Vornado Realty Trust (NYSE:VNO) to Issue Quarterly Dividend of $0.74

Vornado Realty Trust (NYSE:VNO) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Investors of record on Monday, December 16th will be paid a dividend of 0.74 per share by the real estate investment trust on Friday, December 27th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 6.82%. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.30.

Vornado Realty Trust has decreased its dividend payment by an average of 34.3% per year over the last three years.

Vornado Realty Trust Trading Down 0.9 %

NYSE:VNO traded down $0.38 during mid-day trading on Thursday, hitting $43.39. The company had a trading volume of 998,310 shares, compared to its average volume of 1,969,272. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 1.93. Vornado Realty Trust has a fifty-two week low of $22.42 and a fifty-two week high of $46.63. The business’s fifty day moving average is $41.81 and its two-hundred day moving average is $33.80.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.61). Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. The firm had revenue of $443.26 million for the quarter, compared to the consensus estimate of $445.07 million. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $29.00 to $40.00 in a report on Thursday, August 8th. Scotiabank boosted their target price on Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Piper Sandler reaffirmed a “neutral” rating and set a $44.00 price target (up previously from $30.00) on shares of Vornado Realty Trust in a research report on Friday, October 18th. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a report on Tuesday, November 12th. Finally, Evercore ISI increased their target price on Vornado Realty Trust from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Vornado Realty Trust presently has an average rating of “Hold” and an average target price of $36.58.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.