A text object is an object having neither duration nor pitch. It does have a (relative) position and of course text contents.
To alter the position of text use <alt-> <alt-> <alt-> and <alt-> while the cursor is pointing at the text to move the text object in any direction.
To alter the vertical position of text you may also use <+> or <->.
Text objects have a default size, color and position that may be set in the corresponding text dialog. Individual texts may be sized using <ctrl +> and <ctrl ->
The context menu is available for other properties.