Vornado Realty Trust (NYSE:VNO) Announces Earnings Results

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

Vornado Realty Trust Stock Performance

NYSE:VNO traded up $0.34 during mid-day trading on Tuesday, hitting $42.26. The company’s stock had a trading volume of 1,389,453 shares, compared to its average volume of 2,023,210. The business’s fifty day moving average is $38.73 and its two-hundred day moving average is $31.19. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 465.78 and a beta of 1.64. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21. Vornado Realty Trust has a 1 year low of $19.63 and a 1 year high of $44.05.

Analysts Set New Price Targets

Several equities analysts have issued reports on VNO shares. Truist Financial lifted their target price on Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Piper Sandler reiterated a “neutral” rating and set a $44.00 price objective (up previously from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. Evercore ISI increased their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. BMO Capital Markets raised shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $29.00 to $40.00 in a report on Thursday, August 8th. Finally, Compass Point upped their target price on Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.80.

About Vornado Realty Trust

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