Vornado Realty Trust (NYSE:VNO) Announces Quarterly Earnings Results, Misses Expectations By $0.61 EPS

Vornado Realty Trust (NYSE:VNO) released its earnings results on Monday. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.61), Zacks reports. Vornado Realty Trust had a return on equity of 1.69% and a net margin of 0.46%. The company had revenue of $443.26 million for the quarter, compared to the consensus estimate of $445.07 million. During the same quarter in the previous year, the company posted $0.66 EPS. The business’s revenue was down 1.7% on a year-over-year basis.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock opened at $42.76 on Wednesday. Vornado Realty Trust has a 12 month low of $19.63 and a 12 month high of $44.05. The stock’s 50 day moving average is $38.90 and its 200-day moving average is $31.31. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of -147.45 and a beta of 1.64.

Analyst Ratings Changes

Several analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a report on Thursday, September 12th. BMO Capital Markets upgraded Vornado Realty Trust from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $29.00 to $40.00 in a report on Thursday, August 8th. Piper Sandler reiterated a “neutral” rating and set a $44.00 target price (up previously from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. Truist Financial upped their target price on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Finally, Bank of America upped their target price on Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Vornado Realty Trust currently has an average rating of “Hold” and a consensus price target of $32.80.

Vornado Realty Trust Company Profile

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