Vornado Realty Trust (NYSE:VNO) Issues Earnings Results

Vornado Realty Trust (NYSE:VNOGet Rating) issued its earnings results on Monday. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08, MarketWatch Earnings reports. Vornado Realty Trust had a return on equity of 2.52% and a net margin of 11.07%. During the same quarter in the previous year, the company earned $0.65 EPS.

Shares of Vornado Realty Trust stock opened at $38.71 on Wednesday. The business’s 50 day simple moving average is $43.37 and its 200 day simple moving average is $43.16. Vornado Realty Trust has a 52-week low of $37.00 and a 52-week high of $50.91. The firm has a market cap of $7.42 billion, a PE ratio of 73.04 and a beta of 1.25. The company has a debt-to-equity ratio of 1.62, a quick ratio of 4.35 and a current ratio of 4.35.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Monday, May 9th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend is Friday, May 6th. Vornado Realty Trust’s dividend payout ratio is presently 400.01%.

In related news, Director Michael D. Fascitelli sold 119,100 shares of Vornado Realty Trust stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $41.97, for a total value of $4,998,627.00. Following the sale, the director now owns 1,100,451 shares of the company’s stock, valued at approximately $46,185,928.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.87% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. JustInvest LLC acquired a new position in shares of Vornado Realty Trust during the 4th quarter worth approximately $262,000. BlackRock Inc. grew its stake in shares of Vornado Realty Trust by 5.4% in the fourth quarter. BlackRock Inc. now owns 16,649,268 shares of the real estate investment trust’s stock valued at $696,939,000 after buying an additional 859,659 shares in the last quarter. Vident Investment Advisory LLC increased its holdings in Vornado Realty Trust by 72.6% during the fourth quarter. Vident Investment Advisory LLC now owns 41,116 shares of the real estate investment trust’s stock worth $1,721,000 after buying an additional 17,298 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Vornado Realty Trust by 33.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 610,880 shares of the real estate investment trust’s stock worth $25,572,000 after acquiring an additional 152,749 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Vornado Realty Trust by 214.6% in the fourth quarter. Allianz Asset Management GmbH now owns 410,627 shares of the real estate investment trust’s stock valued at $17,188,000 after acquiring an additional 280,116 shares during the last quarter. 82.19% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the company. Mizuho assumed coverage on Vornado Realty Trust in a report on Friday, April 22nd. They set an “underperform” rating and a $38.00 target price on the stock. Zacks Investment Research cut Vornado Realty Trust from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a report on Wednesday, March 9th. Piper Sandler cut Vornado Realty Trust from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $44.00 to $35.00 in a report on Wednesday. Finally, StockNews.com initiated coverage on Vornado Realty Trust in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.50.

About Vornado Realty Trust (Get Rating)

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 2019.

Featured Articles

Earnings History for Vornado Realty Trust (NYSE:VNO)

Receive News & Ratings for Vornado Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vornado Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.