Vornado Realty Trust (NYSE:VNO) Raises Dividend to $0.74 Per Share

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 Stock Performance

Shares of NYSE VNO traded down $0.38 during midday trading on Thursday, reaching $43.39. 998,310 shares of the company traded hands, compared to its average volume of 1,969,272. Vornado Realty Trust has a 12 month low of $22.42 and a 12 month high of $46.63. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93. The stock’s 50-day simple moving average is $41.81 and its 200-day simple moving average is $33.80.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results 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 firm had revenue of $443.26 million for the quarter, compared to the consensus estimate of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. As a group, analysts forecast that Vornado Realty Trust will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VNO shares. Barclays boosted their target price on Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Piper Sandler reissued a “neutral” rating and issued a $44.00 price objective (up previously from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. Evercore ISI raised their target price on Vornado Realty Trust from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Compass Point upped their price target on shares of Vornado Realty Trust from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company 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.