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

Shares of Vornado Realty Trust (NYSE:VNO) saw an uptick in trading volume on Wednesday . 2,295,751 shares changed hands during mid-day 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

Several brokerages have issued reports on VNO. Compass Point decreased their price objective on shares of Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Piper Sandler decreased their price target on shares of Vornado Realty Trust from $25.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, May 13th. Scotiabank decreased their price target on shares of Vornado Realty Trust from $24.00 to $23.00 and set a “sector perform” rating for the company in a research note on Thursday, May 16th. BMO Capital Markets decreased their price target on shares of Vornado Realty Trust from $31.00 to $29.00 and set a “market perform” rating for the company in a research note on Wednesday, June 12th. Finally, Barclays decreased their price target on shares of Vornado Realty Trust from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Friday, May 24th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.27.

Vornado Realty Trust Stock Down 1.5 %

The company’s fifty day simple moving average is $25.06 and its 200-day simple moving average is $26.50. The company has a debt-to-equity ratio of 1.81, a current ratio of 4.97 and a quick ratio of 4.97. The firm has a market capitalization of $4.78 billion, a PE ratio of 167.81 and a beta of 1.59.

Hedge Funds Weigh In On Vornado Realty Trust

Several hedge funds have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Vornado Realty Trust in the third quarter worth about $445,000. Envestnet Asset Management Inc. lifted its stake in Vornado Realty Trust by 35.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 426,691 shares of the real estate investment trust’s stock valued at $9,677,000 after acquiring an additional 111,509 shares during the period. Mariner LLC lifted its stake in Vornado Realty Trust by 10.1% during the 3rd quarter. Mariner LLC now owns 45,259 shares of the real estate investment trust’s stock valued at $1,026,000 after acquiring an additional 4,144 shares during the period. Algert Global LLC acquired a new stake in Vornado Realty Trust during the 3rd quarter valued at approximately $519,000. Finally, Natixis Advisors L.P. lifted its stake in Vornado Realty Trust by 15.4% during the 3rd quarter. Natixis Advisors L.P. now owns 16,834 shares of the real estate investment trust’s stock valued at $382,000 after acquiring an additional 2,251 shares during the period. 90.02% of the stock is 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.