Zacks: Brokerages Anticipate Vornado Realty Trust (NYSE:VNO) Will Announce Quarterly Sales of $457.66 Million

Analysts predict that Vornado Realty Trust (NYSE:VNO) will announce $457.66 million in sales for the current quarter, Zacks reports. Nine analysts have provided estimates for Vornado Realty Trust’s earnings. The highest sales estimate is $483.09 million and the lowest is $434.74 million. Vornado Realty Trust posted sales of $543.42 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 15.8%. The business is scheduled to announce its next quarterly earnings report on Monday, February 10th.

According to Zacks, analysts expect that Vornado Realty Trust will report full-year sales of $1.92 billion for the current fiscal year, with estimates ranging from $1.86 billion to $1.95 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.83 billion, with estimates ranging from $1.73 billion to $2.01 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Vornado Realty Trust.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.46). Vornado Realty Trust had a net margin of 151.59% and a return on equity of 4.90%. The business had revenue of $465.96 million during the quarter, compared to analysts’ expectations of $457.27 million. During the same quarter last year, the business posted $0.35 earnings per share. The company’s quarterly revenue was down 14.0% compared to the same quarter last year.

Several brokerages have recently issued reports on VNO. BMO Capital Markets raised their price objective on Vornado Realty Trust from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Goldman Sachs Group began coverage on Vornado Realty Trust in a research note on Friday, November 8th. They issued a “neutral” rating and a $69.00 price objective for the company. SunTrust Banks cut Vornado Realty Trust from a “buy” rating to a “hold” rating and set a $68.00 price objective for the company. in a research note on Wednesday, January 15th. Morgan Stanley cut Vornado Realty Trust from an “overweight” rating to an “equal” rating and reduced their price objective for the stock from $72.00 to $68.00 in a research note on Friday, October 11th. Finally, Barclays reduced their price objective on Vornado Realty Trust from $79.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $72.29.

In related news, EVP Barry Langer sold 4,255 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $66.61, for a total transaction of $283,425.55. Following the sale, the executive vice president now directly owns 16,221 shares of the company’s stock, valued at $1,080,480.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.59% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of VNO. Evoke Wealth LLC acquired a new stake in Vornado Realty Trust in the third quarter valued at approximately $32,000. CSat Investment Advisory L.P. grew its holdings in Vornado Realty Trust by 73.7% in the second quarter. CSat Investment Advisory L.P. now owns 620 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 263 shares during the period. Quantum Capital Management acquired a new stake in Vornado Realty Trust in the third quarter valued at approximately $52,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Vornado Realty Trust by 7.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,546 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 180 shares during the period. Finally, AE Wealth Management LLC acquired a new stake in Vornado Realty Trust in the fourth quarter valued at approximately $204,000. 76.24% of the stock is currently owned by institutional investors.

Shares of NYSE:VNO traded up $0.99 during trading on Friday, hitting $68.61. The stock had a trading volume of 769,100 shares, compared to its average volume of 987,287. Vornado Realty Trust has a 12-month low of $58.60 and a 12-month high of $70.54. The stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of 4.36, a price-to-earnings-growth ratio of 6.14 and a beta of 0.98. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.10. The stock has a 50-day simple moving average of $66.44 and a two-hundred day simple moving average of $64.08.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, January 27th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.85%. The ex-dividend date is Friday, January 24th. Vornado Realty Trust’s dividend payout ratio (DPR) is 70.21%.

Vornado Realty Trust Company Profile

Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.

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

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