Goldman Sachs Downgrades Vornado Realty Trust (VNO) to Sell

November 21, 2011 6:52 AM EST
Get Alerts VNO Hot Sheet
Price: $104.29 --0%

Rating Summary:
    8 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Goldman Sachs downgraded Vornado Realty Trust (NYSE: VNO) from Neutral to Sell with a price target of $71 (down from $77).

The firm calls their new rating a "relative sell call" as they forecast only a modest negative total return vs. our flat return expectation for REITs. Goldman expects the company's growth profile to lag the peer average over the next four quarters given portfolio repositioning and limited investment activity.

For an analyst ratings summary and ratings history on Vornado Realty Trust click here. For more ratings news on Vornado Realty Trust click here.

Shares of Vornado Realty Trust closed at $75.73 yesterday.

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