Vornado Realty Trust (NYSE:VNO) Releases Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• Vornado Realty Trust beat quarterly earnings expectations: The REIT reported $0.08 in EPS versus the consensus estimate of a $0.04 loss, while revenue reached $462.24 million, above estimates of $454.46 million.
• Shares rose 1.6% to $40.03 following the results. Analysts maintain a consensus “Hold” rating with an average price target of $39.17, despite several firms recently raising their targets.
• Vornado authorized a $300 million share-repurchase program, allowing it to buy back up to 5.4% of outstanding shares; institutional investors own approximately 90% of the company.

Vornado Realty Trust (NYSE:VNO - Get Free Report) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.12, FiscalAI reports. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The business had revenue of $462.24 million during the quarter, compared to analyst estimates of $454.46 million.

Vornado Realty Trust Trading Up 1.6%

Shares of NYSE:VNO traded up $0.64 during trading on Monday, reaching $40.03. 1,457,660 shares of the stock were exchanged, compared to its average volume of 1,919,414. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $43.37. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.98 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a quick ratio of 6.14 and a current ratio of 6.14. The firm's 50-day moving average price is $37.92 and its 200 day moving average price is $32.27.

Analyst Upgrades and Downgrades

A number of analysts recently commented on VNO shares. Mizuho boosted their target price on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Truist Financial boosted their price target on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the company a "hold" rating in a report on Friday, June 26th. BMO Capital Markets lifted their price target on Vornado Realty Trust from $33.00 to $43.00 and gave the company an "outperform" rating in a report on Monday, June 15th. Weiss Ratings raised shares of Vornado Realty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 9th. Finally, Citigroup boosted their target price on Vornado Realty Trust from $32.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $39.17.

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

Insider Buying and Selling at Vornado Realty Trust

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. bought 4,000 shares of the company's stock in a transaction on Monday, June 8th. The shares were bought at an average cost of $16.94 per share, with a total value of $67,760.00. Following the completion of the acquisition, the director owned 13,000 shares of the company's stock, valued at approximately $220,220. This trade represents a 44.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael D. Fascitelli sold 133,350 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the completion of the transaction, the director owned 475,161 shares in the company, valued at approximately $17,400,395.82. The trade was a 21.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.00% of the company's stock.

Institutional Trading of Vornado Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in VNO. Hsbc Holdings PLC grew its stake in Vornado Realty Trust by 17.2% during the 4th quarter. Hsbc Holdings PLC now owns 303,616 shares of the real estate investment trust's stock worth $10,106,000 after buying an additional 44,559 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Vornado Realty Trust by 14.0% during the fourth quarter. Corient Private Wealth LLC now owns 45,759 shares of the real estate investment trust's stock valued at $1,523,000 after acquiring an additional 5,602 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of Vornado Realty Trust by 7.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 70,543 shares of the real estate investment trust's stock worth $2,348,000 after acquiring an additional 4,607 shares during the period. State of Tennessee Department of Treasury lifted its position in Vornado Realty Trust by 7.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 694,757 shares of the real estate investment trust's stock valued at $22,149,000 after purchasing an additional 49,046 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Vornado Realty Trust by 12.2% during the 4th quarter. Empowered Funds LLC now owns 7,252 shares of the real estate investment trust's stock valued at $241,000 after purchasing an additional 791 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.

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.

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