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Fly News Breaks for January 26, 2016
VNO
Jan 26, 2016 | 05:46 EDT
Barclays analyst Ross Smotrich downgraded Vornado Realty Trust to Equal Weight saying multiple expansion for REITs is unlikely in 2016 given the potential for rising interest rates and decelerating FFO growth. The analyst cut his price target for the shares to $97 from $103.
News For VNO From the Last 2 Days
VNO
Mar 26, 2024 | 20:26 EDT
Barclays analyst Brendan Lynch initiated coverage of Vornado with an Underweight rating and $22 price target. The analyst cites the company's concentrated exposure and slow pace of lease-up in the Penn district for the sell rating. The firm says Vornado's leasing volume has been slow and management has pushed back its time frame for stabilization of Penn 2 to 2026. It thinks there could be additional delays.