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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 », Secondary Prospectus PDF », VNO Page »
Series: | L | Alternate symbology: | VNO-L, VNO-PL, VNOprL | Redeemable?: | Yes | Call Date: | 1/25/2018 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 12,000,000 | Overallotment: | 1,800,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $15.03 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-9.97 (-39.88%) | Annualized Dividend: | 1.35 | Recent Ex-Date: | 3/14/2024 | Current Yield: | 8.98% | Original Coupon: | 5.40% | Pay Period: | Quarterly | Pay Dates: | 1-Jan, 1-Apr, 1-Jul, 1-Oct | CDx3 Compliance Rating: |
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Vornado Realty Trust is a real estate investment trust and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). Co. is the sole general partner of the Operating Partnership. Co. owns and operates office and retail properties with a concentration in the New York City metropolitan area. In addition, Co. has interest in Alexander's, Inc., which owns properties in the New York metropolitan area, as well as interests in other real estate and investments. Preferreds: VNORP, VNO.PRF, VNO.PRG, VNO.PRH, VNO.PRI, VNO.PRJ, VNO.PRK, VNO.PRL, VNO.PRM, VNO.PRN, VNO.PRO Open the VNO Information Page »
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Name: |
Vornado Realty Trust |
Website: |
www.vno.com |
Sector: |
REITs |
Number of ETFs Holding VNO: |
53 (see which ones) |
Total Market Value Held by ETFs: |
$967,237,869.18 |
Total Market Capitalization: |
$5,032,000,000 |
% of Market Cap. Held by ETFs: |
19.22% |
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