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

Morgan Stanley upgraded shares of Vornado Realty Trust (NYSE:VNO – Free Report) from an underweight rating to an equal weight rating in a research note published on Thursday, MarketBeat.com reports. They currently have $26.00 price target on the real estate investment trust’s stock, up from their previous price target of $24.00.

Several other brokerages have also issued reports on VNO. 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 research report on Thursday, February 15th. TheStreet upgraded shares of Vornado Realty Trust from a d+ rating to a c- rating in a research report on Thursday, December 28th. Barclays began coverage on shares of Vornado Realty Trust in a research report on Wednesday. They issued an underweight rating and a $22.00 target price on the stock. Truist Financial lifted their target price on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the company a hold rating in a research report on Wednesday, December 20th. Finally, BMO Capital Markets upgraded shares of Vornado Realty Trust from an underperform rating to a market perform rating and boosted their price target for the stock from $25.00 to $31.00 in a research report on Friday, December 15th. Six investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $24.80.

View Our Latest Report on VNO

Vornado Realty Trust Stock Up 4.7 %

VNO opened at $28.77 on Thursday. Vornado Realty Trust has a fifty-two week low of $12.31 and a fifty-two week high of $32.21. The company has a debt-to-equity ratio of 1.82, a quick ratio of 4.95 and a current ratio of 4.95. The company has a fifty day moving average of $26.51 and a two-hundred day moving average of $25.10. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 125.09 and a beta of 1.56.

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

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in VNO. Norges Bank purchased a new stake in shares of Vornado Realty Trust in the 4th quarter valued at approximately $376,294,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Vornado Realty Trust in the 3rd quarter valued at approximately $132,326,000. BlackRock Inc. raised its stake in shares of 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 acquiring an additional 4,723,170 shares during the period. Deutsche Bank AG raised its stake in shares of Vornado Realty Trust by 141.9% in the 3rd quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock valued at $96,128,000 after acquiring an additional 2,486,439 shares during the period. Finally, Waterfront Capital Partners LLC purchased a new stake in shares of Vornado Realty Trust in the 2nd quarter valued at approximately $26,852,000. 90.02% of the stock is owned by hedge funds and other institutional investors.

About Vornado Realty Trust

(Get Free Report)

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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