Vornado Realty Trust (NYSE:VNO – Get Free Report) issued its quarterly earnings data on Monday. The real estate investment trust reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.89), FiscalAI reports. Vornado Realty Trust had a return on equity of 0.19% and a net margin of 0.50%. The company had revenue of $467.66 million for the quarter, compared to analysts’ expectations of $477.39 million. During the same quarter last year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year.
Vornado Realty Trust Stock Performance
VNO stock traded up $1.24 during trading on Wednesday, reaching $35.11. The company had a trading volume of 468,155 shares, compared to its average volume of 1,750,932. The firm has a 50-day simple moving average of $34.80 and a 200-day simple moving average of $33.40. The company has a market cap of $6.56 billion, a price-to-earnings ratio of -120.74, a price-to-earnings-growth ratio of 1.64 and a beta of 1.62. 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 twelve month low of $24.57 and a twelve month high of $41.60.
Insider Transactions at Vornado Realty Trust
In other Vornado Realty Trust news, EVP Haim Chera sold 90,000 shares of the firm’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $34.01, for a total value of $3,060,900.00. Following the completion of the transaction, the executive vice president owned 110,000 shares of the company’s stock, valued at approximately $3,741,100. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.00% of the company’s stock.
Analyst Ratings Changes
VNO has been the subject of several analyst reports. Scotiabank decreased their price target on shares of Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, September 17th. Citigroup boosted their price objective on shares of Vornado Realty Trust from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Mizuho increased their target price on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Piper Sandler lowered their target price on shares of 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Vornado Realty Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, September 15th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Vornado Realty Trust has a consensus rating of “Hold” and a consensus price target of $38.91.
View Our Latest Analysis on VNO
Vornado Realty Trust Company Profile
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.
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