Vornado Realty Trust's Series M Preferred Shares Cross 5.5% Yield MarkBy Preferred Stock Channel Staff, Wednesday, May 15, 2:06 PM ET
In trading on Wednesday, shares of Vornado Realty Trust's 5.25% Series M Cumulative Redeemable Preferred Shares (NYSE:VNO.PRM) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.3125), with shares changing hands as low as $23.78 on the day. This compares to an average yield of 6.78% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, VNO.PRM was trading at a 4.44% discount to its liquidation preference amount, versus the average premium of 33.79% in the "Real Estate" category.
The chart below shows the one year performance of VNO.PRM shares, versus VNO:
Below is a dividend history chart for VNO.PRM, showing historical dividend payments on Vornado Realty Trust's 5.25% Series M Cumulative Redeemable Preferred Shares:
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In Wednesday trading, Vornado Realty Trust's 5.25% Series M Cumulative Redeemable Preferred Shares (NYSE:VNO.PRM) is currently down about 0.1% on the day, while the common shares (NYSE:VNO) are up about 0.4%.
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