Vornado Realty Trust (NYSE:VNO) issued its earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.09, Bloomberg Earnings reports. The business had revenue of $626.04 million for the quarter, compared to the consensus estimate of $633.19 million. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 earnings per share.
Vornado Realty Trust (NYSE:VNO) traded down 1.85% during mid-day trading on Friday, reaching $73.91. 1,098,317 shares of the company were exchanged. Vornado Realty Trust has a 12 month low of $69.81 and a 12 month high of $90.32. The stock has a market capitalization of $14.00 billion, a P/E ratio of 15.96 and a beta of 0.97. The company’s 50 day moving average price is $77.51 and its 200-day moving average price is $79.91.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 3rd. Vornado Realty Trust’s dividend payout ratio is currently 51.72%.
Several analysts have recently weighed in on VNO shares. Bank of America Corporation reaffirmed a “buy” rating and issued a $113.00 target price (up previously from $112.00) on shares of Vornado Realty Trust in a report on Thursday, June 22nd. Evercore ISI reaffirmed an “in-line” rating and issued a $107.00 target price (down previously from $111.00) on shares of Vornado Realty Trust in a report on Thursday, May 4th. BidaskClub raised shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Barclays PLC lowered their target price on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 18th. Finally, TheStreet downgraded shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Vornado Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $100.75.
Several institutional investors have recently bought and sold shares of VNO. Bessemer Group Inc. raised its position in Vornado Realty Trust by 62.1% in the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 419 shares during the period. Sun Life Financial INC raised its position in Vornado Realty Trust by 13,866.7% in the second quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 1,248 shares during the period. Harvest Fund Management Co. Ltd raised its position in Vornado Realty Trust by 62.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,300 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 500 shares during the period. Perigon Wealth Management LLC acquired a new position in Vornado Realty Trust during the first quarter valued at $139,000. Finally, Advisors Asset Management Inc. raised its position in Vornado Realty Trust by 98.9% in the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 741 shares during the period. Institutional investors own 87.19% of the company’s stock.
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.
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.