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Vornado Realty Trust | 5.40% Series L Cumulative Redeemable Preferred Shares (VNO.PRL)

Prospectus excerpt:  We are offering to the public 12,000,000 of our 5.40% Series L Cumulative Redeemable Preferred Shares of Beneficial Interest, liquidation preference $25.00 per share, which we refer to as the "Series L Preferred Shares".

Dividends on the Series L Preferred Shares will be cumulative from the date of original issue of this series and payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year, commencing on April 1, 2013, at the rate of 5.40% of the liquidation preference per annum, or $1.35 per Series L Preferred Share per annum.

Except in instances relating to preservation of our status as a real estate investment trust, the Series L Preferred Shares are not redeemable until January 25, 2018. On and after January 25, 2018, we may redeem the Series L Preferred Shares in whole at any time or in part from time to time at a redemption price of $25.00 per share, plus any accrued and unpaid dividends through the date of redemption. The Series L Preferred Shares have no maturity date and will remain outstanding indefinitely unless redeemed.

Full Prospectus PDF », VNO Page »

Alternate symbology:VNO-L, VNO-PL, VNOprL
Call Date:1/25/2018
Shares Offered:12,000,000
Liquidation Preference:$25
Recent Market Price:$25.47
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.47 (1.88%)
Annualized Dividend:1.35
Recent Ex-Date:6/13/2017
Current Yield:5.31%
Original Coupon:5.40%
Pay Period:Quarterly
Pay Dates:1-Jan, 1-Apr, 1-Jul, 1-Oct
Vornado Realty Trust is a real estate investment trust. Co. conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P. Co. owns and operates office and retail properties in New York and Washington, DC/ Northern Virginia area. As of Dec 31 2016, Co. owned all or portions of, among others: office space in 36 properties, retail space in 70 properties, 12 residential properties and Hotel Pennsylvania in New York, a 32.4% interest in Alexander's, Inc. that owned seven properties in New York, office space and residential properties in Washington DC, theMart in Chicago, and a 70.0% controlling interest in an office complex in San Francisco.


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Name:  Vornado Realty Trust
Sector:  REITs
Number of ETFs Holding VNO:  85 (see which ones)
Total Market Value Held by ETFs:  $2,882,814,596
Total Market Capitalization:  $17,940,000,000
% of Market Cap. Held by ETFs:  16.07%

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