Vornado Realty Trust (NYSE:VNO) Stock Price Up 4.7% After Earnings Beat

Shares of Vornado Realty Trust (NYSE:VNO) rose 4.7% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $44.31 and last traded at $44.38. Approximately 549,394 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 1,117,767 shares. The stock had previously closed at $42.37.

The real estate investment trust reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.66. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%.

Vornado Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 7.02%. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, December 16th. Vornado Realty Trust’s dividend payout ratio (DPR) is -255.17%.

Wall Street Analyst Weigh In

VNO has been the subject of a number of research reports. Mizuho upgraded Vornado Realty Trust from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $38.00 to $48.00 in a research note on Tuesday, January 7th. StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a report on Tuesday, November 12th. Barclays raised their target price on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Truist Financial raised their target price on shares of Vornado Realty Trust from $31.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Piper Sandler reissued a “neutral” rating and issued a $44.00 target price (up previously from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.98.

Institutional Investors Weigh In On Vornado Realty Trust

Hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC bought a new stake in shares of Vornado Realty Trust during the fourth quarter valued at approximately $32,000. UMB Bank n.a. raised its holdings in shares of Vornado Realty Trust by 53.2% during the fourth quarter. UMB Bank n.a. now owns 772 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 268 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Vornado Realty Trust by 1,014.0% during the fourth quarter. Versant Capital Management Inc now owns 958 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 872 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Vornado Realty Trust by 331.0% during the third quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 844 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Vornado Realty Trust by 122.2% during the third quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 661 shares during the last quarter. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Stock Performance

The stock has a fifty day moving average price of $42.13 and a two-hundred day moving average price of $39.46. The company has a market cap of $8.04 billion, a P/E ratio of -145.34 and a beta of 1.62. The company has a debt-to-equity ratio of 1.93, a current ratio of 4.97 and a quick ratio of 4.97.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.