Vornado declares quarterly dividend of 63c per share Vornado Realty Trust (VNO) announced that its Board of Trustees has declared a regular quarterly dividend of 63c per common share, a new indicated annual rate of $2.52. The dividend will be payable on February 17 to common shareholders of record on February 2. The new indicated annual dividend rate when combined with the expected dividend of Urban Edge Properties (UE), which was spun-off from Vornado on January 15, is the same $2.92 annual rate that was paid by Vornado on its common shares in 2014.
Vornado downgraded to Underperform from Neutral at Credit Suisse Credit Suisse downgraded Vornado to Underperform based on relative valuation and exposure to New York City. Price target raised to $111 from $103.50.
BofA/Merrill Office REITs analyst holds analyst/industry conference call U.S. Office & Warehouse REIT Analyst Feldman, along with Jones Lang LaSalle (JLL) Research, Lasing and Capital Markets teams, provide a comprehensive update on leasing and capital market conditions ahead of earnings on an Analyst/Industry conference call to be held on January 20 at 11 am.