Brokerages Anticipate Vornado Realty Trust (VNO) Will Announce Quarterly Sales of $519.47 Million

Wall Street analysts expect Vornado Realty Trust (NYSE:VNO) to report $519.47 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Vornado Realty Trust’s earnings. The lowest sales estimate is $483.00 million and the highest is $547.48 million. Vornado Realty Trust posted sales of $638.26 million in the same quarter last year, which would indicate a negative year over year growth rate of 18.6%. The firm is expected to report its next earnings results on Monday, February 12th.

According to Zacks, analysts expect that Vornado Realty Trust will report full year sales of $519.47 million for the current year, with estimates ranging from $2.13 billion to $2.34 billion. For the next year, analysts forecast that the firm will report sales of $2.10 billion per share, with estimates ranging from $1.92 billion to $2.24 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Vornado Realty Trust.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.90. The business had revenue of $528.76 million for the quarter, compared to the consensus estimate of $545.53 million. Vornado Realty Trust had a net margin of 35.23% and a return on equity of 4.73%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share.

Several research firms have commented on VNO. Zacks Investment Research downgraded shares of Vornado Realty Trust from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $78.00 price target (down from $81.00) on shares of Vornado Realty Trust in a report on Friday, September 1st. Sandler O’Neill reissued a “buy” rating and issued a $90.00 price target on shares of Vornado Realty Trust in a report on Tuesday, September 26th. BidaskClub raised shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Stifel Nicolaus downgraded shares of Vornado Realty Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from $86.00 to $77.00 in a report on Wednesday, August 30th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Vornado Realty Trust currently has a consensus rating of “Buy” and a consensus price target of $91.73.

A number of institutional investors and hedge funds have recently made changes to their positions in VNO. Franklin Resources Inc. raised its stake in Vornado Realty Trust by 767.3% in the second quarter. Franklin Resources Inc. now owns 2,126,678 shares of the real estate investment trust’s stock valued at $199,694,000 after purchasing an additional 1,881,473 shares in the last quarter. JPMorgan Chase & Co. grew its position in Vornado Realty Trust by 23.0% during the third quarter. JPMorgan Chase & Co. now owns 7,221,172 shares of the real estate investment trust’s stock valued at $558,195,000 after acquiring an additional 1,352,088 shares during the last quarter. Long Pond Capital LP bought a new position in Vornado Realty Trust during the third quarter valued at approximately $64,360,000. American Century Companies Inc. bought a new position in Vornado Realty Trust during the third quarter valued at approximately $47,992,000. Finally, Bank of New York Mellon Corp grew its position in Vornado Realty Trust by 12.9% during the second quarter. Bank of New York Mellon Corp now owns 4,577,899 shares of the real estate investment trust’s stock valued at $429,864,000 after acquiring an additional 524,562 shares during the last quarter. 86.22% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust (VNO) traded up $0.70 during midday trading on Wednesday, reaching $77.71. 908,800 shares of the company’s stock traded hands, compared to its average volume of 1,136,393. The stock has a market capitalization of $14,622.50, a P/E ratio of 18.88, a PEG ratio of 4.63 and a beta of 0.99. Vornado Realty Trust has a 1-year low of $71.89 and a 1-year high of $89.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.26 and a current ratio of 0.26.

The business also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, November 3rd. Vornado Realty Trust’s dividend payout ratio is currently 57.97%.

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About Vornado Realty Trust

Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.

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Earnings History and Estimates for Vornado Realty Trust (NYSE:VNO)

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