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.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.90. The business had revenue of $528.76 million for the quarter, compared to analyst estimates of $545.53 million. Vornado Realty Trust had a return on equity of 4.73% and a net margin of 35.23%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. research analysts forecast that Vornado Realty Trust will post 3.92 earnings per share for the current fiscal year.

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.

Dividend History for Vornado Realty Trust (NYSE:VNO)

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