Vornado Realty Trust (NYSE:VNO) Announces Quarterly Earnings Results, Misses Estimates By $0.89 EPS

Vornado Realty Trust (NYSE:VNO) announced its quarterly earnings data on Monday. The real estate investment trust reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.89), FiscalAI reports. The company had revenue of $467.66 million for the quarter, compared to analysts’ expectations of $477.39 million. Vornado Realty Trust had a net margin of 0.50% and a return on equity of 0.19%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.57 earnings per share.

Vornado Realty Trust Stock Down 0.0%

VNO stock opened at $35.87 on Friday. The company’s 50 day moving average price is $34.61 and its 200 day moving average price is $33.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 5.24 and a current ratio of 5.24. Vornado Realty Trust has a fifty-two week low of $24.57 and a fifty-two week high of $41.60. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.64 and a beta of 1.62.

Insider Transactions at Vornado Realty Trust

In other Vornado Realty Trust news, EVP Haim Chera sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $34.01, for a total transaction of $3,060,900.00. Following the completion of the transaction, the executive vice president owned 110,000 shares in the company, valued at $3,741,100. The trade was a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on VNO shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Vornado Realty Trust in a report on Monday. Mizuho raised their price target on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Piper Sandler reduced their target price on Vornado Realty Trust from $44.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. UBS Group lowered shares of Vornado Realty Trust to an “underweight” rating in a research note on Wednesday, July 22nd. Finally, Morgan Stanley lowered Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a research note on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Vornado Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $38.91.

About Vornado Realty Trust

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops commercial properties, with a primary focus on premier office and retail assets in New York City. The company’s portfolio includes office buildings, retail properties and mixed-use developments located in high-profile business and shopping districts.

Vornado is particularly active in Manhattan, where it has pursued large-scale development and redevelopment initiatives in the Penn District surrounding Pennsylvania Station.