Q4 2024 Earnings Forecast for Vornado Realty Trust (NYSE:VNO) Issued By Zacks Research

Posted by on Jun 26th, 2023

Vornado Realty Trust (NYSE:VNO – Get Rating) – Stock analysts at Zacks Research reduced their Q4 2024 earnings per share (EPS) estimates for shares of Vornado Realty Trust in a research report issued on Wednesday, June 21st. Zacks Research analyst N. Dass now expects that the real estate investment trust will earn $0.53 per share for the quarter, down from their prior forecast of $0.55. The consensus estimate for Vornado Realty Trust’s current full-year earnings is $2.54 per share. Zacks Research also issued estimates for Vornado Realty Trust’s Q1 2025 earnings at $0.61 EPS.

Vornado Realty Trust (NYSE:VNO – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.61). The firm had revenue of $445.92 million for the quarter, compared to analysts’ expectations of $452.70 million. Vornado Realty Trust had a negative net margin of 20.39% and a positive return on equity of 2.51%. Vornado Realty Trust’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $0.79 EPS.

A number of other research analysts have also recently weighed in on the stock. Evercore ISI reduced their price target on shares of Vornado Realty Trust from $23.00 to $22.00 in a research report on Monday, March 27th. Piper Sandler downgraded Vornado Realty Trust from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $16.00 to $11.00 in a report on Wednesday, April 26th. The Goldman Sachs Group assumed coverage on Vornado Realty Trust in a research note on Tuesday, March 21st. They set a “sell” rating and a $12.00 price objective on the stock. Truist Financial lowered their target price on Vornado Realty Trust from $27.00 to $22.00 in a research note on Monday, March 20th. Finally, StockNews.com initiated coverage on Vornado Realty Trust in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.00.

Vornado Realty Trust Stock Down 4.3 %

Shares of NYSE:VNO opened at $14.53 on Monday. The stock has a 50-day simple moving average of $14.39 and a 200-day simple moving average of $18.02. The stock has a market capitalization of $2.79 billion, a P/E ratio of -6.49, a PEG ratio of 1.74 and a beta of 1.37. Vornado Realty Trust has a 1 year low of $12.31 and a 1 year high of $30.90. The company has a debt-to-equity ratio of 1.74, a quick ratio of 4.75 and a current ratio of 4.75.

Vornado Realty Trust declared that its Board of Directors has approved a stock buyback program on Wednesday, April 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Vornado Realty Trust

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. acquired 16,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were purchased at an average price of $11.21 per share, for a total transaction of $179,360.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $78,470. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Russell B. Wight, Jr. bought 16,000 shares of Vornado Realty Trust stock in a transaction on Thursday, May 11th. The stock was purchased at an average cost of $11.21 per share, with a total value of $179,360.00. Following the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $78,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Russell B. Wight, Jr. bought 5,341 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was acquired at an average price of $11.30 per share, for a total transaction of $60,353.30. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at $135,600. The disclosure for this purchase can be found here. In the last quarter, insiders bought 25,341 shares of company stock worth $285,033. 8.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vornado Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VNO. Raymond James & Associates lifted its holdings in shares of Vornado Realty Trust by 39.3% during the first quarter. Raymond James & Associates now owns 8,627 shares of the real estate investment trust’s stock valued at $391,000 after purchasing an additional 2,432 shares during the last quarter. US Bancorp DE increased its stake in shares of Vornado Realty Trust by 11.1% in the first quarter. US Bancorp DE now owns 10,522 shares of the real estate investment trust’s stock worth $477,000 after acquiring an additional 1,052 shares during the last quarter. Cetera Advisor Networks LLC purchased a new stake in shares of Vornado Realty Trust during the 1st quarter worth about $208,000. Natixis Advisors L.P. lifted its holdings in shares of Vornado Realty Trust by 24.5% during the 1st quarter. Natixis Advisors L.P. now owns 23,245 shares of the real estate investment trust’s stock valued at $1,053,000 after buying an additional 4,575 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Vornado Realty Trust by 24.1% in the 1st quarter. MetLife Investment Management LLC now owns 43,587 shares of the real estate investment trust’s stock valued at $1,975,000 after buying an additional 8,459 shares in the last quarter. 74.54% of the stock is owned by institutional investors.

Vornado Realty Trust Company Profile

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Vornado is a fully integrated real estate investment trust (REIT) with a collection of premier assets and a focused strategy of growing its dominant positions in New York City office and retail. While concentrated in New York, Vornado also has premier assets in Chicago and San Francisco, and maintains a 32.4% interest in Alexander's, Inc (Alexander's) (NYSE: ALX), which owns six properties in the greater New York metropolitan area.

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Earnings History and Estimates for Vornado Realty Trust (NYSE:VNO)

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