Analysts Anticipate Vornado Realty Trust (VNO) Will Post Earnings of $0.84 Per Share
Equities research analysts predict that Vornado Realty Trust (NYSE:VNO) will report $0.84 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Vornado Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.99. Vornado Realty Trust posted earnings per share of $0.39 during the same quarter last year, which indicates a positive year over year growth rate of 115.4%. The business is expected to issue its next earnings results on Monday, October 30th.
On average, analysts expect that Vornado Realty Trust will report full year earnings of $4.22 per share for the current financial year, with EPS estimates ranging from $4.02 to $4.44. For the next financial year, analysts anticipate that the company will post earnings of $3.99 per share, with EPS estimates ranging from $3.86 to $4.20. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Vornado Realty Trust.
Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.09. The business had revenue of $626.04 million during the quarter, compared to analyst estimates of $633.19 million. Vornado Realty Trust had a return on equity of 4.51% and a net margin of 37.96%. Vornado Realty Trust’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS.
VNO has been the subject of several recent research reports. Bank of America Corporation reissued a “buy” rating and issued a $113.00 price target (up from $112.00) on shares of Vornado Realty Trust in a research note on Thursday, June 22nd. Citigroup Inc. lowered their price target on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, July 19th. Argus raised shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Thursday, August 24th. TheStreet downgraded shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $95.00 price objective (down from $111.00) on shares of Vornado Realty Trust in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $96.30.
Shares of Vornado Realty Trust (VNO) traded up 0.80% on Friday, reaching $74.11. The company had a trading volume of 149,670 shares. The company has a market capitalization of $14.04 billion, a PE ratio of 16.01 and a beta of 0.99. Vornado Realty Trust has a one year low of $69.81 and a one year high of $90.32. The company’s 50-day moving average is $76.49 and its 200-day moving average is $78.76.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Thursday, August 3rd. Vornado Realty Trust’s dividend payout ratio (DPR) is 51.72%.
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A number of hedge funds have recently added to or reduced their stakes in VNO. Bessemer Group Inc. raised its stake in Vornado Realty Trust by 62.1% in the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 419 shares in the last quarter. Sun Life Financial INC raised its stake in Vornado Realty Trust by 13,866.7% in the second quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 1,248 shares in the last quarter. Harvest Fund Management Co. Ltd raised its stake in Vornado Realty Trust by 62.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,300 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 500 shares in the last quarter. Perigon Wealth Management LLC bought a new position in Vornado Realty Trust in the first quarter worth about $139,000. Finally, Advisors Asset Management Inc. raised its stake in Vornado Realty Trust by 98.9% in the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 741 shares in the last quarter. 86.07% of the stock is owned by institutional investors.
About Vornado Realty Trust
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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