Vornado Realty Trust (NYSE:VNO) Raised to Sell at StockNews.com

StockNews.com upgraded shares of Vornado Realty Trust (NYSE:VNO) to a sell rating in a research note published on Thursday.

Several other brokerages have also recently issued reports on VNO. Compass Point dropped their target price on Vornado Realty Trust from $28.00 to $27.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. Scotiabank dropped their target price on Vornado Realty Trust from $24.00 to $23.00 and set a sector perform rating on the stock in a research report on Thursday, May 16th. Piper Sandler dropped their target price on Vornado Realty Trust from $25.00 to $22.00 and set an underweight rating on the stock in a research report on Monday, May 13th. Morgan Stanley raised Vornado Realty Trust from an underweight rating to an equal weight rating and increased their target price for the company from $24.00 to $26.00 in a research report on Thursday, March 28th. Finally, BMO Capital Markets dropped their target price on Vornado Realty Trust from $31.00 to $29.00 and set a market perform rating on the stock in a research report on Wednesday, June 12th. Six analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $24.27.

Vornado Realty Trust Stock Up 2.7 %

Shares of NYSE:VNO opened at $26.29 on Thursday. Vornado Realty Trust has a 52-week low of $16.50 and a 52-week high of $32.21. The stock has a market cap of $5.01 billion, a P/E ratio of 175.27 and a beta of 1.59. The business’s 50 day moving average is $25.04 and its 200 day moving average is $26.48. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.81.

Hedge Funds Weigh In On Vornado Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Vornado Realty Trust by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock worth $554,726,000 after acquiring an additional 116,504 shares during the last quarter. Norges Bank purchased a new position in shares of Vornado Realty Trust during the 4th quarter valued at about $489,922,000. Putnam Investments LLC raised its stake in shares of Vornado Realty Trust by 3.0% during the 4th quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust’s stock valued at $281,897,000 after buying an additional 288,952 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Vornado Realty Trust by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,196,145 shares of the real estate investment trust’s stock valued at $178,264,000 after buying an additional 44,147 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Vornado Realty Trust during the 3rd quarter valued at about $132,326,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company 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.