BMO Capital upgraded Vornado Realty to Market Perform from Underperform with a price target of $31, up from $25. The analyst has a favorable view of real estate investment trust performance in 2024, largely due to BMO’s view the 10-year will decline to 3.5% by year-end 2024, the analyst tells investors in a research note. The firm says the more benign interest rate backdrop will likely continue to benefit Vornado, “which has a high-quality portfolio, but with high leverage and near-term maturities.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on VNO:
- Vornado just downgraded at Evercore ISI, here’s why
- Vornado Declares Common Dividend of $.30 Per Share
- SL Green and Vornado Announce 270,000-Square-Foot Lease with a Premier Financial Services Tenant at 280 Park Avenue
- SL Green Realty, Vornado sign lease with tenant at 280 Park Avenue
- Vornado price target raised to $18 from $12 at Citi