In trading on Tuesday, Vornado Realty Trust’s 4.45% Series O Cumulative Redeemable Preferred Shares (Symbol: VNO.PRO) yielded over 7.5%, based on a quarterly dividend totaling $1.1125 annually. Shares traded as low as $14.55, marking a 40% discount to its liquidation preference, compared to an average discount of 13.65% within the “Real Estate” category.
At the same time, VNO.PRO shares were down approximately 0.9%, while Vornado’s common shares (Symbol: VNO) increased by about 0.5%. The average yield of preferred stocks in the same category stands at 8.01%, highlighting the differing market positions among these securities.
