Vornado Realty Trust's Series L Preferred Shares Crosses Above 7.5% Yield Territory

In trading on Monday, shares of Vornado Realty Trust's 5.40% Series L Cumulative Redeemable Preferred Shares (Symbol: VNO.PRL) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.35), with shares changing hands as low as $17.70 on the day. This compares to an average yield of 7.90% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, VNO.PRL was trading at a 27.80% discount to its liquidation preference amount, versus the average discount of 11.93% in the "Real Estate" category.

The chart below shows the one year performance of VNO.PRL shares, versus VNO:

Below is a dividend history chart for VNO.PRL, showing historical dividend payments on Vornado Realty Trust's 5.40% Series L Cumulative Redeemable Preferred Shares:

In Monday trading, Vornado Realty Trust's 5.40% Series L Cumulative Redeemable Preferred Shares (Symbol: VNO.PRL) is currently down about 0.3% on the day, while the common shares (Symbol: VNO) are off about 0.7%.

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