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Vornado Realty Trust's Series K Preferred Shares Crosses Above 5.5% Yield Territory

In trading on Wednesday, shares of Vornado Realty Trust's 5.70% Series K Cumulative Redeemable Preferred Shares (Symbol: VNO.PRK) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.425), with shares changing hands as low as $25.74 on the day. This compares to an average yield of 7.02% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, VNO.PRK was trading at a 3.88% premium to its liquidation preference amount, versus the average premium of 40.15% in the "Real Estate" category.

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

Performance Comparison Chart

Below is a dividend history chart for VNO.PRK, showing historical dividend payments on Vornado Realty Trust's 5.70% Series K Cumulative Redeemable Preferred Shares:

VNO.PRK+Dividend+History+Chart

In Wednesday trading, Vornado Realty Trust's 5.70% Series K Cumulative Redeemable Preferred Shares (Symbol: VNO.PRK) is currently off about 0.9% on the day, while the common shares (Symbol: VNO) are up about 0.3%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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