Vornado Realty Trust (NYSE:VNO) Posts Quarterly Earnings Results

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.

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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.

Earnings History for Vornado Realty Trust (NYSE:VNO)

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