Wealth Enhancement Advisory Services LLC Trims Position in Vornado Realty Trust (NYSE:VNO)

Wealth Enhancement Advisory Services LLC lowered its holdings in Vornado Realty Trust (NYSE:VNO) by 84.9% in the third quarter, Holdings Channel.com reports. The firm owned 13,648 shares of the real estate investment trust’s stock after selling 76,992 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Vornado Realty Trust were worth $538,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp increased its stake in Vornado Realty Trust by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 139,917 shares of the real estate investment trust’s stock worth $4,025,000 after acquiring an additional 2,050 shares during the last quarter. Duality Advisers LP purchased a new position in Vornado Realty Trust in the first quarter valued at approximately $233,000. Envestnet Portfolio Solutions Inc. raised its holdings in Vornado Realty Trust by 3.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 386 shares during the period. Hilltop National Bank acquired a new position in Vornado Realty Trust during the first quarter valued at approximately $159,000. Finally, Sei Investments Co. increased its position in shares of Vornado Realty Trust by 5.7% in the first quarter. Sei Investments Co. now owns 469,262 shares of the real estate investment trust’s stock worth $13,501,000 after acquiring an additional 25,374 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Stock Performance

Shares of NYSE VNO opened at $45.75 on Friday. The company has a debt-to-equity ratio of 1.93, a current ratio of 4.97 and a quick ratio of 5.21. Vornado Realty Trust has a one year low of $19.63 and a one year high of $45.90. The business’s 50-day moving average price is $39.54 and its two-hundred day moving average price is $31.62. The company has a market capitalization of $8.72 billion, a P/E ratio of -157.76 and a beta of 1.64.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share 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 analyst estimates of $445.07 million. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. Vornado Realty Trust’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Analysts anticipate that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on VNO. Evercore ISI raised their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday. Scotiabank raised their target price on Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Barclays upped their price target on Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Bank of America lifted their price objective on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler restated a “neutral” rating and issued a $44.00 target price (up from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Vornado Realty Trust currently has an average rating of “Hold” and an average price target of $34.07.

About Vornado Realty Trust

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