Brokerages Anticipate Vornado Realty Trust (VNO) Will Announce Quarterly Sales of $519.47 Million
Wall Street analysts expect Vornado Realty Trust (NYSE:VNO) to report $519.47 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Vornado Realty Trust’s earnings. The lowest sales estimate is $483.00 million and the highest is $547.48 million. Vornado Realty Trust posted sales of $638.26 million in the same quarter last year, which would indicate a negative year over year growth rate of 18.6%. The firm is expected to report its next earnings results on Monday, February 12th.
According to Zacks, analysts expect that Vornado Realty Trust will report full year sales of $519.47 million for the current year, with estimates ranging from $2.13 billion to $2.34 billion. For the next year, analysts forecast that the firm will report sales of $2.10 billion per share, with estimates ranging from $1.92 billion to $2.24 billion. Zacks’ sales calculations 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 data on Monday, October 30th. The real estate investment trust reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.90. The business had revenue of $528.76 million for the quarter, compared to the consensus estimate of $545.53 million. Vornado Realty Trust had a net margin of 35.23% and a return on equity of 4.73%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in VNO. Franklin Resources Inc. raised its stake in Vornado Realty Trust by 767.3% in the second quarter. Franklin Resources Inc. now owns 2,126,678 shares of the real estate investment trust’s stock valued at $199,694,000 after purchasing an additional 1,881,473 shares in the last quarter. JPMorgan Chase & Co. grew its position in Vornado Realty Trust by 23.0% during the third quarter. JPMorgan Chase & Co. now owns 7,221,172 shares of the real estate investment trust’s stock valued at $558,195,000 after acquiring an additional 1,352,088 shares during the last quarter. Long Pond Capital LP bought a new position in Vornado Realty Trust during the third quarter valued at approximately $64,360,000. American Century Companies Inc. bought a new position in Vornado Realty Trust during the third quarter valued at approximately $47,992,000. Finally, Bank of New York Mellon Corp grew its position in Vornado Realty Trust by 12.9% during the second quarter. Bank of New York Mellon Corp now owns 4,577,899 shares of the real estate investment trust’s stock valued at $429,864,000 after acquiring an additional 524,562 shares during the last quarter. 86.22% of the stock is currently owned by institutional investors and hedge funds.
Vornado Realty Trust (VNO) traded up $0.70 during midday trading on Wednesday, reaching $77.71. 908,800 shares of the company’s stock traded hands, compared to its average volume of 1,136,393. The stock has a market capitalization of $14,622.50, a P/E ratio of 18.88, a PEG ratio of 4.63 and a beta of 0.99. Vornado Realty Trust has a 1-year low of $71.89 and a 1-year high of $89.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.26 and a current ratio of 0.26.
The business also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, November 3rd. Vornado Realty Trust’s dividend payout ratio is currently 57.97%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Vornado Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vornado Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.