Vornado Realty Trust (VNO) Announces Quarterly Dividend of $0.60

Vornado Realty Trust (NYSE:VNO) declared a quarterly dividend on Thursday, October 26th, RTT News reports. Investors of record on Monday, November 6th will be paid a dividend of 0.60 per share by the real estate investment trust on Monday, November 20th. This represents a $2.40 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, November 3rd.

Vornado Realty Trust has decreased its dividend by an average of 4.8% annually over the last three years. Vornado Realty Trust has a dividend payout ratio of 61.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Vornado Realty Trust to earn $4.00 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 60.0%.

Shares of Vornado Realty Trust (VNO) traded up $0.35 during trading on Friday, reaching $75.61. 763,900 shares of the company’s stock were exchanged, compared to its average volume of 1,149,539. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $14,290.21, a P/E ratio of 18.45, a P/E/G ratio of 4.56 and a beta of 0.99. Vornado Realty Trust has a fifty-two week low of $71.89 and a fifty-two week high of $89.38.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.90. The company had revenue of $528.76 million for the quarter, compared to analysts’ expectations of $545.53 million. Vornado Realty Trust had a net margin of 35.23% and a return on equity of 4.73%. Vornado Realty Trust’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. sell-side analysts expect that Vornado Realty Trust will post 3.89 EPS for the current fiscal year.

Several equities research analysts have recently commented on VNO shares. Stifel Nicolaus lowered shares of Vornado Realty Trust from a “buy” rating to a “hold” rating and reduced their price target for the company from $86.00 to $77.00 in a research report on Wednesday, August 30th. Zacks Investment Research raised shares of Vornado Realty Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 13th. Evercore ISI reissued an “outperform” rating and issued a $86.00 target price (down from $106.00) on shares of Vornado Realty Trust in a report on Friday, July 21st. Morgan Stanley raised shares of Vornado Realty Trust from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $81.00 to $84.00 in a report on Tuesday, October 10th. Finally, Barclays PLC reduced their target price on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $93.67.

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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.

Dividend History for Vornado Realty Trust (NYSE:VNO)

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