Vornado Realty Trust (NYSE:VNO) declared a quarterly dividend on Thursday, July 27th, RTT News reports. Stockholders of record on Monday, August 7th will be given 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%. The ex-dividend date is Thursday, August 3rd.
Vornado Realty Trust has decreased its dividend by an average of 4.8% annually over the last three years. Vornado Realty Trust has a dividend payout ratio of 68.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Vornado Realty Trust to earn $3.90 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 72.8%.
Vornado Realty Trust (NYSE:VNO) opened at 78.96 on Friday. The stock has a 50 day moving average of $76.83 and a 200 day moving average of $80.76. The company has a market cap of $14.95 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 released its earnings results on Monday, May 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.64. The company had revenue of $620.85 million for the quarter, compared to analysts’ expectations of $642 million. Vornado Realty Trust had a net margin of 42.35% and a return on equity of 6.84%. Vornado Realty Trust’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.61) EPS. Equities analysts expect that Vornado Realty Trust will post $1.46 earnings per share for the current year.
A number of brokerages have issued reports on VNO. Evercore ISI reiterated an “in-line” rating and issued a $107.00 price target (down from $111.00) on shares of Vornado Realty Trust in a report on Thursday, May 4th. BidaskClub upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Bank of America Corporation reiterated a “buy” rating and issued a $113.00 price target (up from $112.00) on shares of Vornado Realty Trust in a report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $81.00 price target on shares of Vornado Realty Trust in a report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus target price 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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