Equities Analysts Offer Predictions for Vornado Realty Trust’s Q3 2024 Earnings (NYSE:VNO)

Vornado Realty Trust (NYSE:VNO) – Equities researchers at Zacks Research lifted their Q3 2024 earnings per share estimates for shares of Vornado Realty Trust in a note issued to investors on Wednesday, August 14th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings per share of $0.52 for the quarter, up from their previous forecast of $0.51. The consensus estimate for Vornado Realty Trust’s current full-year earnings is $2.11 per share. Zacks Research also issued estimates for Vornado Realty Trust’s Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $2.16 EPS, Q3 2025 earnings at $0.53 EPS, Q4 2025 earnings at $0.53 EPS, FY2025 earnings at $2.05 EPS, Q1 2026 earnings at $0.53 EPS, Q2 2026 earnings at $0.54 EPS and FY2026 earnings at $2.19 EPS.

VNO has been the topic of several other reports. Piper Sandler raised shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $22.00 to $30.00 in a research report on Thursday, August 8th. Barclays upped their price objective on Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th. Compass Point boosted their price target on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a report on Saturday, July 20th. Finally, BMO Capital Markets upgraded shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.90.

Vornado Realty Trust Price Performance

VNO opened at $32.95 on Monday. Vornado Realty Trust has a 12-month low of $18.36 and a 12-month high of $32.97. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 219.67 and a beta of 1.64. The stock has a fifty day simple moving average of $28.02 and a two-hundred day simple moving average of $26.61. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.37). The firm had revenue of $450.27 million for the quarter, compared to analysts’ expectations of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS.

Insider Buying and Selling

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $28.19, for a total value of $56,380.00. Following the completion of the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VNO. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Vornado Realty Trust by 3.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 386 shares during the last quarter. First National Bank Sioux Falls lifted its holdings in shares of Vornado Realty Trust by 3.3% in the 1st quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 496 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Vornado Realty Trust by 5.3% during the 4th quarter. Metis Global Partners LLC now owns 9,886 shares of the real estate investment trust’s stock worth $279,000 after purchasing an additional 499 shares during the period. Retirement Systems of Alabama increased its holdings in Vornado Realty Trust by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 200,756 shares of the real estate investment trust’s stock valued at $5,776,000 after purchasing an additional 527 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Vornado Realty Trust by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 101,565 shares of the real estate investment trust’s stock valued at $2,921,000 after purchasing an additional 531 shares during the period. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.