Truist Financial has downgraded Vornado Realty Trust from a “buy” rating to a “hold” rating in a recent note to investors. The firm’s price objective for Vornado’s stock has also been increased from $22.00 to $27.00, indicating a potential upside of 6.97% from the current price.
Several other reports have also been issued on Vornado Realty Trust. Evercore ISI raised the company’s price objective from $21.00 to $25.00 and gave it an “in-line” rating. StockNews.com downgraded the stock from a “hold” rating to a “sell” rating. Bank of America boosted the price objective from $18.00 to $24.00 and rated the stock as “neutral”. Overall, the stock has an average rating of “hold” and an average price target of $19.40.
Vornado Realty Trust’s stock performance on the NYSE saw it open at $25.24 on Friday. The company has a market cap of $4.81 billion, a debt-to-equity ratio of 1.72, and a beta of 1.47. Its 52-week low is $12.31, and its 52-week high is $26.93. The stock has a negative price-to-earnings ratio of -11.17.
Hedge funds and other institutional investors have shown interest in Vornado Realty Trust. Deutsche Bank AG increased its holdings by 24.5% in the fourth quarter. Commonwealth Equity Services LLC raised its holdings by 17.5% in the first quarter. New York State Teachers Retirement System boosted its holdings by 20.8% in the first quarter. H 2 Credit Manager LP also raised its holdings by 83.4% in the first quarter. Currently, 75.86% of the stock is owned by hedge funds and other institutional investors.
Vornado Realty Trust is a real estate investment trust with a portfolio of premier New York City office and retail assets. The company is also the developer of the new PENN DISTRICT. In addition to its holdings in New York, Vornado owns prime assets in Chicago and San Francisco. The company is known for its commitment to sustainability, with over 27 million square feet of LEED-certified buildings.
This article was generated by Narrative Science technology and based on information from MarketBeat.
Source: claytoncountyregister.com
