Vornado Realty Trust (NYSE:VNO) Upgraded to “Equal Weight” by Morgan Stanley

Vornado Realty Trust (NYSE:VNO) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a note issued to investors on Thursday, MarketBeat reports. The firm presently has a $26.00 price target on the real estate investment trust’s stock, up from their previous price target of $24.00. Morgan Stanley’s target price suggests a potential downside of 5.39% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on VNO. Barclays initiated coverage on shares of Vornado Realty Trust in a research note on Wednesday. They set an “underweight” rating and a $22.00 price target on the stock. TheStreet raised shares of Vornado Realty Trust from a “d+” rating to a “c-” rating in a research report on Thursday, December 28th. The Goldman Sachs Group cut 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. Piper Sandler boosted their target price on shares of Vornado Realty Trust from $16.00 to $25.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 20th. Finally, Evercore ISI dropped their target price on shares of Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, February 15th. Six investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.80.

Vornado Realty Trust Stock Performance

NYSE:VNO opened at $27.48 on Thursday. Vornado Realty Trust has a 1-year low of $12.31 and a 1-year high of $32.21. The company has a debt-to-equity ratio of 1.82, a current ratio of 4.95 and a quick ratio of 4.95. The firm’s fifty day moving average price is $26.45 and its 200 day moving average price is $25.08. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 119.48 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). The firm had revenue of $441.89 million for the quarter, compared to analysts’ expectations of $453.82 million. Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, sell-side analysts expect that Vornado Realty Trust will post 2.3 EPS for the current year.

Institutional Trading of Vornado Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Vornado Realty Trust in the 4th quarter valued at approximately $376,294,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Vornado Realty Trust during the 3rd quarter worth approximately $132,326,000. BlackRock Inc. increased its holdings in Vornado Realty Trust by 30.0% in the 1st quarter. BlackRock Inc. now owns 20,448,221 shares of the real estate investment trust’s stock valued at $314,289,000 after buying an additional 4,723,170 shares during the period. Deutsche Bank AG lifted its holdings in shares of Vornado Realty Trust by 141.9% during the 3rd quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock worth $96,128,000 after acquiring an additional 2,486,439 shares during the period. Finally, Waterfront Capital Partners LLC acquired a new position in Vornado Realty Trust in the second quarter worth about $26,852,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.

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.