Vornado price target lowered to $23 from $24 at Scotiabank

Scotiabank lowered the firm’s price target on Vornado to $23 from $24 and keeps a Sector Perform rating on the shares. The firm reviewed several key themes from the recent Q1 results and adjusted estimates, the analyst tells investors. U.S. REITS continue to screen historically cheap to the S&P 600, and the firm remains positive on Seniors Housing, Data Centers, and Industrial.