Vornado Realty Trust (NYSE:VNO) Expected to Post Earnings of $0.78 Per Share

Equities research analysts forecast that Vornado Realty Trust (NYSE:VNO) will report $0.78 earnings per share for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Vornado Realty Trust’s earnings. The highest EPS estimate is $0.81 and the lowest is $0.74. Vornado Realty Trust posted earnings of $0.79 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The firm is scheduled to report its next quarterly earnings results on Monday, May 4th.

On average, analysts expect that Vornado Realty Trust will report full-year earnings of $3.33 per share for the current fiscal year, with EPS estimates ranging from $3.06 to $3.47. For the next year, analysts forecast that the firm will report earnings of $3.47 per share, with EPS estimates ranging from $3.13 to $3.79. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Vornado Realty Trust.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Tuesday, February 18th. The real estate investment trust reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.14. Vornado Realty Trust had a return on equity of 4.54% and a net margin of 163.55%. The company had revenue of $460.97 million during the quarter, compared to analyst estimates of $451.12 million. During the same quarter last year, the business posted $0.34 EPS. The firm’s quarterly revenue was down 15.2% on a year-over-year basis.

VNO has been the subject of several recent research reports. BMO Capital Markets increased their target price on shares of Vornado Realty Trust from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Barclays dropped their target price on shares of Vornado Realty Trust from $79.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Bank of America lowered shares of Vornado Realty Trust from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a research report on Thursday, February 20th. Cfra lowered shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Finally, SunTrust Banks lowered shares of Vornado Realty Trust from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Vornado Realty Trust currently has an average rating of “Hold” and a consensus price target of $71.75.

In other news, EVP Barry Langer sold 4,255 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $66.61, for a total value of $283,425.55. Following the completion of the sale, the executive vice president now owns 16,221 shares of the company’s stock, valued at approximately $1,080,480.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.59% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of VNO. Nissay Asset Management Corp Japan ADV grew its position in Vornado Realty Trust by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 26,940 shares of the real estate investment trust’s stock worth $1,792,000 after acquiring an additional 199 shares in the last quarter. Utah Retirement Systems raised its position in shares of Vornado Realty Trust by 0.4% in the 4th quarter. Utah Retirement Systems now owns 45,607 shares of the real estate investment trust’s stock valued at $3,033,000 after acquiring an additional 200 shares during the period. Quantum Capital Management raised its holdings in Vornado Realty Trust by 26.2% during the 4th quarter. Quantum Capital Management now owns 1,022 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 212 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Vornado Realty Trust by 20.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,278 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 216 shares during the period. Finally, Colony Group LLC raised its holdings in Vornado Realty Trust by 5.9% during the 4th quarter. Colony Group LLC now owns 4,528 shares of the real estate investment trust’s stock worth $301,000 after buying an additional 252 shares during the period. 86.88% of the stock is owned by institutional investors and hedge funds.

Shares of Vornado Realty Trust stock traded up $2.49 during trading hours on Thursday, reaching $37.04. 2,899,215 shares of the company were exchanged, compared to its average volume of 2,777,688. Vornado Realty Trust has a 1 year low of $27.64 and a 1 year high of $70.45. The stock’s fifty day moving average is $53.44 and its 200 day moving average is $62.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 5.56 and a current ratio of 5.56. The firm has a market cap of $6.47 billion, a PE ratio of 2.29, a PEG ratio of 3.19 and a beta of 1.17.

Vornado Realty Trust Company Profile

Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.

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Earnings History and Estimates for Vornado Realty Trust (NYSE:VNO)

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