Vornado Realty Trust (VNO) Releases Quarterly Earnings Results, Beats Estimates By $0.90 EPS

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.

Earnings History for Vornado Realty Trust (NYSE:VNO)

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