Preferred Stock Investing
Preferred Stock Channel
Market News Video Self Directed Investor The Warren Buffetts Next Door Stock message boards
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 »

Call Date:1/25/2018
Shares Offered:12,000,000
Liquidation Preference:$25
Recent Market Price:$24.29
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-0.71 (-2.84%)
Annualized Dividend:1.35
Recent Ex-Date:3/12/2015
Current Yield:5.56%
Original Coupon:5.400%
Pay Period:Quarterly
Pay Dates:1-Jan, 1-Apr, 1-Jul, 1-Oct
Vornado Realty Trust is a real estate investment trust. Co. owns and operates office and retail properties with large concentrations in the New York City metropolitan area and in the Washington, DC / Northern Virginia area. In addition, Co. has a 32.4% interest in Alexander's, Inc., which owns six properties in the greater New York metropolitan area. Co. operates the following business segments: New York, Washington, DC, Retail Properties, and Toys "R" Us (Toys). At Dec 31 2013, Co.'s New York segment operated 71 properties; Co.'s Washington, DC segment also operated 71 properties; Co.'s Retail Properties segment operated 112 retail properties; and Co.'s Toys segment operated 1,756 stores.


Open the VNO Information Page »
Name:  Vornado Realty Trust
Sector:  REITs
Number of ETFs Holding VNO:  71 (see which ones)
Total Market Value Held by ETFs:  $1,158,107,908
Total Market Capitalization:  $20,735,000,000
% of Market Cap. Held by ETFs:  5.59%

Quotes delayed 20 minutes

Vornado Realty Trust | 5.40% Series L Cumulative Redeemable Preferred Shares (VNO.PRL) Information Page | Preferred Stock Channel | | Copyright © 2011 - 2015, All Rights Reserved

Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and dividend videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.