Realty Trust by 14.9% in the fourth quarter. Cibc World Markets Corp now owns 413,568 shares of the real estate investment trust’s stock worth $11,683,000 after purchasing an additional 53,568 shares during the period. Institutional investors own 90.02% of the company’s stock.

Insider Activity at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the 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 completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at $85,528.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.14% of the company’s stock.

Vornado Realty Trust Stock Up 0.1 %

Vornado Realty Trust stock opened at $38.88 on Monday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. The business’s 50-day simple moving average is $33.34 and its two-hundred day simple moving average is $28.64. The company has a market cap of $7.41 billion, a PE ratio of 259.22 and a beta of 1.65. Vornado Realty Trust has a fifty-two week low of $18.36 and a fifty-two week high of $39.91.

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

Analysts Set New Price Targets

Several research firms have commented on VNO. Bank of America boosted their target price on Vornado Realty Trust from $26.00 to $35.00 and gave the stock 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 increased their price target for the company from $29.00 to $40.00 in a research note on Thursday, August 8th. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a report on Saturday, July 20th. Evercore ISI lifted their target price on Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, Barclays boosted their price target on Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.43.

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.