Vornado Realty Trust (NYSE:VNO) Declares Quarterly Dividend of $0.60
Vornado Realty Trust (NYSE:VNO) announced a quarterly dividend on Thursday, July 27th, RTT News reports. Stockholders of record on Monday, August 7th will be paid a dividend of 0.60 per share by the real estate investment trust on Friday, August 18th. This represents a $2.40 annualized dividend and a dividend yield of 3.04%.
Vornado Realty Trust has decreased its dividend payment by an average of 4.8% annually over the last three years. Vornado Realty Trust has a payout ratio of 68.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Vornado Realty Trust to earn $1.87 per share next year, which means the company may not be able to cover its $2.84 annual dividend with an expected future payout ratio of 151.9%.
Shares of Vornado Realty Trust (NYSE:VNO) traded up 1.19% during midday trading on Thursday, hitting $78.99. The stock had a trading volume of 958,398 shares. The stock’s 50-day moving average is $76.57 and its 200-day moving average is $80.82. The stock has a market cap of $14.96 billion, a PE ratio of 15.25 and a beta of 0.96. Vornado Realty Trust has a 12 month low of $69.81 and a 12 month high of $90.32.
Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.64. Vornado Realty Trust had a return on equity of 6.84% and a net margin of 42.35%. The firm had revenue of $620.85 million during the quarter, compared to analysts’ expectations of $642 million. During the same quarter in the previous year, the business earned ($0.61) earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that Vornado Realty Trust will post $1.46 EPS for the current year.
VNO has been the subject of several recent research reports. TheStreet lowered Vornado Realty Trust from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Barclays PLC dropped their price objective on Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Evercore ISI raised Vornado Realty Trust from an “in-line” rating to an “outperform” rating and set a $106.00 price objective for the company in a research note on Monday, July 10th. Morgan Stanley reissued an “equal weight” rating and set a $81.00 price target on shares of Vornado Realty Trust in a research note on Saturday, July 22nd. Finally, Deutsche Bank AG dropped their price target on Vornado Realty Trust from $105.00 to $103.00 and set a “hold” rating for the company in a research note on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $100.63.
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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.
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