Vornado Stock To Go Ex-dividend Tomorrow (VNO)

NEW YORK ( TheStreet) -- The ex-dividend date for Vornado Realty (NYSE: VNO) is tomorrow, August 8, 2012. Owners of shares as of market close today will be eligible for a dividend of 69 cents per share. At a price of $84.85 as of 9:30 a.m. ET, the dividend yield is 3.2%.

The average volume for Vornado has been 999,200 shares per day over the past 30 days. Vornado has a market cap of $15.9 billion and is part of the financial sector and real estate industry. Shares are up 11.4% year to date as of the close of trading on Monday.

Vornado Realty Trust is a privately owned real estate investment trust. The trust engages in investment, ownership, and management of commercial real estate. It invests in the real estate markets of United States. The trust primarily invests in office, industrial and retail properties. The company has a P/E ratio of 42.4, above the average real estate industry P/E ratio of 36.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Vornado as a buy. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Vornado Ratings Report.

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