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.

Dividend History for Vornado Realty Trust (NYSE:VNO)

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