Vornado Realty Trust (NYSE:VNO) Expected to Announce Earnings of $0.90 Per Share

Brokerages expect that Vornado Realty Trust (NYSE:VNO) will post earnings per share of $0.90 for the current quarter, according to Zacks. Eight analysts have made estimates for Vornado Realty Trust’s earnings, with estimates ranging from $0.80 to $0.97. Vornado Realty Trust posted earnings of $0.97 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 7.2%. The firm is scheduled to announce its next earnings results on Monday, November 4th.

On average, analysts expect that Vornado Realty Trust will report full year earnings of $3.49 per share for the current year, with EPS estimates ranging from $3.31 to $3.61. For the next fiscal year, analysts expect that the company will post earnings of $3.65 per share, with EPS estimates ranging from $3.27 to $4.05. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Vornado Realty Trust.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, July 29th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.72). The business had revenue of $463.10 million for the quarter, compared to the consensus estimate of $517.72 million. Vornado Realty Trust had a net margin of 139.71% and a return on equity of 8.53%. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS.

VNO has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and set a $79.00 price objective on shares of Vornado Realty Trust in a research note on Wednesday, July 31st. Zacks Investment Research upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, May 6th. ValuEngine upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. SunTrust Banks reduced their price objective on Vornado Realty Trust to $74.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. They noted that the move was a valuation call. Finally, Barclays reaffirmed a “hold” rating and issued a $76.00 target price on shares of Vornado Realty Trust in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Vornado Realty Trust currently has an average rating of “Hold” and an average target price of $76.00.

VNO traded up $0.93 on Friday, reaching $61.25. The company had a trading volume of 3,481,300 shares, compared to its average volume of 1,301,342. Vornado Realty Trust has a one year low of $59.48 and a one year high of $77.59. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $11.51 billion, a P/E ratio of 16.29, a PEG ratio of 4.52 and a beta of 0.97. The company has a fifty day moving average of $63.79 and a 200-day moving average of $66.71.

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a dividend of $0.66 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.64 annualized dividend and a dividend yield of 4.31%. Vornado Realty Trust’s payout ratio is currently 70.21%.

Large investors have recently added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in Vornado Realty Trust in the 1st quarter valued at approximately $535,000. Swiss National Bank increased its position in shares of Vornado Realty Trust by 2.6% during the 1st quarter. Swiss National Bank now owns 570,743 shares of the real estate investment trust’s stock worth $38,491,000 after purchasing an additional 14,500 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of Vornado Realty Trust by 8.9% during the 1st quarter. Commonwealth Bank of Australia now owns 20,788 shares of the real estate investment trust’s stock worth $1,394,000 after purchasing an additional 1,700 shares during the last quarter. Cleararc Capital Inc. acquired a new position in shares of Vornado Realty Trust during the 1st quarter worth approximately $284,000. Finally, Pensionfund DSM Netherlands increased its position in shares of Vornado Realty Trust by 118.9% during the 2nd quarter. Pensionfund DSM Netherlands now owns 60,765 shares of the real estate investment trust’s stock worth $3,895,000 after purchasing an additional 33,000 shares during the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.

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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Earnings History and Estimates for Vornado Realty Trust (NYSE:VNO)

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