About Vornado Realty Trust (NYSE:VNO)
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company's New York segment consisted of 28.3 million square feet in 86 properties. Its properties include 1290 Avenue of the Americas, Two Penn Plaza, 770 Broadway and 90 Park Avenue. As of December 31, 2016, the Company's Washington, DC segment consisted of 58 properties aggregating 14.7 million square feet, including 11.1 million square feet of office space in 44 properties, nine residential properties containing 3,156 units and a hotel property. Its properties include 2001 Jefferson Davis Highway, 223 23rd Street, 2221 South Clark Street and 1700 M Street. The Company's interests in properties are held by the Operating Partnership. As of December 31, 2016, the Company owned the 3.7 million square foot Mart (theMart) in Chicago.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Commercial REITs
- Sub-Industry: Diversified REITs
- Symbol: NYSE:VNO
- CUSIP: 92904210
- Web: www.vno.com
- Market Cap: $14.83 billion
- Outstanding Shares: 189,465,000
- 50 Day Moving Avg: $75.98
- 200 Day Moving Avg: $77.06
- 52 Week Range: $69.81 - $90.32
Sales & Book Value:
- Trailing P/E Ratio: 17.05
- Foreward P/E Ratio: 58.42
- P/E Growth: 2.68
- Annual Revenue: $2.7 billion
- Price / Sales: 5.49
- Book Value: $31.03 per share
- Price / Book: 2.52
- Annual Dividend: $2.40
- Dividend Yield: 3.0%
- EBITDA: $1.4 billion
- Net Margins: 37.96%
- Return on Equity: 4.51%
- Return on Assets: 1.39%
- Debt-to-Equity Ratio: 0.13%
- Current Ratio: 0.26%
- Quick Ratio: 0.26%
- Average Volume: 1.12 million shs.
- Beta: 1
- Short Ratio: 2.45
Frequently Asked Questions for Vornado Realty Trust (NYSE:VNO)
What is Vornado Realty Trust's stock symbol?
Vornado Realty Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "VNO."
How often does Vornado Realty Trust pay dividends? What is the dividend yield for Vornado Realty Trust?
Vornado Realty Trust declared a quarterly dividend on Thursday, July 27th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.60 per share on Friday, August 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, August 3rd. View Vornado Realty Trust's Dividend History.
How were Vornado Realty Trust's earnings last quarter?
Vornado Realty Trust (NYSE:VNO) issued its earnings results on Monday, July, 31st. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.26 by $0.09. The firm had revenue of $626.04 million for the quarter, compared to analyst estimates of $633.19 million. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. Vornado Realty Trust's quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. View Vornado Realty Trust's Earnings History.
When will Vornado Realty Trust make its next earnings announcement?
Where is Vornado Realty Trust's stock going? Where will Vornado Realty Trust's stock price be in 2017?
10 brokerages have issued 1 year price targets for Vornado Realty Trust's shares. Their forecasts range from $77.00 to $115.00. On average, they anticipate Vornado Realty Trust's share price to reach $94.70 in the next year. View Analyst Ratings for Vornado Realty Trust.
What are analysts saying about Vornado Realty Trust stock?
Here are some recent quotes from research analysts about Vornado Realty Trust stock:
- 1. According to Zacks Investment Research, "Shares of Vornado have outperformed its industry in the past three months. The company’s premium assets in high-rent, high barrier-to-entry markets and a diverse tenant base are likely to drive its growth. In a bid to improve its core business operations, the company has been aggressively disposing its non-strategic assets. In July, it completed the spin-off of its Washington, DC business. This made Vornado a New York-based office and retail REIT. The streamlining efforts are a strategic fit and are expected to propel growth over the long-term. However, the earnings dilutive impact cannot be bypassed in the near term. Further, stiff competition and hike in interest rates remain concerns." (10/17/2017)
- 2. Evercore ISI analysts commented, "We are updating our NAV est for VNO following several media reports last week on the 666 5th Avenue office condo which is 49.5% owned by VNO with the balance owned by the Kushner Companies. The asset is not stabilized, we do not believe is being re-leased as office, and has long been a candidate for redevelopment into residential/mixed use. Based on our updated valuation for the asset ($2.85bn as-is before construction costs), our NAV and forward NAV/sh ests increased just under +2% which drives a $1/sh increase in our PT to $114. VNO notably fell -4% last week, underperforming the office sector by 320bp and all REITs by 430bp." (3/27/2017)
- 3. UBS AG analysts commented, "We think the disclosures today provide a clearer road map as to how shareholders could benefit from the spin-merger of Vornado's Washington DC business into the new entity JBG Smith, targeted for 2Q17. Pro-forma Vornado will become a purer play on the NYC market at a time when sentiment is increasing for office leasing. We still have questions about where JBG will ultimately be valued (particularly how much credit the land pipeline will get), but on paper the spin appears to unlock some hidden value." (1/25/2017)
- 4. J P Morgan Chase & Co analysts commented, "We updated our VNO model and are lowering our 2016 and 2017 FFO estimates to account for the 3Q miss and a lower GAAP NOI run-rate coming out of the quarter. Note that our estimates do not strip out VNO’s planned DC spin-merger with JBG, which is expected to close in 2Q’17; we chose this approach so as to keep earnings multiples relevant until shares of the spin are distributed." (11/30/2016)
Who are some of Vornado Realty Trust's key competitors?
