Vornado Realty Trust (NYSE:VNO) Issues Earnings Results, Misses Expectations By $0.61 EPS

Vornado Realty Trust (NYSE:VNO) announced its quarterly 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 during the quarter, compared to analyst estimates of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.69%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share.

Vornado Realty Trust Stock Up 1.9 %

NYSE VNO traded up $0.82 on Wednesday, hitting $43.57. 3,350,761 shares of the stock traded hands, compared to its average volume of 2,035,321. The stock has a 50-day moving average of $38.90 and a 200 day moving average of $31.31. Vornado Realty Trust has a twelve month low of $19.63 and a twelve month high of $44.07. The company has a market capitalization of $8.30 billion, a P/E ratio of -147.14 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.

Analysts Set New Price Targets

VNO has been the subject of several analyst reports. StockNews.com raised Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. BMO Capital Markets raised Vornado Realty Trust from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $29.00 to $40.00 in a research report on Thursday, August 8th. The Goldman Sachs Group upped their target price on Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research report on Thursday, September 12th. Bank of America upped their target price on Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $44.00 target price (up previously from $30.00) on shares of Vornado Realty Trust in a research report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.07.

Vornado Realty Trust Company Profile

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