Vornado Realty Trust (NYSE:VNO) Releases Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• Vornado reported Q earnings of ($0.12) per share, missing the consensus by $0.07, while revenue beat at $459.11 million but was down 0.5% year‑over‑year.
• The Board authorized a $300 million share repurchase plan (up to 5.4% of outstanding shares), even as the stock opened about 1.9% lower at $29.64.
• Several analysts cut price targets in recent months; the consensus rating is "Hold" with an average price target of $34.82.

Vornado Realty Trust (NYSE:VNO - Get Free Report) released its quarterly earnings results on Monday. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07), Zacks reports. The company had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.72 million. Vornado Realty Trust had a net margin of 49.99% and a return on equity of 18.64%. Vornado Realty Trust's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share.

Vornado Realty Trust Stock Down 1.9%

Shares of VNO stock opened at $29.64 on Tuesday. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 7.07, a P/E/G ratio of 1.65 and a beta of 1.53. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $43.37. The firm has a fifty day moving average of $27.33 and a 200-day moving average of $31.88. The company has a quick ratio of 5.25, a current ratio of 5.25 and a debt-to-equity ratio of 1.44.

Vornado Realty Trust declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 29th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen downgraded Vornado Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. Scotiabank lowered their target price on Vornado Realty Trust from $36.00 to $32.00 and set a "sector perform" rating for the company in a research note on Monday, March 2nd. Piper Sandler dropped their target price on Vornado Realty Trust from $36.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, April 1st. Morgan Stanley cut their price target on Vornado Realty Trust from $32.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Finally, Barclays decreased their price target on Vornado Realty Trust from $33.00 to $28.00 and set an "underweight" rating on the stock in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $34.82.

Institutional Trading of Vornado Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in Vornado Realty Trust by 18.3% in the 1st quarter. Royal Bank of Canada now owns 27,507 shares of the real estate investment trust's stock valued at $1,017,000 after buying an additional 4,251 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Vornado Realty Trust by 18.7% in the first quarter. AQR Capital Management LLC now owns 51,939 shares of the real estate investment trust's stock valued at $1,903,000 after purchasing an additional 8,189 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Vornado Realty Trust by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust's stock valued at $22,705,000 after purchasing an additional 112,956 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Vornado Realty Trust in the second quarter worth $763,000. Finally, California Public Employees Retirement System boosted its holdings in Vornado Realty Trust by 9.6% during the second quarter. California Public Employees Retirement System now owns 365,237 shares of the real estate investment trust's stock worth $13,967,000 after purchasing an additional 32,028 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a self‐administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado's business model emphasizes long‐term cash flow generation through stable rental income and disciplined portfolio optimization.

The company's core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street‐level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.