Vornado Realty Trust (VNO) Expected to Post Quarterly Sales of $532.33 Million

Brokerages expect Vornado Realty Trust (NYSE:VNO) to post sales of $532.33 million for the current quarter, Zacks reports. Eight analysts have made estimates for Vornado Realty Trust’s earnings, with the highest sales estimate coming in at $542.54 million and the lowest estimate coming in at $520.36 million. Vornado Realty Trust reported sales of $620.85 million in the same quarter last year, which indicates a negative year-over-year growth rate of 14.3%. The business is expected to announce its next quarterly earnings results on Monday, May 7th.

According to Zacks, analysts expect that Vornado Realty Trust will report full year sales of $532.33 million for the current financial year, with estimates ranging from $1.92 billion to $2.24 billion. For the next year, analysts anticipate that the firm will post sales of $2.21 billion per share, with estimates ranging from $2.07 billion to $2.36 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Vornado Realty Trust.

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Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Vornado Realty Trust had a net margin of 9.10% and a return on equity of 5.44%. The firm had revenue of $536.23 million for the quarter, compared to analyst estimates of $532.81 million. During the same quarter last year, the business posted $3.43 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis.

A number of analysts have weighed in on VNO shares. SunTrust Banks upgraded shares of Vornado Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. TheStreet upgraded shares of Vornado Realty Trust from a “c+” rating to a “b-” rating in a research report on Monday, December 18th. JPMorgan Chase & Co. lowered shares of Vornado Realty Trust from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research report on Friday, December 15th. Zacks Investment Research upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, Sandler O’Neill set a $76.00 target price on shares of Vornado Realty Trust and gave the company a “buy” rating in a research report on Thursday, March 15th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $86.62.

Shares of Vornado Realty Trust stock opened at $65.15 on Friday. Vornado Realty Trust has a 52-week low of $64.80 and a 52-week high of $82.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $12,759.32, a P/E ratio of 76.65, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90.

Several large investors have recently modified their holdings of VNO. Comerica Bank lifted its holdings in shares of Vornado Realty Trust by 1.6% during the third quarter. Comerica Bank now owns 49,676 shares of the real estate investment trust’s stock worth $3,596,000 after purchasing an additional 763 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Vornado Realty Trust by 43.9% during the third quarter. Advisors Asset Management Inc. now owns 3,178 shares of the real estate investment trust’s stock worth $244,000 after purchasing an additional 969 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Vornado Realty Trust by 7.9% during the third quarter. Pacer Advisors Inc. now owns 9,661 shares of the real estate investment trust’s stock worth $743,000 after purchasing an additional 706 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Vornado Realty Trust by 10.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,381 shares of the real estate investment trust’s stock worth $5,257,000 after purchasing an additional 6,318 shares during the period. Finally, ING Groep NV lifted its holdings in shares of Vornado Realty Trust by 68.9% during the third quarter. ING Groep NV now owns 14,900 shares of the real estate investment trust’s stock worth $1,146,000 after purchasing an additional 6,076 shares during the period. Institutional investors own 88.82% of the company’s stock.

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About Vornado Realty Trust

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

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