Vornado Realty Trust (NYSE:VNO – Get Free Report) had its target price dropped by stock analysts at Barclays from $22.00 to $21.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s price objective would suggest a potential downside of 11.95% from the company’s current price.
A number of other analysts also recently issued reports on the stock. Compass Point dropped their price target 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. Morgan Stanley raised Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Evercore ISI reduced their price objective on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, February 15th. 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. Finally, Piper Sandler lowered their price objective on shares of Vornado Realty Trust from $25.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, May 13th. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.45.
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Vornado Realty Trust Stock Up 2.0 %
Institutional Investors Weigh In On Vornado Realty Trust
A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Vornado Realty Trust by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock valued at $554,726,000 after buying an additional 116,504 shares during the period. Norges Bank purchased a new stake in Vornado Realty Trust in the 4th quarter worth about $489,922,000. Putnam Investments LLC lifted its stake in Vornado Realty Trust by 3.0% in the fourth quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust’s stock worth $281,897,000 after purchasing an additional 288,952 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Vornado Realty Trust by 0.7% during the first 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 period. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Vornado Realty Trust during the third quarter valued at approximately $132,326,000. 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.
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