Q3 2017 EPS Estimates for Vornado Realty Trust Lowered by Analyst (VNO)
Vornado Realty Trust (NYSE:VNO) – Analysts at SunTrust Banks cut their Q3 2017 earnings estimates for shares of Vornado Realty Trust in a note issued to investors on Tuesday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings of $0.75 per share for the quarter, down from their previous forecast of $1.34. SunTrust Banks also issued estimates for Vornado Realty Trust’s Q4 2017 earnings at $0.95 EPS, FY2017 earnings at $4.06 EPS, Q1 2018 earnings at $0.92 EPS, Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.00 EPS, FY2018 earnings at $3.91 EPS, FY2019 earnings at $4.18 EPS, FY2020 earnings at $4.60 EPS and FY2021 earnings at $4.92 EPS.
Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, May 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.64. Vornado Realty Trust had a net margin of 42.35% and a return on equity of 6.84%. The company had revenue of $620.85 million for the quarter, compared to analyst estimates of $642 million. During the same quarter in the prior year, the business posted ($0.61) EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/07/20/q3-2017-eps-estimates-for-vornado-realty-trust-lowered-by-analyst-vno.html.
Several other research analysts have also recently issued reports on the stock. Citigroup Inc. decreased their target price on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating for the company in a report on Wednesday. Barclays PLC decreased their target price on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating for the company in a report on Tuesday. Evercore ISI raised shares of Vornado Realty Trust from an “in-line” rating to an “outperform” rating and set a $106.00 target price for the company in a report on Monday, July 10th. BidaskClub raised shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, TheStreet cut shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $104.88.
Shares of Vornado Realty Trust (NYSE:VNO) opened at 80.56 on Thursday. Vornado Realty Trust has a 1-year low of $69.81 and a 1-year high of $90.32. The stock has a market cap of $15.25 billion, a price-to-earnings ratio of 15.56 and a beta of 0.96. The firm has a 50-day moving average of $76.05 and a 200 day moving average of $81.07.
Hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments LLC purchased a new stake in Vornado Realty Trust during the first quarter worth $219,000. Parametrica Management Ltd purchased a new stake in Vornado Realty Trust during the first quarter worth $223,000. Bank of Montreal Can boosted its stake in Vornado Realty Trust by 3.7% in the first quarter. Bank of Montreal Can now owns 76,938 shares of the real estate investment trust’s stock worth $7,718,000 after buying an additional 2,779 shares in the last quarter. National Pension Service boosted its stake in Vornado Realty Trust by 5.7% in the first quarter. National Pension Service now owns 153,791 shares of the real estate investment trust’s stock worth $15,436,000 after buying an additional 8,312 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in Vornado Realty Trust by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 52,061 shares of the real estate investment trust’s stock worth $5,222,000 after buying an additional 700 shares in the last quarter. Institutional investors own 87.55% of the company’s stock.
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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