Vornado Realty Trust (NYSE:VNO) Issues Earnings Results

Vornado Realty Trust (NYSE:VNO) announced its earnings results on Monday. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.61), Zacks reports. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The company had revenue of $443.26 million during the quarter, compared to analysts’ expectations of $445.07 million. During the same quarter last year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year.

Vornado Realty Trust Trading Up 1.1 %

NYSE:VNO traded up $0.48 on Tuesday, hitting $42.40. 1,316,157 shares of the stock were exchanged, compared to its average volume of 2,022,868. The stock has a fifty day moving average of $38.73 and a 200-day moving average of $31.19. The stock has a market cap of $8.08 billion, a PE ratio of 465.78 and a beta of 1.64. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. Vornado Realty Trust has a fifty-two week low of $19.63 and a fifty-two week high of $44.05.

Analyst Upgrades and Downgrades

VNO has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research report on Thursday, September 12th. BMO Capital Markets raised Vornado Realty Trust from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $29.00 to $40.00 in a report on Thursday, August 8th. Bank of America increased their price target on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $44.00 target price (up from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. Finally, Scotiabank upped their target price on Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Vornado Realty Trust presently has an average rating of “Hold” and a consensus price target of $32.80.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.