$516.12 Million in Sales Expected for Vornado Realty Trust (NYSE:VNO) This Quarter

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Brokerages expect that Vornado Realty Trust (NYSE:VNO) will post sales of $516.12 million for the current quarter, Zacks reports. Eight analysts have provided estimates for Vornado Realty Trust’s earnings, with estimates ranging from $458.82 million to $574.45 million. Vornado Realty Trust posted sales of $542.05 million during the same quarter last year, which suggests a negative year over year growth rate of 4.8%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Vornado Realty Trust will report full year sales of $2.11 billion for the current financial year, with estimates ranging from $1.92 billion to $2.29 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.09 billion, with estimates ranging from $1.83 billion to $2.37 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Vornado Realty Trust.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.72). Vornado Realty Trust had a net margin of 139.71% and a return on equity of 8.53%. The company had revenue of $463.10 million during the quarter, compared to analyst estimates of $517.72 million. During the same quarter last year, the business earned $0.36 EPS. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis.

Several analysts recently commented on VNO shares. ValuEngine upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. BMO Capital Markets reiterated a “buy” rating and issued a $79.00 price objective on shares of Vornado Realty Trust in a research note on Wednesday, July 31st. Morgan Stanley set a $72.00 price objective on shares of Vornado Realty Trust and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Barclays reiterated a “hold” rating and issued a $76.00 price objective on shares of Vornado Realty Trust in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $76.00.

Shares of NYSE VNO traded up $0.93 during midday trading on Tuesday, hitting $61.25. The company had a trading volume of 3,481,300 shares, compared to its average volume of 1,301,342. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 1.14. Vornado Realty Trust has a twelve month low of $59.48 and a twelve month high of $77.59. The business has a 50-day simple moving average of $63.79 and a two-hundred day simple moving average of $66.71. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 4.52 and a beta of 0.97.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Friday, August 2nd. Vornado Realty Trust’s payout ratio is currently 70.21%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 6 Meridian raised its position in Vornado Realty Trust by 2.4% during the second quarter. 6 Meridian now owns 7,460 shares of the real estate investment trust’s stock worth $478,000 after acquiring an additional 175 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Vornado Realty Trust by 7.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,546 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 180 shares during the last quarter. World Asset Management Inc raised its position in shares of Vornado Realty Trust by 1.6% in the second quarter. World Asset Management Inc now owns 13,419 shares of the real estate investment trust’s stock valued at $860,000 after buying an additional 207 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Vornado Realty Trust by 0.3% in the second quarter. Retirement Systems of Alabama now owns 80,957 shares of the real estate investment trust’s stock valued at $5,189,000 after buying an additional 220 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of Vornado Realty Trust by 1.0% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 26,347 shares of the real estate investment trust’s stock valued at $1,777,000 after buying an additional 253 shares during the last quarter. Institutional investors own 77.33% of the company’s stock.

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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