Vornado Realty Trust (NYSE:VNO) Releases Earnings Results, Beats Estimates By $0.02 EPS

Vornado Realty Trust (NYSE:VNO) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02, Zacks reports. The business had revenue of $453.70 million during the quarter, compared to the consensus estimate of $435.19 million. Vornado Realty Trust had a return on equity of 19.64% and a net margin of 48.49%.Vornado Realty Trust’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share.

Vornado Realty Trust Stock Performance

VNO opened at $35.05 on Wednesday. Vornado Realty Trust has a 12-month low of $29.68 and a 12-month high of $46.63. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 4.57 and a beta of 1.57. The business has a 50 day moving average of $39.85 and a 200-day moving average of $38.76. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.40.

Insider Activity

In other news, EVP Haim Chera sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $39.64, for a total value of $1,189,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.42% of the stock is currently owned by insiders.

Institutional Trading of Vornado Realty Trust

Several hedge funds have recently added to or reduced their stakes in VNO. State of Wyoming acquired a new stake in Vornado Realty Trust during the 2nd quarter worth approximately $175,000. B. Riley Wealth Advisors Inc. acquired a new stake in Vornado Realty Trust during the 2nd quarter worth approximately $265,000. Marshall Wace LLP acquired a new stake in Vornado Realty Trust during the 2nd quarter worth approximately $763,000. Royal Bank of Canada lifted its holdings in Vornado Realty Trust by 18.3% during the 1st quarter. Royal Bank of Canada now owns 27,507 shares of the real estate investment trust’s stock worth $1,017,000 after purchasing an additional 4,251 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its holdings in Vornado Realty Trust by 21.7% during the 2nd quarter. Engineers Gate Manager LP now owns 29,357 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 5,235 shares during the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Evercore ISI raised their price target on Vornado Realty Trust from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Mizuho decreased their price target on Vornado Realty Trust from $48.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, July 14th. Citigroup upgraded Vornado Realty Trust from a “sell” rating to a “neutral” rating and raised their price target for the company from $34.00 to $42.00 in a research note on Friday, September 12th. Scotiabank decreased their price target on Vornado Realty Trust from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, August 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Vornado Realty Trust in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.42.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.