Vornado Realty Trust Expected to Earn Q3 2024 Earnings of $0.52 Per Share (NYSE:VNO)

Vornado Realty Trust (NYSE:VNO) – Zacks Research increased their Q3 2024 earnings estimates for shares of Vornado Realty Trust in a report released on Wednesday, August 14th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $0.52 per share for the quarter, up from their previous estimate of $0.51. The consensus estimate for Vornado Realty Trust’s current full-year earnings is $2.12 per share. Zacks Research also issued estimates for Vornado Realty Trust’s Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $2.16 EPS, Q3 2025 earnings at $0.53 EPS, Q4 2025 earnings at $0.53 EPS, FY2025 earnings at $2.05 EPS, Q1 2026 earnings at $0.53 EPS, Q2 2026 earnings at $0.54 EPS and FY2026 earnings at $2.19 EPS.

Other analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. Piper Sandler upgraded shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $22.00 to $30.00 in a research note on Thursday, August 8th. BMO Capital Markets upgraded shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $29.00 to $40.00 in a research report on Thursday, August 8th. Compass Point boosted their target price on shares of Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Barclays boosted their target price on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.50.

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock opened at $33.43 on Monday. Vornado Realty Trust has a twelve month low of $18.36 and a twelve month high of $33.69. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. The company has a 50-day simple moving average of $28.21 and a two-hundred day simple moving average of $26.66. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 222.88 and a beta of 1.64.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.37). The company had revenue of $450.27 million for the quarter, compared to the consensus estimate of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS.

Insider Buying and Selling

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total transaction of $56,380.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $85,528.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors have recently added to or reduced their stakes in VNO. Louisiana State Employees Retirement System bought a new stake in Vornado Realty Trust during the 4th quarter worth approximately $1,268,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Vornado Realty Trust by 7.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 188,337 shares of the real estate investment trust’s stock valued at $5,321,000 after purchasing an additional 12,865 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Vornado Realty Trust by 4.0% in the 4th quarter. Signaturefd LLC now owns 21,168 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 805 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Vornado Realty Trust by 6.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,943 shares of the real estate investment trust’s stock valued at $733,000 after purchasing an additional 1,558 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Vornado Realty Trust by 13.9% in the 4th quarter. Handelsbanken Fonder AB now owns 36,000 shares of the real estate investment trust’s stock valued at $1,017,000 after purchasing an additional 4,400 shares during the last quarter. 90.02% of the stock is owned by institutional investors.

About Vornado Realty Trust

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.