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| Vornado Realty Trust's Series M Preferred Shares Cross 8.5% Yield MarkBy Preferred Stock Channel Staff, Tuesday, January 9, 7:15 PM ET
In trading on Tuesday, shares of Vornado Realty Trust's 5.25% Series M Cumulative Redeemable Preferred Shares (NYSE:VNO.PRM) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $1.3125), with shares changing hands as low as $15.43 on the day. This compares to an average yield of 7.93% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, VNO.PRM was trading at a 37.48% discount to its liquidation preference amount, versus the average discount of 13.92% 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:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Tuesday 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 off about 1.4%.
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