Vornado Realty Trust (NYSE:VNO) Stock Price Up 4.7% After Earnings Beat

Vornado Realty Trust (NYSE:VNO) shares rose 4.7% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $44.31 and last traded at $44.38. Approximately 549,394 shares were traded during trading, a decline of 51% from the average daily volume of 1,117,767 shares. The stock had previously closed at $42.37.

The real estate investment trust reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.66. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%.

Vornado Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date was Monday, December 16th. This is a positive change from Vornado Realty Trust’s previous quarterly dividend of $0.30. Vornado Realty Trust’s dividend payout ratio is currently -255.17%.

Analysts Set New Price Targets

A number of research analysts have weighed in on VNO shares. Truist Financial increased their price target on Vornado Realty Trust from $31.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. StockNews.com raised Vornado Realty Trust to a “sell” rating in a research note on Tuesday, November 12th. Mizuho raised Vornado Realty Trust from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $38.00 to $48.00 in a research note on Tuesday, January 7th. Evercore ISI increased their target price on Vornado Realty Trust from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Compass Point increased their target price on Vornado Realty Trust from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.98.

Institutional Trading of Vornado Realty Trust

Several large investors have recently added to or reduced their stakes in VNO. ORG Wealth Partners LLC acquired a new stake in Vornado Realty Trust in the 4th quarter valued at $32,000. UMB Bank n.a. increased its holdings in Vornado Realty Trust by 53.2% in the 4th quarter. UMB Bank n.a. now owns 772 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Vornado Realty Trust by 1,014.0% during the fourth quarter. Versant Capital Management Inc now owns 958 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 872 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Vornado Realty Trust by 331.0% during the third quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 844 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Vornado Realty Trust by 122.2% during the third quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 661 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Stock Down 1.3 %

The firm has a 50 day moving average price of $42.13 and a two-hundred day moving average price of $39.46. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of -145.34 and a beta of 1.62.

Vornado Realty Trust Company Profile

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