Vornado Realty Trust (NYSE:VNO) Plans Quarterly Dividend of $0.53

Vornado Realty Trust (NYSE:VNOGet Rating) declared a quarterly dividend on Wednesday, April 27th, RTT News reports. Shareholders of record on Monday, May 9th will be given a dividend of 0.53 per share by the real estate investment trust on Friday, May 20th. This represents a $2.12 dividend on an annualized basis and a yield of 5.34%.

Vornado Realty Trust has decreased its dividend payment by an average of 5.6% per year over the last three years. Vornado Realty Trust has a payout ratio of 365.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Vornado Realty Trust to earn $3.46 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 61.3%.

NYSE:VNO opened at $39.73 on Thursday. Vornado Realty Trust has a twelve month low of $38.00 and a twelve month high of $50.91. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 1.62. The business has a 50 day moving average price of $43.74 and a two-hundred day moving average price of $43.32. The company has a market cap of $7.62 billion, a P/E ratio of 74.96 and a beta of 1.23.

Vornado Realty Trust (NYSE:VNOGet Rating) last released its quarterly earnings results on Sunday, February 13th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). Vornado Realty Trust had a return on equity of 2.52% and a net margin of 11.07%. The firm had revenue of $421.10 million for the quarter, compared to analyst estimates of $425.44 million. During the same period last year, the company earned $0.66 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Vornado Realty Trust will post 3.31 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on VNO shares. Zacks Investment Research downgraded Vornado Realty Trust from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Wednesday, March 9th. StockNews.com started coverage on Vornado Realty Trust in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Mizuho started coverage on Vornado Realty Trust in a research note on Friday, April 22nd. They set an “underperform” rating and a $38.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.00.

In other news, Director Michael D. Fascitelli sold 119,100 shares of the company’s stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $41.97, for a total transaction of $4,998,627.00. Following the sale, the director now owns 1,100,451 shares in the company, valued at approximately $46,185,928.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 8.22% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of VNO. JustInvest LLC bought a new stake in Vornado Realty Trust in the 4th quarter valued at $262,000. Peapack Gladstone Financial Corp bought a new stake in Vornado Realty Trust in the 4th quarter valued at $262,000. Penserra Capital Management LLC raised its stake in Vornado Realty Trust by 143.8% in the 4th quarter. Penserra Capital Management LLC now owns 6,417 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 3,785 shares during the period. LPL Financial LLC raised its stake in Vornado Realty Trust by 7.6% in the 4th quarter. LPL Financial LLC now owns 11,288 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 799 shares during the period. Finally, Metropolitan Life Insurance Co NY raised its stake in Vornado Realty Trust by 10.9% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 28,983 shares of the real estate investment trust’s stock valued at $1,213,000 after acquiring an additional 2,860 shares during the period. Institutional investors and hedge funds own 68.51% of the company’s stock.

Vornado Realty Trust Company Profile (Get Rating)

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.

Further Reading

Dividend History for Vornado Realty Trust (NYSE:VNO)

Receive News & Ratings for Vornado Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vornado Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.