Vornado Realty Trust to Post Q3 2024 Earnings of $0.50 Per Share, Zacks Research Forecasts (NYSE:VNO)

Vornado Realty Trust (NYSE:VNO) – Zacks Research cut their Q3 2024 earnings per share (EPS) estimates for Vornado Realty Trust in a research note issued to investors on Wednesday, September 11th. Zacks Research analyst R. Department now expects that the real estate investment trust will earn $0.50 per share for the quarter, down from their prior estimate of $0.52. The consensus estimate for Vornado Realty Trust’s current full-year earnings is $2.15 per share. Zacks Research also issued estimates for Vornado Realty Trust’s FY2024 earnings at $2.14 EPS and Q3 2025 earnings at $0.51 EPS.

Vornado Realty Trust (NYSE:VNO) last released 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 business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS.

Several other research analysts have also commented on VNO. Piper Sandler raised Vornado Realty Trust from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $22.00 to $30.00 in a research report on Thursday, August 8th. Scotiabank boosted their price target on Vornado Realty Trust from $23.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Truist Financial boosted their price target on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. 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 report on Wednesday, August 7th. Finally, StockNews.com raised Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.43.

Vornado Realty Trust Price Performance

Shares of VNO stock opened at $36.37 on Friday. Vornado Realty Trust has a 52-week low of $18.36 and a 52-week high of $36.62. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. The firm has a market capitalization of $6.93 billion, a P/E ratio of 242.48 and a beta of 1.65. The stock has a 50 day moving average price of $31.28 and a 200 day moving average price of $27.72.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its stake 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 valued at $307,000 after buying an additional 386 shares during the period. First National Bank Sioux Falls grew its stake in shares of Vornado Realty Trust by 3.3% during the 1st quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 496 shares during the period. Retirement Systems of Alabama grew its stake in shares of Vornado Realty Trust by 0.3% during 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 buying an additional 527 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Vornado Realty Trust by 0.5% during the 1st 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 buying an additional 531 shares during the period. Finally, Park Avenue Securities LLC grew its stake in shares of Vornado Realty Trust by 5.8% during the 1st quarter. Park Avenue Securities LLC now owns 10,036 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 553 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vornado Realty Trust

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of Vornado Realty Trust stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total transaction of $56,380.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at approximately $85,528.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.14% of the stock is owned by corporate insiders.

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.