Vornado Realty Trust (NYSE:VNO) Posts Earnings Results, Misses Estimates By $0.37 EPS

Vornado Realty Trust (NYSE:VNO) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37), Zacks reports. Vornado Realty Trust had a return on equity of 3.02% and a net margin of 5.07%. The company had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis.

Vornado Realty Trust Trading Down 2.3 %

Shares of VNO stock traded down $0.72 on Wednesday, hitting $30.00. The stock had a trading volume of 2,959,721 shares, compared to its average volume of 2,019,418. The firm has a market capitalization of $5.71 billion, a P/E ratio of 205.53 and a beta of 1.64. The company’s 50 day moving average price is $26.71 and its 200-day moving average price is $26.41. The company has a debt-to-equity ratio of 1.81, a current ratio of 4.97 and a quick ratio of 4.97. Vornado Realty Trust has a 1 year low of $18.36 and a 1 year high of $32.21.

Insiders Place Their Bets

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total value of $56,380.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at $85,528.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.14% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on VNO. BMO Capital Markets reduced their price target on shares of Vornado Realty Trust from $31.00 to $29.00 and set a “market perform” rating for the company in a research report on Wednesday, June 12th. Compass Point raised their target price on Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday. Scotiabank dropped their price target on Vornado Realty Trust from $24.00 to $23.00 and set a “sector perform” rating for the company in a research report on Thursday, May 16th. Piper Sandler decreased their price objective on Vornado Realty Trust from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, May 13th. Finally, Barclays dropped their target price on shares of Vornado Realty Trust from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Friday, May 24th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Vornado Realty Trust has an average rating of “Hold” and a consensus target price of $25.18.

About Vornado Realty Trust

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.