Q3 2024 Earnings Estimate for Vornado Realty Trust Issued By Zacks Research (NYSE:VNO)

Vornado Realty Trust (NYSE:VNO - Free Report) - Analysts at Zacks Research dropped their Q3 2024 EPS estimates for shares of Vornado Realty Trust in a report issued on Wednesday, September 11th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings of $0.50 per share for the quarter, down from their previous estimate of $0.52. The consensus estimate for Vornado Realty Trust's current full-year earnings is $2.13 per share. Zacks Research also issued estimates for Vornado Realty Trust's FY2024 earnings at $2.14 EPS and Q3 2025 earnings at $0.51 EPS.

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

VNO has been the topic of several other reports. Truist Financial increased their price target on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a "hold" rating in a report on Tuesday, August 27th. The Goldman Sachs Group increased their price target on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the company a "sell" rating in a report on Thursday. Barclays increased their price target on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the company an "underweight" rating in a report on Wednesday, August 14th. Evercore ISI increased their price target on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, August 28th. Finally, Scotiabank increased their price target on shares of Vornado Realty Trust from $23.00 to $33.00 and gave the company a "sector perform" rating in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $30.43.

Vornado Realty Trust Stock Performance

Shares of VNO stock traded up $0.43 on Friday, reaching $36.36. The stock had a trading volume of 2,037,014 shares, compared to its average volume of 2,086,701. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 242.42 and a beta of 1.65. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. Vornado Realty Trust has a 12 month low of $18.36 and a 12 month high of $36.62. The firm's 50-day moving average is $31.06 and its two-hundred day moving average is $27.64.

Insider Buying and Selling

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the firm'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 value of $56,380.00. Following the sale, the director now owns 3,034 shares in the company, valued at $85,528.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.14% of the stock is currently owned by company insiders.

Institutional Trading of Vornado Realty Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vornado Realty Trust during the second quarter valued at $48,000. Fidelis Capital Partners LLC bought a new position in shares of Vornado Realty Trust during the first quarter valued at $55,000. Principal Securities Inc. bought a new position in shares of Vornado Realty Trust during the fourth quarter valued at $58,000. EverSource Wealth Advisors LLC raised its stake in shares of Vornado Realty Trust by 61.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust's stock valued at $77,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Vornado Realty Trust by 98.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,972 shares of the real estate investment trust's stock valued at $131,000 after acquiring an additional 2,465 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company's stock.

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.