Vornado Realty Trust (NYSE:VNO) Sees Strong Trading Volume

Shares of Vornado Realty Trust (NYSE:VNO) saw unusually-strong trading volume on Wednesday . Approximately 2,295,751 shares were traded during trading, an increase of 11% from the previous session’s volume of 2,070,937 shares.The stock last traded at $25.03 and had previously closed at $25.48.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VNO shares. BMO Capital Markets reduced their target price on Vornado Realty Trust from $31.00 to $29.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. Scotiabank cut their price objective on Vornado Realty Trust from $24.00 to $23.00 and set a “sector perform” rating on the stock in a report on Thursday, May 16th. Morgan Stanley upgraded Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Barclays cut their price objective on Vornado Realty Trust from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Friday, May 24th. Finally, Piper Sandler cut their price objective on Vornado Realty Trust from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, May 13th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.27.

Vornado Realty Trust Price Performance

The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 167.81 and a beta of 1.59. The company has a 50-day simple moving average of $25.06 and a two-hundred day simple moving average of $26.50. The company has a debt-to-equity ratio of 1.81, a quick ratio of 4.97 and a current ratio of 4.97.

Institutional Inflows and Outflows

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

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.