Vornado Realty Trust (NYSE:VNO) declared a quarterly dividend on Thursday, July 30th, RTT News reports. Stockholders of record on Monday, August 10th will be paid a dividend of 0.53 per share by the real estate investment trust on Friday, August 21st. This represents a $2.12 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, August 7th.
Vornado Realty Trust has increased its dividend by an average of 73.8% annually over the last three years and has increased its dividend every year for the last 1 years. Vornado Realty Trust has a payout ratio of 198.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Vornado Realty Trust to earn $3.16 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 83.5%.
NYSE VNO opened at $34.52 on Friday. Vornado Realty Trust has a one year low of $27.64 and a one year high of $68.68. The company’s 50 day moving average price is $37.45 and its 200 day moving average price is $45.51. The company has a debt-to-equity ratio of 1.24, a quick ratio of 6.17 and a current ratio of 6.17. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 3.86 and a beta of 1.40.
Several research firms recently commented on VNO. ValuEngine upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 9th. Morgan Stanley decreased their price target on shares of Vornado Realty Trust from $36.00 to $34.00 and set an “underweight” rating for the company in a research report on Thursday, June 25th. Deutsche Bank decreased their price target on shares of Vornado Realty Trust from $47.00 to $38.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Zacks Investment Research downgraded shares of Vornado Realty Trust from a “hold” rating to a “sell” rating and set a $36.00 price target for the company. in a research report on Tuesday, May 26th. Finally, Piper Sandler decreased their price target on shares of Vornado Realty Trust from $67.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $51.33.
Vornado Realty Trust Company Profile
Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.
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