Truist Securiti Brokers Increase Earnings Estimates for Vornado Realty Trust (NYSE:VNO)

Vornado Realty Trust (NYSE:VNO) – Research analysts at Truist Securiti increased their FY2021 earnings estimates for Vornado Realty Trust in a research note issued on Monday, November 22nd. Truist Securiti analyst M. Lewis now forecasts that the real estate investment trust will earn $2.83 per share for the year, up from their previous forecast of $2.80. Truist Securiti also issued estimates for Vornado Realty Trust’s Q1 2022 earnings at $0.75 EPS, Q2 2022 earnings at $0.83 EPS, Q4 2022 earnings at $0.87 EPS, FY2022 earnings at $3.32 EPS, FY2023 earnings at $3.60 EPS, FY2024 earnings at $3.86 EPS and FY2025 earnings at $4.13 EPS.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, November 1st. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.58). The business had revenue of $409.21 million during the quarter, compared to the consensus estimate of $380.50 million. Vornado Realty Trust had a negative net margin of 3.00% and a positive return on equity of 1.79%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS.

VNO has been the topic of several other research reports. Bank of America upgraded shares of Vornado Realty Trust from an “underperform” rating to a “neutral” rating in a research report on Friday, September 24th. Citigroup upped their target price on shares of Vornado Realty Trust from $39.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, October 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.71.

VNO opened at $44.11 on Wednesday. The firm’s 50-day simple moving average is $44.05 and its 200-day simple moving average is $44.62. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of -71.14 and a beta of 1.33. The company has a debt-to-equity ratio of 1.60, a quick ratio of 6.70 and a current ratio of 6.70. Vornado Realty Trust has a twelve month low of $35.02 and a twelve month high of $50.91.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Monday, November 8th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, November 5th. This represents a $2.12 dividend on an annualized basis and a yield of 4.81%. Vornado Realty Trust’s payout ratio is presently -341.93%.

Large investors have recently made changes to their positions in the stock. Swiss National Bank raised its position in shares of Vornado Realty Trust by 6.5% in the 2nd quarter. Swiss National Bank now owns 665,070 shares of the real estate investment trust’s stock valued at $31,039,000 after acquiring an additional 40,383 shares during the period. Lido Advisors LLC raised its position in shares of Vornado Realty Trust by 82.2% in the 2nd quarter. Lido Advisors LLC now owns 22,688 shares of the real estate investment trust’s stock valued at $1,059,000 after acquiring an additional 10,233 shares during the period. M&T Bank Corp raised its position in shares of Vornado Realty Trust by 30.3% in the 2nd quarter. M&T Bank Corp now owns 12,867 shares of the real estate investment trust’s stock valued at $600,000 after acquiring an additional 2,994 shares during the period. Franklin Resources Inc. raised its position in shares of Vornado Realty Trust by 54.9% in the 2nd quarter. Franklin Resources Inc. now owns 4,717,775 shares of the real estate investment trust’s stock valued at $220,179,000 after acquiring an additional 1,672,778 shares during the period. Finally, Berman Capital Advisors LLC raised its position in shares of Vornado Realty Trust by 64.6% in the 3rd quarter. Berman Capital Advisors LLC now owns 1,997 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 784 shares during the period. Institutional investors and hedge funds own 68.49% of the company’s stock.

About Vornado Realty Trust

Vornado Realty Trust is a real estate investment trust. The company owns office, retail, merchandise mart properties and other real estate and related investments. Its office properties include various building office complexes and Bank of America Center in San Francisco. The company’s retail properties include shopping centers, regional malls single tenant retail assets.

Featured Story: How is a price target determined?

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

Receive News & Ratings for Vornado Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vornado Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.