Vornado Realty Trust (NYSE:VNO) Lifted to Equal Weight at Morgan Stanley

Vornado Realty Trust (NYSE:VNO - Get Free Report) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage presently has a $26.00 price objective on the real estate investment trust's stock, up from their previous price objective of $24.00. Morgan Stanley's price objective would indicate a potential downside of 9.63% from the company's current price.

VNO has been the topic of a number of other reports. The Goldman Sachs Group dropped 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 research note on Thursday, February 22nd. Truist Financial boosted 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. Barclays initiated coverage on shares of Vornado Realty Trust in a report on Wednesday. They issued an "underweight" rating and a $22.00 target price on the stock. Piper Sandler raised their price objective on shares of Vornado Realty Trust from $16.00 to $25.00 and gave the company an "underweight" rating in a research report on Wednesday, December 20th. Finally, TheStreet raised Vornado Realty Trust from a "d+" rating to a "c-" rating in a research note on Thursday, December 28th. Six investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $24.80.

Vornado Realty Trust Stock Performance

NYSE VNO traded up $1.29 during trading hours on Thursday, hitting $28.77. The company had a trading volume of 4,496,441 shares, compared to its average volume of 2,324,088. The business has a 50 day moving average of $26.51 and a 200-day moving average of $25.10. The company has a debt-to-equity ratio of 1.82, a quick ratio of 4.95 and a current ratio of 4.95. Vornado Realty Trust has a 1-year low of $12.31 and a 1-year high of $32.21. The company has a market cap of $5.48 billion, a PE ratio of 125.09 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.55). The firm had revenue of $441.89 million for the quarter, compared to analyst estimates of $453.82 million. Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The company's quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. As a group, equities research analysts expect that Vornado Realty Trust will post 2.3 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VNO. Vanguard Group Inc. boosted its stake in shares of Vornado Realty Trust by 1.0% during the third quarter. Vanguard Group Inc. now owns 27,358,232 shares of the real estate investment trust's stock valued at $633,617,000 after acquiring an additional 282,152 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Vornado Realty Trust by 30.0% during the first quarter. BlackRock Inc. now owns 20,448,221 shares of the real estate investment trust's stock worth $314,289,000 after buying an additional 4,723,170 shares in the last quarter. Norges Bank acquired a new position in shares of Vornado Realty Trust in the fourth quarter valued at approximately $376,294,000. State Street Corp lifted its stake in shares of Vornado Realty Trust by 5.6% during the third quarter. State Street Corp now owns 14,749,324 shares of the real estate investment trust's stock valued at $341,594,000 after buying an additional 776,978 shares during the period. Finally, Putnam Investments LLC boosted its position in Vornado Realty Trust by 3.0% during the fourth quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust's stock worth $281,897,000 after acquiring an additional 288,952 shares during the last quarter. 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.