FY2018 EPS Estimates for Vornado Realty Trust Decreased by SunTrust Banks (VNO)
Vornado Realty Trust (NYSE:VNO) – Stock analysts at SunTrust Banks cut their FY2018 earnings per share (EPS) estimates for shares of Vornado Realty Trust in a research report issued to clients and investors on Thursday, November 15th. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings of $3.90 per share for the year, down from their previous forecast of $3.96. SunTrust Banks has a “Buy” rating and a $85.00 price target on the stock. SunTrust Banks also issued estimates for Vornado Realty Trust’s Q4 2018 earnings at $1.03 EPS, Q1 2019 earnings at $0.98 EPS, Q2 2019 earnings at $1.02 EPS, Q3 2019 earnings at $1.04 EPS, Q4 2019 earnings at $1.05 EPS, FY2019 earnings at $4.09 EPS, FY2020 earnings at $4.37 EPS, FY2021 earnings at $4.95 EPS and FY2022 earnings at $5.10 EPS.
A number of other equities research analysts have also issued reports on VNO. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price target on shares of Vornado Realty Trust in a research note on Monday, July 30th. ValuEngine upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Zacks Investment Research upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Monday, October 1st. Scotiabank started coverage on Vornado Realty Trust in a research note on Tuesday, October 16th. They issued an “underperform” rating for the company. Finally, Citigroup cut their price target on Vornado Realty Trust from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, October 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $79.80.
Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, October 29th. The real estate investment trust reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Vornado Realty Trust had a return on equity of 8.55% and a net margin of 16.89%. The company had revenue of $542.05 million during the quarter, compared to the consensus estimate of $544.62 million. During the same period in the prior year, the business posted $0.52 earnings per share. Vornado Realty Trust’s revenue for the quarter was up 2.5% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of the business. Van ECK Associates Corp purchased a new position in shares of Vornado Realty Trust during the second quarter valued at about $2,727,000. Renaissance Technologies LLC purchased a new position in shares of Vornado Realty Trust during the second quarter valued at about $5,987,000. KAMES CAPITAL plc purchased a new position in shares of Vornado Realty Trust during the third quarter valued at about $186,000. Bank of Montreal Can grew its position in shares of Vornado Realty Trust by 50.1% during the third quarter. Bank of Montreal Can now owns 199,750 shares of the real estate investment trust’s stock valued at $14,583,000 after purchasing an additional 66,635 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its position in shares of Vornado Realty Trust by 14.5% during the second quarter. Virginia Retirement Systems ET AL now owns 59,936 shares of the real estate investment trust’s stock valued at $4,430,000 after purchasing an additional 7,600 shares in the last quarter. Institutional investors and hedge funds own 79.80% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Monday, November 5th were paid a $0.63 dividend. The ex-dividend date was Friday, November 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 3.53%. Vornado Realty Trust’s payout ratio is presently 67.56%.
Vornado Realty Trust Company Profile
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. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2017.
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