Scotiabank lowered the firm’s price target on Vornado to $24 from $25 and keeps a Sector Perform rating on the shares. The firm believes that at a macro level, Real Estate Investment Trusts, REITs, continue to flash mixed-valuation signals, with REITs cheap compared to the S&P 500, but historically pricey compared to bond yields, the analyst tells investors.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on VNO:
- Vornado announces Avra Group will open new SF Restaurant in The Penn District
- Vornado Realty Trust Announces Famed Avra Group Will Open a New 20,000 SF Restaurant in THE PENN DISTRICT
- Vornado reports Q4 adjusted FFO 63c, consensus 59c
- Vornado Announces Fourth Quarter 2023 Financial Results
- Vornado options imply 5.7% move in share price post-earnings