The Manufacturers Life Insurance Company reduced its position in Vornado Realty Trust (NYSE:VNO) by 20.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 215,370 shares of the real estate investment trust’s stock after selling 55,358 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of Vornado Realty Trust worth $16,344,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kemper Corp Master Retirement Trust boosted its position in shares of Vornado Realty Trust by 0.4% during the 2nd quarter. Kemper Corp Master Retirement Trust now owns 6,700 shares of the real estate investment trust’s stock worth $629,000 after purchasing an additional 25 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Vornado Realty Trust by 0.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,459 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 29 shares in the last quarter. Parametrica Management Ltd boosted its position in shares of Vornado Realty Trust by 2.4% during the 2nd quarter. Parametrica Management Ltd now owns 2,281 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 53 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Vornado Realty Trust by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 16,239 shares of the real estate investment trust’s stock worth $1,525,000 after purchasing an additional 59 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Vornado Realty Trust by 1.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 5,550 shares of the real estate investment trust’s stock worth $557,000 after purchasing an additional 90 shares in the last quarter. 85.94% of the stock is currently owned by institutional investors.

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Several equities research analysts have commented on VNO shares. Argus upgraded shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Thursday, August 24th. TheStreet lowered shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a research report on Tuesday, June 20th. Barclays PLC decreased their price objective on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Citigroup Inc. decreased their price objective on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $81.00 price objective on shares of Vornado Realty Trust in a research report on Saturday, July 22nd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $95.58.

Shares of Vornado Realty Trust (VNO) opened at 78.28 on Wednesday. The firm has a market cap of $14.83 billion, a P/E ratio of 16.91 and a beta of 1.00. Vornado Realty Trust has a 52-week low of $69.81 and a 52-week high of $90.32. The company’s 50-day moving average is $75.98 and its 200-day moving average is $77.06.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.09. Vornado Realty Trust had a return on equity of 4.51% and a net margin of 37.96%. The firm had revenue of $626.04 million during the quarter, compared to analyst estimates of $633.19 million. During the same period last year, the company posted $1.21 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts forecast that Vornado Realty Trust will post $1.25 earnings per share for the current fiscal year.

About Vornado Realty Trust

Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.

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Institutional Ownership by Quarter for Vornado Realty Trust (NYSE:VNO)

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