2023-06-30 10:12:48 ET
- Vornado ( NYSE: VNO ) rose 6.7% amid some speculation it could become attractive to an activist investor.
- The office REIT could potentially be a target for an activist on concerns about a lack of return to the office, combined with mounting losses and its debt load, according to an Activist Insight report that traders circulated on Friday. Vornado ( VNO ) is in the 97th percentile in the Insightia Vulnerability analysis of companies most likely to be targeted by an activist investor in the coming nine months.
- The report comes after Vornado ( VNO ) said it suspended its dividend in late April until the end of the year. Vornado shares have dropped 13% this year.
- Vornado's ( VNO ) short interest is 12.5%.
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Vornado gains amid speculation it could become activist target