Vornado Realty Trust (NYSE:VNO) Sees Large Volume Increase

Shares of Vornado Realty Trust (NYSE:VNO) saw strong trading volume on Wednesday . 2,295,751 shares traded 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.

Analysts Set New Price Targets

VNO has been the subject of several research analyst reports. 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 report on Monday, May 13th. Barclays lowered their price target on Vornado Realty Trust from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Friday, May 24th. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a report on Thursday. Scotiabank lowered their target price on 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. Finally, Compass Point cut their price target on shares of Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.27.

Vornado Realty Trust Stock Up 2.5 %

The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 170.74 and a beta of 1.59. 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 50-day moving average of $25.04 and a 200 day moving average of $26.49.

Institutional Trading of Vornado Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in VNO. Contravisory Investment Management Inc. acquired a new stake in shares of Vornado Realty Trust during the 4th quarter worth about $26,000. Financial Gravity Asset Management Inc. increased its stake in Vornado Realty Trust by 8,355.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 1,522 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,504 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Vornado Realty Trust during the 4th quarter worth $40,000. Bruce G. Allen Investments LLC bought a new position in shares of Vornado Realty Trust in the fourth quarter worth about $50,000. Finally, Fidelis Capital Partners LLC bought a new position in Vornado Realty Trust in the 1st quarter valued at approximately $55,000. 90.02% of the stock is 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.