Vornado Realty Trust to Post Q3 2024 Earnings of $0.55 Per Share, Zacks Research Forecasts (NYSE:VNO)

Vornado Realty Trust (NYSE:VNO - Free Report) - Research analysts at Zacks Research lowered their Q3 2024 EPS estimates for Vornado Realty Trust in a research report issued to clients and investors on Thursday, May 16th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $0.55 for the quarter, down from their previous estimate of $0.58. The consensus estimate for Vornado Realty Trust's current full-year earnings is $2.27 per share. Zacks Research also issued estimates for Vornado Realty Trust's Q4 2024 earnings at $0.54 EPS, Q1 2025 earnings at $0.50 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.58 EPS, FY2025 earnings at $2.15 EPS and FY2026 earnings at $2.56 EPS.

Other equities research analysts have also issued reports about the stock. Scotiabank cut their target price on shares of Vornado Realty Trust from $24.00 to $23.00 and set a "sector perform" rating on the stock in a report on Thursday. Morgan Stanley upgraded shares of Vornado Realty Trust from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $24.00 to $26.00 in a report on Thursday, March 28th. Piper Sandler dropped their price objective on shares of Vornado Realty Trust from $25.00 to $22.00 and set an "underweight" rating on the stock in a report on Monday. Compass Point dropped their price objective on shares of Vornado Realty Trust from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, May 8th. Finally, Barclays began coverage on shares of Vornado Realty Trust in a report on Wednesday, March 27th. They set an "underweight" rating and a $22.00 price objective on the stock. Six analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $24.55.

Vornado Realty Trust Trading Down 0.2 %

VNO traded down $0.06 during mid-day trading on Friday, hitting $24.74. The stock had a trading volume of 1,498,497 shares, compared to its average volume of 2,188,988. The stock's fifty day simple moving average is $26.48 and its 200-day simple moving average is $26.17. The company has a debt-to-equity ratio of 1.81, a current ratio of 4.97 and a quick ratio of 4.97. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 164.94 and a beta of 1.57. Vornado Realty Trust has a 1-year low of $12.82 and a 1-year high of $32.21.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.55). The firm had revenue of $441.89 million during the quarter, compared to analyst estimates of $453.82 million. Vornado Realty Trust had a return on equity of 3.02% and a net margin of 5.07%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new position in shares of Vornado Realty Trust during the 4th quarter worth approximately $26,000. Financial Gravity Asset Management Inc. increased its holdings in shares of Vornado Realty Trust by 8,355.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 1,522 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 1,504 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Vornado Realty Trust in the fourth quarter valued at about $40,000. Selway Asset Management acquired a new stake in shares of Vornado Realty Trust during the 3rd quarter worth about $45,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Vornado Realty Trust during the 4th quarter worth about $50,000. Institutional investors own 90.02% of the company's stock.

About Vornado Realty Trust

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.