Vornado Realty Trust (NYSE:VNO – Get Rating) had its target price lowered by equities research analysts at Morgan Stanley from $39.00 to $30.00 in a research note issued on Wednesday, Stock Target Advisor reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price indicates a potential downside of 10.45% from the company’s current price.
Other analysts have also issued reports about the company. Piper Sandler lowered Vornado Realty Trust from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $44.00 to $35.00 in a research report on Wednesday, May 4th. Zacks Investment Research lowered Vornado Realty Trust from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a research report on Wednesday, March 9th. BMO Capital Markets lowered Vornado Realty Trust from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $52.00 to $40.00 in a research report on Tuesday. StockNews.com cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, May 9th. Finally, Mizuho assumed coverage on Vornado Realty Trust in a report on Friday, April 22nd. They set an “underperform” rating and a $38.00 target price on the stock. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $40.43.
Shares of NYSE VNO traded down $1.46 during midday trading on Wednesday, reaching $33.50. 6,601 shares of the company traded hands, compared to its average volume of 1,530,556. Vornado Realty Trust has a 12 month low of $32.48 and a 12 month high of $50.91. The firm has a market cap of $6.42 billion, a PE ratio of 51.54 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a quick ratio of 4.70 and a current ratio of 4.70. The stock’s 50-day simple moving average is $39.46 and its 200-day simple moving average is $41.83.
In other Vornado Realty Trust news, Director Michael D. Fascitelli sold 119,100 shares of the business’s stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $41.97, for a total value of $4,998,627.00. Following the sale, the director now owns 1,100,451 shares in the company, valued at approximately $46,185,928.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.87% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VNO. Norges Bank acquired a new position in shares of Vornado Realty Trust during the 4th quarter worth approximately $756,928,000. BlackRock Inc. increased its holdings in shares of Vornado Realty Trust by 5.4% during the 4th quarter. BlackRock Inc. now owns 16,649,268 shares of the real estate investment trust’s stock worth $696,939,000 after acquiring an additional 859,659 shares during the last quarter. State Street Corp increased its holdings in shares of Vornado Realty Trust by 10.8% during the 1st quarter. State Street Corp now owns 13,527,974 shares of the real estate investment trust’s stock worth $613,088,000 after acquiring an additional 1,319,443 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Vornado Realty Trust by 18.2% during the 3rd quarter. Franklin Resources Inc. now owns 5,578,592 shares of the real estate investment trust’s stock worth $234,356,000 after acquiring an additional 860,817 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Vornado Realty Trust by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 3,556,637 shares of the real estate investment trust’s stock worth $148,568,000 after acquiring an additional 38,091 shares during the last quarter. Hedge funds and other institutional investors own 82.19% of the company’s stock.
Vornado Realty Trust Company Profile (Get Rating)
Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.
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