Vornado Realty Trust (NYSE:VNO) Given Average Recommendation of “Reduce” by Brokerages

Vornado Realty Trust (NYSE:VNO) has been given an average recommendation of “Reduce” by the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.55.

A number of equities research analysts have issued reports on the stock. Compass Point reduced their target price on shares of Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. The Goldman Sachs Group dropped their target price on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, February 22nd. Barclays assumed coverage on shares of Vornado Realty Trust in a research report on Wednesday, March 27th. They set an “underweight” rating and a $22.00 price objective on the stock. Scotiabank lowered their target price on shares of Vornado Realty Trust from $24.00 to $23.00 and set a “sector perform” rating on the stock in a report on Thursday, May 16th. Finally, Piper Sandler lowered their target price on shares of Vornado Realty Trust from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, May 13th.

Vornado Realty Trust Stock Performance

NYSE:VNO opened at $24.02 on Thursday. The company has a debt-to-equity ratio of 1.81, a current ratio of 4.97 and a quick ratio of 4.97. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 160.14 and a beta of 1.57. The company’s 50-day moving average is $26.39 and its two-hundred day moving average is $26.28. Vornado Realty Trust has a 1-year low of $12.82 and a 1-year high of $32.21.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors have recently bought and sold shares of VNO. Norges Bank acquired a new position in shares of Vornado Realty Trust during the fourth quarter worth $489,922,000. Kemnay Advisory Services Inc. acquired a new stake in Vornado Realty Trust in the third quarter valued at $132,326,000. Deutsche Bank AG raised its holdings in Vornado Realty Trust by 141.9% in the third quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock valued at $96,128,000 after acquiring an additional 2,486,439 shares in the last quarter. Rush Island Management LP acquired a new stake in Vornado Realty Trust in the third quarter valued at $27,901,000. Finally, Nomura Holdings Inc. raised its holdings in Vornado Realty Trust by 2,410.2% in the fourth quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock valued at $27,488,000 after acquiring an additional 934,271 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

About Vornado Realty Trust

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.