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MarketScreener Homepage  >  Equities  >  Nyse  >  Vornado Realty Trust    VNO

VORNADO REALTY TRUST

(VNO)
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Vornado Realty Trust : Sells Property, Bolstering Earnings

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10/28/2019 | 04:19pm EST

By Micah Maidenberg

Vornado Realty Trust (VNO) said profit jumped in the third quarter, helped by gains from its sale of a stake in a property in Manhattan as well as condominiums in the borough.

The property company on Monday reported earnings of $322.9 million, or $1.69 a share, up from $190.7 million, or $1 a share, the year earlier.

Vornado reported $179 million in income connected to property sales, including the sale of its 25% stake in a building located on Madison Avenue, west of Grand Central Station in Manhattan. It also reaped $109 million in after-tax gains from condo units located in a property adjacent to Central Park.

Funds from operations for the quarter increased to $1.46 a share, topping expectations of analysts polled by FactSet by two cents.

Revenue fell 14% from the year prior to $465.9 million, Analysts predicted $459 million in revenue for the quarter.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

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Financials (USD)
Sales 2019 1 898 M
EBIT 2019 366 M
Net income 2019 3 020 M
Debt 2019 6 850 M
Yield 2019 4,61%
P/E ratio 2019 4,19x
P/E ratio 2020 56,1x
EV / Sales2019 10,3x
EV / Sales2020 10,6x
Capitalization 12 629 M
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Technical analysis trends VORNADO REALTY TRUST
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TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 70,00  $
Last Close Price 66,17  $
Spread / Highest target 20,9%
Spread / Average Target 5,79%
Spread / Lowest Target -3,28%
EPS Revisions
Managers
NameTitle
Steven Roth Chairman & Chief Executive Officer
Michael J. Franco President
Gaston Silva Chief Operating Officer
Joseph Macnow EVP, Chief Financial & Administrative Officer
Robert Entin Chief Information Officer & Executive VP
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