Vornado Realty Trust (VNO) Increases Dividend to $0.63 Per Share
Vornado Realty Trust (NYSE:VNO) announced a quarterly dividend on Wednesday, January 17th, RTT News reports. Investors 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 dividend on an annualized basis and a dividend 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 by an average of 3.5% per year over the last three years. Vornado Realty Trust has a payout ratio of 61.2% meaning its dividend is sufficiently covered by earnings. 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 on Wednesday, hitting $71.21. The company had a trading volume of 953,300 shares, compared to its average volume of 867,610. 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 firm has a market capitalization of $13,656.02, a price-to-earnings ratio of 17.20, a P/E/G ratio of 4.31 and a beta of 1.00. Vornado Realty Trust has a fifty-two week low of $71.14 and a fifty-two week high of $89.38.
VNO has been the topic of a number of research analyst reports. TheStreet raised Vornado Realty Trust from a “c+” rating to a “b-” rating in a research note on Monday, December 18th. JPMorgan Chase & Co. lowered Vornado Realty Trust from an “overweight” rating to a “neutral” rating and set a $92.00 price target on the stock. in a research note on Friday, December 15th. Zacks Investment Research lowered Vornado Realty Trust from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley raised Vornado Realty Trust from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $81.00 to $84.00 in a research note on Tuesday, October 10th. Finally, Barclays reissued a “hold” rating and issued a $80.00 price target on shares of Vornado Realty Trust in a research note on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Vornado Realty Trust currently has an average rating of “Hold” and a consensus target price of $91.75.
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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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