Vornado Realty Trust (NYSE:VNO) Releases Earnings Results, Beats Estimates By $0.01 EPS

Vornado Realty Trust (NYSE:VNO) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01, Zacks reports. The company had revenue of $467.66 million during the quarter, compared to analysts’ expectations of $477.39 million. Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%. Vornado Realty Trust’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS.

Vornado Realty Trust Stock Performance

Shares of VNO stock traded up $0.49 on Monday, reaching $35.04. The stock had a trading volume of 1,246,161 shares, compared to its average volume of 1,748,425. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.56. The firm’s 50-day moving average is $34.95 and its two-hundred day moving average is $33.39. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 1,752.98, a P/E/G ratio of 1.62 and a beta of 1.62. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $41.60.

Analyst Ratings Changes

Several research firms recently issued reports on VNO. Weiss Ratings lowered Vornado Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. Morgan Stanley downgraded Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a research note on Wednesday, July 22nd. Citigroup boosted their price target on Vornado Realty Trust from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. upped their price objective on Vornado Realty Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 15th. Finally, Mizuho increased their price objective on Vornado Realty Trust from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.91.

Insider Buying and Selling

In other Vornado Realty Trust news, EVP Haim Chera sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total transaction of $3,060,900.00. Following the transaction, the executive vice president owned 110,000 shares of the company’s stock, valued at $3,741,100. The trade was a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.00% of the company’s stock.

About Vornado Realty Trust

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops commercial properties, with a primary focus on premier office and retail assets in New York City. The company’s portfolio includes office buildings, retail properties and mixed-use developments located in high-profile business and shopping districts.

Vornado is particularly active in Manhattan, where it has pursued large-scale development and redevelopment initiatives in the Penn District surrounding Pennsylvania Station.