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

Vornado Realty Trust (NYSE:VNO) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Shareholders 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 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 Price Performance

NYSE VNO traded down $0.38 on Thursday, reaching $43.39. The company’s stock had a trading volume of 999,054 shares, compared to its average volume of 1,969,272. Vornado Realty Trust has a twelve month low of $22.42 and a twelve month high of $46.63. The company has a debt-to-equity ratio of 1.93, a current ratio of 4.97 and a quick ratio of 4.97. The firm’s 50 day moving average is $41.81 and its two-hundred day moving average is $33.80.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. BMO Capital Markets upgraded Vornado Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $29.00 to $40.00 in a report on Thursday, August 8th. Piper Sandler restated a “neutral” rating and set a $44.00 price objective (up previously from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. Compass Point upped their target price on Vornado Realty Trust from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Barclays upped their target price on Vornado Realty Trust from $27.00 to $34.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Finally, Scotiabank upped their target price on Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vornado Realty Trust currently has an average rating of “Hold” and a consensus price target of $36.58.

About Vornado Realty Trust

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