5 Best Dividend Stocks to Buy According to Billionaire Michael Price

4. Vornado Realty Trust (NYSE: VNO)

Price’s Stake Value: $4,984,000
Percent of Michael Price’s 13F Portfolio: 0.59%
Dividend Yield: 4.22%
Number of Hedge Fund Holders: 25

Vornado Realty Trust (NYSE: VNO) is a New York-based real estate company that owns and manages retail and office assets located in New York City, San Francisco, and Chicago. The company has established itself as an industry leader with its collection of premier assets across the country. Vornado Realty Trust (NYSE: VNO)’s earnings in Q1 of 2021 reflected a strong financial position for the company. Net quarterly income was reported to be $4.08 million or $0.02 per share compared to $4.96 million or $0.03 per share in the preceding quarter.

The company has ranked as a top dividend stock due to its high dividend yield of 4.22%. For the quarter ended March 31, 2021, Vornado Realty Trust (NYSE: VNO) paid a quarterly cash dividend of $0.53 per share on May 21^st. Furthermore, the company’s board has also declared dividends for preferred stocks with the Series A convertible earning $0.8125 per share, payable on July 1, 2021. Vornado Realty Trust (NYSE: VNO) ranks fifth in the list of the 10 best dividend stocks to buy according to billionaire Michael Price.

This real estate investment trust was mentioned in Third Avenue Management’s investor letter for Q3 2020. Here is what they had to say:

“Third Avenue has long championed enterprises with sound business practices run by aligned control groups that exhibit strong stewardship. Within Third Avenue’s real estate strategy, this oftentimes leads the Fund to “pass” on investments in companies with uncertain environmental liabilities, business models that could be deemed predatory, and corporate governance structures that are stacked against key stakeholders. Consequently, the select-set of real estate and real estate-related business that make it into the Third Avenue Real Estate Value Fund represent some of the true industry leaders in respect to their ESG practices, including Vornado Realty Trust (a New York City-centric owner of office properties) that has more than 26 million square feet of LEED-certified properties (Leadership in Energy and Environmental Design) and is a 10-time recipient of NAREIT’s ‘Leader in the Light Award.”