Vornado Realty Trust (NYSE:VNO) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Vornado Realty Trust (NYSE:VNO) posted its earnings results on Monday. The real estate investment trust reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02, Zacks reports. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 19.64%.

Vornado Realty Trust Trading Down 0.5%

Vornado Realty Trust stock traded down $0.18 during trading on Monday, reaching $37.76. The company had a trading volume of 2,241,382 shares, compared to its average volume of 1,477,972. Vornado Realty Trust has a 12-month low of $29.68 and a 12-month high of $46.63. The company has a debt-to-equity ratio of 1.40, a quick ratio of 6.82 and a current ratio of 6.82. The stock’s 50 day moving average price is $39.88 and its two-hundred day moving average price is $38.73. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 4.57 and a beta of 1.59.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on VNO shares. Truist Financial raised their price objective on shares of Vornado Realty Trust from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 12th. LADENBURG THALM/SH SH initiated coverage on Vornado Realty Trust in a research report on Monday, October 13th. They set a “buy” rating and a $48.00 price target for the company. Citigroup raised Vornado Realty Trust from a “sell” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $42.00 in a research note on Friday, September 12th. Bank of America dropped their price objective on Vornado Realty Trust from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, August 25th. Finally, Mizuho reduced their target price on shares of Vornado Realty Trust from $48.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, July 14th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.42.

Insider Activity

In other news, EVP Haim Chera sold 30,000 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $39.64, for a total transaction of $1,189,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors have recently added to or reduced their stakes in VNO. Quantinno Capital Management LP increased its position in Vornado Realty Trust by 13.9% during the 2nd quarter. Quantinno Capital Management LP now owns 114,596 shares of the real estate investment trust’s stock worth $4,382,000 after purchasing an additional 14,013 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Vornado Realty Trust by 2.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 82,376 shares of the real estate investment trust’s stock valued at $3,150,000 after acquiring an additional 2,188 shares during the period. Squarepoint Ops LLC raised its stake in shares of Vornado Realty Trust by 0.9% in the 2nd quarter. Squarepoint Ops LLC now owns 73,497 shares of the real estate investment trust’s stock valued at $2,811,000 after acquiring an additional 648 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Vornado Realty Trust by 77.8% during the 2nd quarter. Corient Private Wealth LLC now owns 72,140 shares of the real estate investment trust’s stock valued at $2,759,000 after acquiring an additional 31,558 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Vornado Realty Trust by 242.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 62,555 shares of the real estate investment trust’s stock worth $2,392,000 after purchasing an additional 44,298 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

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