Vornado Realty Trust (NYSE:VNO) Releases 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 for the quarter, missing the consensus estimate of $0.51 by ($0.61), Zacks reports. The business had revenue of $443.26 million during the quarter, compared to analysts’ expectations of $445.07 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. Vornado Realty Trust’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS.

Vornado Realty Trust Price Performance

VNO stock traded up $0.34 during mid-day trading on Tuesday, reaching $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 company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The company’s 50 day moving average is $38.73 and its two-hundred day moving average is $31.19. Vornado Realty Trust has a fifty-two week low of $19.63 and a fifty-two week high of $44.05. The stock has a market cap of $8.05 billion, a PE ratio of 465.78 and a beta of 1.64.

Analyst Ratings Changes

A number of research firms have recently commented on VNO. BMO Capital Markets upgraded Vornado Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $29.00 to $40.00 in a research report on Thursday, August 8th. Bank of America upped their price objective on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Barclays increased their price objective on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Evercore ISI boosted their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.80.

Vornado Realty Trust Company Profile

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