Vornado Realty Trust (NYSE:VNO) Issues Earnings Results

Vornado Realty Trust (NYSE:VNO) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02), Zacks reports. The company had revenue of $453.71 million during the quarter, compared to the consensus estimate of $440.23 million. Vornado Realty Trust had a return on equity of 19.48% and a net margin of 49.91%.The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company posted $0.61 earnings per share.

Vornado Realty Trust Price Performance

VNO stock traded down $0.27 during mid-day trading on Monday, reaching $31.00. The company’s stock had a trading volume of 2,231,501 shares, compared to its average volume of 1,459,600. Vornado Realty Trust has a fifty-two week low of $29.68 and a fifty-two week high of $45.37. The company has a current ratio of 5.58, a quick ratio of 5.58 and a debt-to-equity ratio of 1.42. The stock has a market cap of $5.95 billion, a PE ratio of 7.38, a P/E/G ratio of 5.42 and a beta of 1.52. The company’s 50 day moving average is $33.37 and its two-hundred day moving average is $36.61.

Vornado Realty Trust Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Monday, December 29th. Investors of record on Thursday, December 18th were paid a dividend of $0.74 per share. This represents a yield of 220.0%. The ex-dividend date of this dividend was Thursday, December 18th. Vornado Realty Trust’s dividend payout ratio is currently 17.62%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VNO. LADENBURG THALM/SH SH initiated coverage on shares of Vornado Realty Trust in a research report on Monday, October 13th. They set a “buy” rating and a $48.00 price target for the company. Piper Sandler reduced their price objective on shares of Vornado Realty Trust from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Scotiabank lowered their price target on Vornado Realty Trust from $38.00 to $36.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Truist Financial reduced their target price on Vornado Realty Trust from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. upgraded Vornado Realty Trust from an “underweight” rating to a “neutral” rating and set a $41.00 price target on the stock in a report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Vornado Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $38.31.

Hedge Funds Weigh In On Vornado Realty Trust

Large investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new position in Vornado Realty Trust during the 3rd quarter worth approximately $1,718,000. Danske Bank A S acquired a new stake in shares of Vornado Realty Trust in the third quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new position in shares of Vornado Realty Trust during the third quarter worth approximately $33,000. Adelante Capital Management LLC increased its holdings in shares of Vornado Realty Trust by 2.5% in the 3rd quarter. Adelante Capital Management LLC now owns 370,941 shares of the real estate investment trust’s stock valued at $15,034,000 after acquiring an additional 8,993 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in Vornado Realty Trust by 3.2% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 379,840 shares of the real estate investment trust’s stock valued at $15,347,000 after purchasing an additional 11,926 shares during the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado Realty Trust is a self?administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long?term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street?level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.