Vornado Realty Trust (NYSE:VNO) Expected to Post Earnings of $0.84 Per Share

Wall Street analysts expect Vornado Realty Trust (NYSE:VNO) to post $0.84 earnings per share for the current quarter, according to Zacks. Ten analysts have made estimates for Vornado Realty Trust’s earnings. The highest EPS estimate is $0.90 and the lowest is $0.79. Vornado Realty Trust posted earnings of $0.90 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.7%. The firm is scheduled to issue its next earnings report on Monday, February 10th.

According to Zacks, analysts expect that Vornado Realty Trust will report full year earnings of $3.41 per share for the current fiscal year, with EPS estimates ranging from $3.36 to $3.43. For the next financial year, analysts expect that the firm will post earnings of $3.47 per share, with EPS estimates ranging from $3.22 to $3.67. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Vornado Realty Trust.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.46). The business had revenue of $465.96 million for the quarter, compared to analysts’ expectations of $457.27 million. Vornado Realty Trust had a return on equity of 4.90% and a net margin of 151.59%. The business’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share.

Several research analysts have weighed in on the stock. SunTrust Banks lowered their target price on shares of Vornado Realty Trust from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley downgraded shares of Vornado Realty Trust from an “overweight” rating to an “equal” rating and reduced their price target for the company from $72.00 to $68.00 in a research note on Friday, October 11th. Barclays set a $79.00 price target on shares of Vornado Realty Trust and gave the company a “hold” rating in a research note on Friday, October 11th. Goldman Sachs Group started coverage on shares of Vornado Realty Trust in a report on Friday, November 8th. They issued a “neutral” rating and a $69.00 price objective on the stock. Finally, Citigroup lowered their price objective on shares of Vornado Realty Trust from $77.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.63.

A number of institutional investors have recently made changes to their positions in VNO. Candriam Luxembourg S.C.A. lifted its position in shares of Vornado Realty Trust by 7.5% during the second quarter. Candriam Luxembourg S.C.A. now owns 28,483 shares of the real estate investment trust’s stock worth $1,818,000 after purchasing an additional 1,978 shares in the last quarter. New York State Teachers Retirement System boosted its position in Vornado Realty Trust by 6.5% in the 3rd quarter. New York State Teachers Retirement System now owns 236,133 shares of the real estate investment trust’s stock valued at $15,035,000 after buying an additional 14,356 shares during the period. Capital Fund Management S.A. grew its stake in shares of Vornado Realty Trust by 196.0% in the second quarter. Capital Fund Management S.A. now owns 44,100 shares of the real estate investment trust’s stock worth $2,827,000 after acquiring an additional 29,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Vornado Realty Trust by 5.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,554 shares of the real estate investment trust’s stock worth $5,933,000 after acquiring an additional 5,020 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Vornado Realty Trust by 10.4% during the second quarter. Bank of New York Mellon Corp now owns 1,591,010 shares of the real estate investment trust’s stock worth $101,984,000 after acquiring an additional 149,413 shares during the period. Institutional investors own 76.44% of the company’s stock.

VNO traded up $1.11 on Tuesday, hitting $65.56. The company had a trading volume of 1,683,637 shares, compared to its average volume of 826,070. The company’s fifty day moving average price is $64.45 and its 200 day moving average price is $64.07. Vornado Realty Trust has a 1 year low of $58.60 and a 1 year high of $71.90. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.10. The firm has a market cap of $12.30 billion, a P/E ratio of 17.44, a PEG ratio of 5.91 and a beta of 0.96.

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 4th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Friday, November 1st. Vornado Realty Trust’s payout ratio is 70.21%.

About Vornado Realty Trust

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 2017.

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