Some companies that are related to Vornado Realty Trust include Digital Realty Trust (DLR), Realty Income Corporation (O), Alexandria Real Estate Equities (ARE), Federal Realty Investment Trust (FRT), VEREIT (VER), Land Securities Group plc (LAND), Kilroy Realty Corporation (KRC), Douglas Emmett (DEI), British Land Company PLC (BLND), Liberty Property Trust (LPT), EPR Properties (EPR), DuPont Fabros Technology (DFT), SEGRO plc (SGRO), STORE Capital Corporation (STOR), Biomed Realty Trust (BMR), Hammerson plc (HMSO), Cousins Properties Incorporated (CUZ) and PS Business Parks (PSB).
Who are Vornado Realty Trust's key executives?
Vornado Realty Trust's management team includes the folowing people:
- Steven Roth, Chairman of the Board of Trustees, Chief Executive Officer
- Joseph Macnow, Interim Chief Financial Officer, Executive Vice President - Finance, Chief Administrative Officer
- David R. Greenbaum, President - New York City Office Division
- Mitchell N. Schear, President - Vornado/Charles E. Smith L.P.
- Matthew Iocco CPA, Executive Vice President, Chief Accounting Officer, Principal Accounting Officer
- Michael J. Franco, Executive Vice President, Chief Investment Officer
- Candace K. Beinecke, Lead Independent Trustee
- Michael D. Fascitelli, Trustee
- Robert P. Kogod, Independent Trustee
- Michael Lynne, Independent Trustee
How do I buy Vornado Realty Trust stock?
Shares of Vornado Realty Trust can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Vornado Realty Trust's stock price today?
MarketBeat Community Rating for Vornado Realty Trust (NYSE VNO)MarketBeat's community ratings are surveys of what our community members think about Vornado Realty Trust and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Vornado Realty Trust stock can currently be purchased for approximately $78.28.
Consensus Ratings for Vornado Realty Trust (NYSE:VNO) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||3 Hold Ratings, 7 Buy Ratings|
|Consensus Rating:||Buy (Score: 2.70)|
|Consensus Price Target: ||$94.70 (20.98% upside)|Consensus Price Target History for Vornado Realty Trust (NYSE:VNO)
Analysts' Ratings History for Vornado Realty Trust (NYSE:VNO)
(Data available from 10/18/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|10/10/2017||Morgan Stanley||Upgrade||Equal Weight -> Overweight||$81.00 -> $84.00||N/A|
|9/26/2017||Sandler O'Neill||Reiterated Rating||Buy||$90.00||Low|
|8/30/2017||Stifel Nicolaus||Downgrade||Buy -> Hold||$86.00 -> $77.00||Low|
|8/24/2017||Argus||Upgrade||Hold -> Buy||$83.00||Low|
|8/2/2017||Evercore ISI||Reiterated Rating||Outperform||$86.00 -> $87.00||Medium|
|7/19/2017||Citigroup Inc.||Lower Price Target||Buy||$96.17 -> $92.00||High|
|7/18/2017||Barclays PLC||Lower Price Target||Equal Weight||$104.00 -> $103.00||High|
|6/22/2017||Bank of America Corporation||Reiterated Rating||Buy||$112.00 -> $113.00||Low|
|5/25/2017||Deutsche Bank AG||Lower Price Target||Hold||$105.00 -> $103.00||Low|
|11/30/2016||J P Morgan Chase & Co||Boost Price Target||Overweight||$110.00 -> $115.00||N/A|
|4/12/2016||Credit Suisse Group||Upgrade||Neutral -> Outperform||$108.00||N/A|
Earnings History for Vornado Realty Trust (NYSE:VNO)Earnings History by Quarter for Vornado Realty Trust (NYSE VNO)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|7/31/2017||Q2 2017||$1.26||$1.35||$633.19 million||$626.04 million||View||N/A|
|5/1/2017||Q1 2017||$0.49||$1.13||$642.00 million||$620.85 million||View||Listen|
|2/13/2017||Q416||$1.31||$1.13||$637.56 million||$638.26 million||View||N/A|
|10/31/2016||Q316||$1.27||$1.24||$631.60 million||$633.20 million||View||N/A|
|8/1/2016||Q2||$1.27||$1.21||$621.30 million||$621.71 million||View||N/A|
