SunTrust Banks Comments on Vornado Realty Trust’s Q3 2018 Earnings (VNO)

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Vornado Realty Trust (NYSE:VNO) – Equities research analysts at SunTrust Banks increased their Q3 2018 earnings per share estimates for shares of Vornado Realty Trust in a report released on Thursday, August 16th. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will earn $1.01 per share for the quarter, up from their prior estimate of $1.00. SunTrust Banks has a “Buy” rating and a $85.00 price target on the stock. SunTrust Banks also issued estimates for Vornado Realty Trust’s Q4 2018 earnings at $1.01 EPS, FY2018 earnings at $3.92 EPS, Q1 2019 earnings at $0.96 EPS, Q3 2019 earnings at $1.02 EPS, Q4 2019 earnings at $1.04 EPS, FY2019 earnings at $4.02 EPS, Q1 2020 earnings at $1.00 EPS, Q2 2020 earnings at $1.05 EPS, FY2020 earnings at $4.35 EPS, FY2021 earnings at $4.98 EPS and FY2022 earnings at $5.22 EPS.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.03). Vornado Realty Trust had a net margin of 6.91% and a return on equity of 5.16%. The business had revenue of $541.80 million for the quarter, compared to analysts’ expectations of $539.78 million. During the same quarter last year, the business posted $1.25 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year.

Several other research firms also recently weighed in on VNO. BMO Capital Markets restated a “buy” rating and set a $85.00 target price on shares of Vornado Realty Trust in a report on Monday, July 30th. ValuEngine downgraded shares of Vornado Realty Trust from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 22nd. Deutsche Bank dropped their target price on shares of Vornado Realty Trust from $82.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, June 26th. Morgan Stanley dropped their target price on shares of Vornado Realty Trust from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, June 14th. Finally, Evercore ISI upgraded shares of Vornado Realty Trust from an “in-line” rating to an “outperform” rating in a report on Monday, June 11th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Vornado Realty Trust presently has an average rating of “Hold” and an average target price of $80.10.

NYSE:VNO opened at $75.85 on Monday. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 2.41. Vornado Realty Trust has a twelve month low of $64.13 and a twelve month high of $80.30. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 9.41 and a beta of 0.88.

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of Vornado Realty Trust by 15.7% during the 1st quarter. JPMorgan Chase & Co. now owns 10,098,699 shares of the real estate investment trust’s stock worth $679,643,000 after purchasing an additional 1,367,593 shares during the last quarter. Long Pond Capital LP boosted its stake in shares of Vornado Realty Trust by 253.0% during the 1st quarter. Long Pond Capital LP now owns 4,657,274 shares of the real estate investment trust’s stock worth $313,435,000 after purchasing an additional 3,337,934 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Vornado Realty Trust by 10.0% during the 1st quarter. Franklin Resources Inc. now owns 4,399,878 shares of the real estate investment trust’s stock worth $296,111,000 after purchasing an additional 398,998 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Vornado Realty Trust by 1.8% during the 1st quarter. Northern Trust Corp now owns 2,922,533 shares of the real estate investment trust’s stock worth $196,687,000 after purchasing an additional 51,316 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Vornado Realty Trust by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,633,474 shares of the real estate investment trust’s stock worth $194,665,000 after purchasing an additional 37,710 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

The company also recently declared a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, August 6th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, August 3rd. This represents a $2.52 annualized dividend and a dividend yield of 3.32%. Vornado Realty Trust’s dividend payout ratio is currently 67.56%.

About Vornado Realty Trust

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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