Vornado Realty Trust (VNO) Declares Dividend Increase – $0.63 Per Share
Vornado Realty Trust (NYSE:VNO) announced a quarterly dividend on Wednesday, January 17th, RTT News reports. Shareholders of record on Monday, January 29th will be given a dividend of 0.63 per share by the real estate investment trust on Thursday, February 15th. This represents a $2.52 annualized dividend and a yield of 3.54%. This is a positive change from Vornado Realty Trust’s previous quarterly dividend of $0.60.
Vornado Realty Trust has decreased its dividend payment by an average of 3.5% per year over the last three years. Vornado Realty Trust has a dividend payout ratio of 61.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vornado Realty Trust to earn $3.94 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 60.9%.
Vornado Realty Trust (VNO) traded down $0.71 during mid-day trading on Wednesday, reaching $71.21. The company’s stock had a trading volume of 953,300 shares, compared to its average volume of 867,610. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.20. Vornado Realty Trust has a 52 week low of $71.14 and a 52 week high of $89.38. The stock has a market cap of $13,656.02, a P/E ratio of 17.20, a PEG ratio of 4.31 and a beta of 1.00.
VNO has been the topic of several analyst reports. Barclays restated a “hold” rating and set a $80.00 price objective on shares of Vornado Realty Trust in a report on Thursday, October 19th. Zacks Investment Research downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. JPMorgan Chase & Co. downgraded Vornado Realty Trust from an “overweight” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a report on Friday, December 15th. TheStreet upgraded Vornado Realty Trust from a “c+” rating to a “b-” rating in a report on Monday, December 18th. Finally, Sandler O’Neill restated a “buy” rating and set a $90.00 price objective on shares of Vornado Realty Trust in a report on Tuesday, September 26th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $91.75.
Vornado Realty Trust Company Profile
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.
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