Wall Street brokerages expect Vornado Realty Trust (NYSE:VNO) to post sales of $518.04 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Vornado Realty Trust’s earnings, with the lowest sales estimate coming in at $488.07 million and the highest estimate coming in at $544.68 million. Vornado Realty Trust reported sales of $633.20 million during the same quarter last year, which indicates a negative year-over-year growth rate of 18.2%. The company is scheduled to report its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that Vornado Realty Trust will report full-year sales of $518.04 million for the current financial year, with estimates ranging from $2.22 billion to $2.34 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.05 billion per share, with estimates ranging from $1.92 billion to $2.23 billion. Zacks’ sales calculations 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.09. The company had revenue of $626.04 million during the quarter, compared to analyst estimates of $633.19 million. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. Vornado Realty Trust’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share.
Several brokerages have weighed in on VNO. Evercore ISI reaffirmed an “outperform” rating and set a $87.00 target price (up previously from $86.00) on shares of Vornado Realty Trust in a research note on Wednesday, August 2nd. Citigroup Inc. lowered their target price 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. BidaskClub lowered shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $81.00 target price on shares of Vornado Realty Trust in a research note on Saturday, July 22nd. Finally, Barclays PLC lowered their target price on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $100.75.
Shares of Vornado Realty Trust (VNO) traded down 0.28% during mid-day trading on Friday, hitting $79.25. 1,478,393 shares of the stock traded hands. The company has a market cap of $15.02 billion, a P/E ratio of 17.12 and a beta of 0.97. The stock has a 50 day moving average price of $77.01 and a 200-day moving average price of $80.63. Vornado Realty Trust has a one year low of $77.25 and a one year high of $111.72.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.40 annualized dividend and a dividend yield of 3.03%. Vornado Realty Trust’s dividend payout ratio is presently 51.72%.
Several hedge funds have recently modified their holdings of the company. Atria Investments LLC bought a new position in shares of Vornado Realty Trust during the first quarter worth $219,000. Fox Run Management L.L.C. purchased a new stake in shares of Vornado Realty Trust during the first quarter valued at approximately $505,000. Retirement Systems of Alabama increased its stake in shares of Vornado Realty Trust by 0.6% in the first quarter. Retirement Systems of Alabama now owns 306,809 shares of the real estate investment trust’s stock valued at $30,776,000 after buying an additional 1,693 shares during the last quarter. Motco increased its stake in shares of Vornado Realty Trust by 5.0% in the first quarter. Motco now owns 3,423 shares of the real estate investment trust’s stock valued at $343,000 after buying an additional 164 shares during the last quarter. Finally, Loeb Partners Corp increased its stake in shares of Vornado Realty Trust by 2.9% in the first quarter. Loeb Partners Corp now owns 63,600 shares of the real estate investment trust’s stock valued at $6,379,000 after buying an additional 1,820 shares during the last quarter. 87.10% of the stock is currently owned by institutional investors and hedge funds.
Vornado Realty Trust Company Profile
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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