Vornado Realty Trust (NYSE:VNO) Issues Earnings Results

Key Points

• Vornado Realty Trust reported a $0.56 earnings per share for the quarter, exceeding analysts' expectations of $0.53 by $0.03.
• The stock price increased by 2.7% on the trading day, reaching $38.67, with a market capitalization of $7.42 billion.
• Vornado's consensus rating stands at "Hold," with an average price target of $38.09 set by analysts following numerous reports.

Vornado Realty Trust (NYSE:VNO - Get Free Report) announced its earnings results on Monday. The real estate investment trust reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.03, Zacks reports. Vornado Realty Trust had a return on equity of 3.83% and a net margin of 9.17%.

Vornado Realty Trust Trading Up 2.7%

VNO stock traded up $1.03 during trading on Monday, hitting $38.67. 1,577,599 shares of the company traded hands, compared to its average volume of 1,429,929. The firm has a market capitalization of $7.42 billion, a PE ratio of 74.37, a P/E/G ratio of 13.62 and a beta of 1.56. Vornado Realty Trust has a 1 year low of $26.19 and a 1 year high of $46.63. The company has a 50-day moving average of $38.93 and a 200-day moving average of $38.59. The company has a debt-to-equity ratio of 1.81, a quick ratio of 4.10 and a current ratio of 4.10.

Analysts Set New Price Targets

VNO has been the topic of a number of research analyst reports. Mizuho decreased their target price on Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating on the stock in a research note on Monday, July 14th. Wall Street Zen upgraded Vornado Realty Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Truist Financial upped their target price on Vornado Realty Trust from $37.00 to $38.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Piper Sandler upped their target price on Vornado Realty Trust from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Scotiabank upped their target price on Vornado Realty Trust from $42.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $38.09.

Insiders Place Their Bets

In related news, EVP Haim Chera sold 20,000 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $37.98, for a total transaction of $759,600.00. Following the completion of the sale, the executive vice president directly owned 30,000 shares in the company, valued at $1,139,400. This represents a 40.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vornado Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings 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 worth $1,017,000 after buying an additional 4,251 shares during the period. AQR Capital Management LLC increased its holdings in shares of Vornado Realty Trust by 18.7% in the 1st quarter. AQR Capital Management LLC now owns 51,939 shares of the real estate investment trust's stock worth $1,903,000 after purchasing an additional 8,189 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Vornado Realty Trust by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust's stock worth $22,705,000 after purchasing an additional 112,956 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company's stock.

About Vornado Realty Trust

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

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