Vornado Realty Trust (NYSE:VNO) posted its earnings results on Monday. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.90, Bloomberg Earnings reports. The company had revenue of $528.76 million during the quarter, compared to analyst estimates of $545.53 million. Vornado Realty Trust had a return on equity of 4.32% and a net margin of 35.23%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS.
Shares of Vornado Realty Trust (VNO) opened at 74.86 on Wednesday. The firm has a 50-day moving average price of $76.05 and a 200 day moving average price of $76.47. The company has a market cap of $14.18 billion, a PE ratio of 16.17 and a beta of 1.00. Vornado Realty Trust has a 1-year low of $72.27 and a 1-year high of $111.72.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 6th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, November 3rd. Vornado Realty Trust’s payout ratio is 57.97%.
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Several research firms have recently weighed in on VNO. Barclays PLC cut their price objective on Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 18th. Evercore ISI upgraded Vornado Realty Trust from an “in-line” rating to an “outperform” rating and set a $106.00 price objective on the stock in a report on Monday, July 10th. BidaskClub cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, October 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $81.00 price objective on shares of Vornado Realty Trust in a report on Saturday, July 22nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $93.67.
Vornado Realty Trust Company Profile
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.
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