Vornado Realty Trust (NYSE:VNO) Upgraded to “Equal Weight” at 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 report released on Thursday, MarketBeat.com reports. The brokerage presently has a $26.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $24.00. Morgan Stanley’s price objective points to a potential downside of 5.39% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Piper Sandler boosted their price objective 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. Truist Financial increased their price objective on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, December 20th. TheStreet upgraded shares of Vornado Realty Trust from a “d+” rating to a “c-” rating in a report on Thursday, December 28th. Evercore ISI decreased 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. Finally, BMO Capital Markets upgraded shares of Vornado Realty Trust from an “underperform” rating to a “market perform” rating and raised their price target for the company from $25.00 to $31.00 in a report on Friday, December 15th. Six analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.80.

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock opened at $27.48 on Thursday. Vornado Realty Trust has a 12 month low of $12.31 and a 12 month 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 business has a 50 day simple moving average of $26.45 and a two-hundred day simple moving average of $25.08. The stock has a market capitalization of $5.23 billion, a P/E 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 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.55). The firm had revenue of $441.89 million during the quarter, compared to analyst estimates of $453.82 million. Vornado Realty Trust had a net margin of 5.82% and a return on equity of 3.22%. The business’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 earned $0.72 earnings per share. As a group, analysts predict that Vornado Realty Trust will post 2.3 EPS for the current fiscal year.

Institutional Trading of Vornado Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. purchased a new stake in Vornado Realty Trust during the fourth quarter valued at about $26,000. Parkside Financial Bank & Trust raised its stake in Vornado Realty Trust by 170.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,277 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 804 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Vornado Realty Trust in the fourth quarter worth $40,000. Financial Gravity Asset Management Inc. lifted its stake in Vornado Realty Trust by 8,355.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,522 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,504 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in Vornado Realty Trust by 49.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,672 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 556 shares during the period. 90.02% of the stock is currently owned by 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.