Vornado Realty Trust (NYSE:VNO) Given New $29.00 Price Target at BMO Capital Markets

Vornado Realty Trust (NYSE:VNOFree Report) had its target price cut by BMO Capital Markets from $31.00 to $29.00 in a research report released on Wednesday, Benzinga reports. They currently have a market perform rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the stock. Compass Point cut 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 research note on Wednesday, May 8th. Evercore ISI lowered their price objective on shares of 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. Morgan Stanley raised shares of Vornado Realty Trust from an underweight rating to an equal weight rating and boosted their price objective for the company from $24.00 to $26.00 in a research report on Thursday, March 28th. Scotiabank lowered their price objective on shares of Vornado Realty Trust from $24.00 to $23.00 and set a sector perform rating for the company in a research report on Thursday, May 16th. Finally, Barclays lowered their price objective on shares of Vornado Realty Trust from $22.00 to $21.00 and set an underweight rating for the company in a research report on Friday, May 24th. Six analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, Vornado Realty Trust has an average rating of Hold and a consensus target price of $24.27.

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Vornado Realty Trust Stock Performance

Shares of VNO stock opened at $25.40 on Wednesday. Vornado Realty Trust has a 12 month low of $14.46 and a 12 month high of $32.21. 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 $4.84 billion, a P/E ratio of 169.34 and a beta of 1.59. The company’s fifty day moving average price is $25.32 and its two-hundred day moving average price is $26.51.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinebridge Investments L.P. bought a new position in shares of Vornado Realty Trust in the fourth quarter valued at approximately $2,320,000. Waterloo Capital L.P. acquired a new stake in Vornado Realty Trust during the fourth quarter valued at approximately $2,410,000. Rheos Capital Works Inc. lifted its position in shares of Vornado Realty Trust by 55.1% in the 4th quarter. Rheos Capital Works Inc. now owns 318,000 shares of the real estate investment trust’s stock valued at $8,984,000 after acquiring an additional 113,000 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of Vornado Realty Trust by 16.8% in the 3rd quarter. Gotham Asset Management LLC now owns 321,993 shares of the real estate investment trust’s stock valued at $7,303,000 after acquiring an additional 46,316 shares in the last quarter. Finally, Rush Island Management LP purchased a new stake in shares of Vornado Realty Trust in the 3rd quarter valued at approximately $27,901,000. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Company Profile

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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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Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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