Brokerages expect that Vornado Realty Trust (NYSE:VNO) will report earnings per share (EPS) of $0.83 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Vornado Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $1.02. Vornado Realty Trust reported earnings per share of $0.39 in the same quarter last year, which would suggest a positive year-over-year growth rate of 112.8%. The business is expected to report its next quarterly earnings results after the market closes on Monday, October 30th.
According to Zacks, analysts expect that Vornado Realty Trust will report full year earnings of $4.22 per share for the current fiscal year, with EPS estimates ranging from $3.94 to $4.44. For the next year, analysts anticipate that the business will post earnings of $4.00 per share, with EPS estimates ranging from $3.77 to $4.20. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Vornado Realty Trust.
Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.09. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. The business had revenue of $626.04 million during the quarter, compared to analysts’ expectations of $633.19 million. During the same quarter in the previous year, the company earned $1.21 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year.
Several research firms have recently issued reports on VNO. Evercore ISI reiterated an “outperform” rating and set a $87.00 price objective (up previously from $86.00) on shares of Vornado Realty Trust in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Tuesday. Sandler O’Neill reiterated a “buy” rating and set a $90.00 price objective on shares of Vornado Realty Trust in a research report on Tuesday, September 26th. Argus upgraded shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Thursday, August 24th. Finally, Morgan Stanley upgraded shares of Vornado Realty Trust from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $81.00 to $84.00 in a research report on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $95.58.
Hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. grew its holdings in shares of 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 purchasing an additional 419 shares in the last quarter. Sun Life Financial INC boosted its stake in Vornado Realty Trust by 13,866.7% during the second quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 1,248 shares during the period. Perigon Wealth Management LLC purchased a new position in Vornado Realty Trust during the first quarter worth $139,000. Exane Asset Management purchased a new position in Vornado Realty Trust during the second quarter worth $187,000. Finally, Global X Management Co. LLC boosted its stake in Vornado Realty Trust by 44.6% during the first quarter. Global X Management Co. LLC now owns 2,041 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 630 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.
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Vornado Realty Trust (NYSE VNO) traded down 1.57% during trading on Friday, reaching $77.05. 461,241 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $75.98 and its 200-day moving average is $77.06. The company has a market cap of $14.60 billion, a P/E ratio of 16.64 and a beta of 1.00. Vornado Realty Trust has a 12-month low of $69.81 and a 12-month high of $90.32.
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.
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