Vornado Realty Trust (NYSE:VNO) Price Target Lowered to $21.00 at Barclays

Vornado Realty Trust (NYSE:VNO) had its price target lowered by Barclays from $22.00 to $21.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential downside of 11.95% from the company’s current price.

Several other analysts have also recently commented on the company. Morgan Stanley upgraded Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $24.00 to $26.00 in a report on Thursday, March 28th. The Goldman Sachs Group decreased their price objective on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 22nd. Scotiabank dropped their target price on shares of Vornado Realty Trust from $24.00 to $23.00 and set a “sector perform” rating for the company in a research note on Thursday, May 16th. Evercore ISI decreased their price target on shares of Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating on the stock in a research note on Thursday, February 15th. Finally, Compass Point dropped their price objective on shares of Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.45.

Vornado Realty Trust Price Performance

NYSE:VNO traded up $0.47 during mid-day trading on Friday, hitting $23.85. The company’s stock had a trading volume of 359,150 shares, compared to its average volume of 2,125,448. Vornado Realty Trust has a fifty-two week low of $12.82 and a fifty-two week high of $32.21. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 1.81. The stock has a fifty day moving average of $26.36 and a 200-day moving average of $26.26. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 158.88 and a beta of 1.57.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors have recently made changes to their positions in the company. Atria Investments Inc bought a new stake in shares of Vornado Realty Trust in the first quarter valued at about $1,429,000. Levin Capital Strategies L.P. boosted its holdings in Vornado Realty Trust by 27.8% in the 1st quarter. Levin Capital Strategies L.P. now owns 23,000 shares of the real estate investment trust’s stock valued at $662,000 after purchasing an additional 5,000 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Vornado Realty Trust by 9.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,187 shares of the real estate investment trust’s stock valued at $351,000 after purchasing an additional 1,013 shares during the period. Masters Capital Management LLC acquired a new position in shares of Vornado Realty Trust during the 1st quarter worth approximately $6,042,000. Finally, Price T Rowe Associates Inc. MD increased its holdings 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 worth $178,264,000 after purchasing an additional 44,147 shares during the period. 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.