Vornado Realty Trust (VNO) Expected to Post Earnings of $0.99 Per Share

Equities research analysts expect Vornado Realty Trust (NYSE:VNO) to report earnings of $0.99 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Vornado Realty Trust’s earnings, with estimates ranging from $0.94 to $1.02. Vornado Realty Trust reported earnings per share of $0.98 during the same quarter last year, which would suggest a positive year-over-year growth rate of 1%. The company is scheduled to report its next earnings results after the market closes on Monday, February 11th.

According to Zacks, analysts expect that Vornado Realty Trust will report full year earnings of $3.86 per share for the current year, with EPS estimates ranging from $3.80 to $3.89. For the next year, analysts anticipate that the business will post earnings of $4.08 per share, with EPS estimates ranging from $3.86 to $4.66. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Vornado Realty Trust.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $542.05 million for the quarter, compared to analysts’ expectations of $544.62 million. Vornado Realty Trust had a return on equity of 8.55% and a net margin of 16.89%. Vornado Realty Trust’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share.

Several equities research analysts have recently issued reports on the stock. Scotiabank assumed coverage on shares of Vornado Realty Trust in a research report on Tuesday, October 16th. They set an “underperform” rating for the company. Citigroup decreased their price objective on shares of Vornado Realty Trust from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, October 29th. BMO Capital Markets reaffirmed a “buy” rating on shares of Vornado Realty Trust in a research report on Monday, October 15th. Barclays reaffirmed a “hold” rating and set a $68.00 price objective on shares of Vornado Realty Trust in a research report on Friday, December 21st. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Vornado Realty Trust in a research report on Saturday, November 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $78.60.

In related news, EVP Joseph Macnow sold 23,000 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $70.80, for a total value of $1,628,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Fascitelli sold 126,074 shares of the business’s stock in a transaction on Monday, January 14th. The shares were sold at an average price of $64.23, for a total transaction of $8,097,733.02. The disclosure for this sale can be found here. 10.04% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in VNO. Bank of Montreal Can raised its holdings in shares of Vornado Realty Trust by 50.1% in the third quarter. Bank of Montreal Can now owns 199,750 shares of the real estate investment trust’s stock valued at $14,583,000 after buying an additional 66,635 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Vornado Realty Trust in the second quarter valued at about $5,987,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Vornado Realty Trust by 3.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 32,502 shares of the real estate investment trust’s stock valued at $2,373,000 after buying an additional 972 shares during the last quarter. KAMES CAPITAL plc purchased a new stake in shares of Vornado Realty Trust in the third quarter valued at about $186,000. Finally, ING Groep NV purchased a new stake in shares of Vornado Realty Trust in the third quarter valued at about $701,000. 79.13% of the stock is owned by hedge funds and other institutional investors.

Shares of Vornado Realty Trust stock traded down $0.55 during trading on Thursday, hitting $65.84. 40,628 shares of the stock were exchanged, compared to its average volume of 787,931. The stock has a market cap of $12.63 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 4.08 and a beta of 1.01. Vornado Realty Trust has a 12-month low of $59.48 and a 12-month high of $77.59. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 2.36.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, January 28th will be given a $0.66 dividend. The ex-dividend date is Friday, January 25th. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.63. This represents a $2.64 dividend on an annualized basis and a yield of 4.01%. Vornado Realty Trust’s payout ratio is 67.56%.

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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