$531.82 Million in Sales Expected for Vornado Realty Trust (VNO) This Quarter
Equities research analysts predict that Vornado Realty Trust (NYSE:VNO) will announce $531.82 million in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Vornado Realty Trust’s earnings, with the lowest sales estimate coming in at $513.78 million and the highest estimate coming in at $549.86 million. Vornado Realty Trust posted sales of $626.04 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 15.1%. The firm is expected to issue its next earnings results after the market closes on Monday, July 30th.
According to Zacks, analysts expect that Vornado Realty Trust will report full year sales of $2.15 billion for the current financial year, with estimates ranging from $2.06 billion to $2.20 billion. For the next year, analysts anticipate that the firm will post sales of $2.20 billion per share, with estimates ranging from $2.07 billion to $2.26 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Vornado Realty Trust.
Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, April 30th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.59). Vornado Realty Trust had a return on equity of 5.04% and a net margin of 7.01%. The company had revenue of $536.43 million during the quarter, compared to the consensus estimate of $533.54 million. During the same period in the previous year, the company earned $0.84 earnings per share. Vornado Realty Trust’s quarterly revenue was up 5.6% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. grew its holdings in shares of Vornado Realty Trust by 5,978.3% during the fourth quarter. Assetmark Inc. now owns 1,398 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,375 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in shares of Vornado Realty Trust during the fourth quarter valued at approximately $210,000. Sentry Investments Corp. purchased a new stake in shares of Vornado Realty Trust during the first quarter valued at approximately $249,000. IBM Retirement Fund grew its holdings in shares of Vornado Realty Trust by 47.6% during the first quarter. IBM Retirement Fund now owns 3,799 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 1,226 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Vornado Realty Trust during the fourth quarter valued at approximately $304,000. 80.12% of the stock is owned by institutional investors and hedge funds.
Vornado Realty Trust opened at $75.08 on Friday, Marketbeat.com reports. Vornado Realty Trust has a 1 year low of $64.13 and a 1 year high of $80.92. The stock has a market capitalization of $14.13 billion, a P/E ratio of 19.91, a P/E/G ratio of 8.02 and a beta of 0.90. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.20.
About Vornado Realty Trust
Vornado Realty Trust is a preeminent owner, manager and developer of office and retail assets. Vornado's portfolio is concentrated in the nation's key market ? New York City ? along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Vornado Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vornado Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.