Brokerages Anticipate Vornado Realty Trust (VNO) Will Post Quarterly Sales of $541.95 Million

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Wall Street analysts expect Vornado Realty Trust (NYSE:VNO) to post $541.95 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Vornado Realty Trust’s earnings, with the lowest sales estimate coming in at $510.48 million and the highest estimate coming in at $557.29 million. Vornado Realty Trust reported sales of $536.23 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The firm is expected to report its next earnings results on Monday, February 11th.

According to Zacks, analysts expect that Vornado Realty Trust will report full year sales of $2.17 billion for the current year, with estimates ranging from $2.02 billion to $2.34 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.24 billion, with estimates ranging from $2.08 billion to $2.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Vornado Realty Trust.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $542.05 million during the quarter, compared to analysts’ expectations of $544.62 million. Vornado Realty Trust had a net margin of 16.89% and a return on equity of 8.55%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share.

A number of research firms recently commented on VNO. Zacks Investment Research downgraded shares of Vornado Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. ValuEngine downgraded shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Sandler O’Neill downgraded shares of Vornado Realty Trust from a “buy” rating to a “hold” rating in a research report on Monday, December 3rd. Scotiabank began coverage on shares of Vornado Realty Trust in a research report on Tuesday, October 16th. They issued an “underperform” rating on the stock. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 target price on shares of Vornado Realty Trust in a research report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Vornado Realty Trust presently has an average rating of “Hold” and a consensus target price of $79.80.

In other Vornado Realty Trust news, EVP Joseph Macnow sold 23,000 shares of the firm’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $70.80, for a total transaction of $1,628,400.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 10.04% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in Vornado Realty Trust during the 2nd quarter worth $122,000. Federated Investors Inc. PA grew its position in Vornado Realty Trust by 5,125.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,090 shares of the real estate investment trust’s stock worth $154,000 after purchasing an additional 2,050 shares during the last quarter. KAMES CAPITAL plc purchased a new position in Vornado Realty Trust during the 3rd quarter worth $186,000. Linscomb & Williams Inc. purchased a new position in Vornado Realty Trust during the 2nd quarter worth $211,000. Finally, Quantum Capital Management purchased a new position in Vornado Realty Trust during the 2nd quarter worth $213,000. 79.19% of the stock is currently owned by institutional investors.

Shares of NYSE VNO traded down $1.31 during mid-day trading on Tuesday, reaching $70.66. The company had a trading volume of 819,319 shares, compared to its average volume of 1,106,363. The company has a debt-to-equity ratio of 2.36, a current ratio of 4.64 and a quick ratio of 4.64. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 4.63 and a beta of 0.92. Vornado Realty Trust has a 52-week low of $64.13 and a 52-week high of $79.56.

The business also recently announced a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Monday, November 5th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, November 2nd. Vornado Realty Trust’s dividend payout ratio (DPR) is 67.56%.

Vornado Realty Trust Company Profile

Vornado's portfolio is concentrated in the nation's key market ? New York City ? along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2017.

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

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