|5/2/2016||Q1||$1.22||$1.08||$642.38 million||$613.04 million||View||N/A|
|2/16/2016||Q415||$1.29||$1.37||$641.23 million||$651.60 million||View||Listen|
|11/2/2015||Q3||$1.26||$1.25||$630.13 million||$627.60 million||View||N/A|
|8/3/2015||Q215||$1.23||$1.71||$614.56 million||$616.28 million||View||N/A|
|5/4/2015||Q115||$1.19||$1.16||$624.60 million||$606.80 million||View||N/A|
|2/18/2015||Q414||$1.23||$1.36||$677.44 million||$679.10 million||View||N/A|
|11/3/2014||Q314||$1.15||$1.15||$666.60 million||$670.90 million||View||N/A|
|8/4/2014||Q214||$1.12||$1.15||$668.27 million||$666.61 million||View||N/A|
|5/5/2014||Q114||$1.27||$1.20||$670.58 million||$660.60 million||View||N/A|
|2/24/2014||Q413||$0.29||($0.37)||$665.70 million||$673.31 million||View||Listen|
|11/5/2013||Q313||$1.10||$1.12||$665.71 million||$683.40 million||View||Listen|
|8/5/2013||Q213||$1.19||$1.25||$673.35 million||$685.86 million||View||N/A|
|5/7/2013||Q1 13||$1.88||$1.14||$649.84 million||$721.02 million||View||Listen|
|2/27/2013||Q412||$1.17||$1.22||$623.31 million||$697.65 million||View||Listen|
|11/1/2012||Q312||$1.14||$1.14||$659.00 million||$710.98 million||View||N/A|
Earnings Estimates for Vornado Realty Trust (NYSE:VNO)
2017 EPS Consensus Estimate: $4.48
2018 EPS Consensus Estimate: $3.92
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Vornado Realty Trust (NYSE:VNO)
|Most Recent Dividend:||8/18/2017|
|Dividend Growth:||-4.80% (3 Year Average)|
|Payout Ratio:||51.72% (Trailing 12 Months of Earnings) |
192.00% (Based on This Year's Estimates)
179.10% (Based on Next Year's Estimates)
Dividend History by Quarter for Vornado Realty Trust (NYSE VNO)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Vornado Realty Trust (NYSE:VNO)
Insider Ownership Percentage: 9.81%Insider Trades by Quarter for Vornado Realty Trust (NYSE:VNO)
Institutional Ownership Percentage: 85.94%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|12/29/2016||Mitchell N. Schear||Insider||Sell||15,000||$102.64||$1,539,600.00|| |
|12/8/2016||Joseph Macnow||EVP||Sell||40,000||$102.98||$4,119,200.00|| |
|11/2/2016||Daniel R. Tisch||Director||Buy||50,000||$88.53||$4,426,500.00|| |
|8/17/2016||Russell B. Wight, Jr.||Director||Buy||2,000||$102.53||$205,060.00|| |
|9/22/2015||Joseph Macnow||EVP||Sell||4,500||$25.08||$112,860.00|| |
|8/24/2015||Russell B Wight Jr||Director||Buy||2,000||$88.20||$176,400.00|| |
|1/7/2015||Joseph Macnow||EVP||Sell||30,663||$121.64||$3,729,847.32|| |
|12/22/2014||Mitchell N Schear||Insider||Sell||25,000||$117.16||$2,929,000.00|| |
|11/19/2014||Richard R West||Director||Sell||26,000||$25.55||$664,300.00|| |
|10/10/2014||Michael D Fascitelli||Director||Sell||400,000||$101.39||$40,556,000.00|| |
|9/17/2014||Robert Minutoli||EVP||Buy||1,000||$103.78||$103,780.00|| |
|8/6/2014||Robert Minutoli||EVP||Buy||1,000||$105.19||$105,190.00|| |
|5/21/2014||Robert Minutoli||EVP||Buy||1,000||$105.11||$105,110.00|| |
|5/14/2014||Joseph Macnow||EVP||Sell||72,321||$105.76||$7,648,668.96|| |
|5/8/2014||Robert Minutoli||EVP||Buy||1,000||$105.04||$105,040.00|| |
|3/3/2014||Robert Minutoli||EVP||Buy||2,000||$96.65||$193,300.00|| |
|1/10/2014||Mitchell Schear||Insider||Sell||25,000||$91.26||$2,281,500.00|| |
|12/10/2013||Wendy Silverstein||EVP||Sell||15,819||$90.69||$1,434,625.11|| |
|6/10/2013||Stephen W Theriot||CFO||Buy||3,100||$81.39||$252,309.00|| |
|4/4/2013||Russell B Wight Jr||Director||Sell||10,000||$84.90||$849,000.00|| |
|8/10/2012||Daniel R Tisch||Director||Buy||5,000||$79.93||$399,650.00|| |
Headline Trends for Vornado Realty Trust (NYSE:VNO)
Latest Headlines for Vornado Realty Trust (NYSE:VNO)
Vornado Realty Trust (VNO) Chart for Wednesday, October, 18, 2017