Vornado: Q3 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Vornado Realty Trust (VNO) on Monday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
NEW YORK (AP) — NEW YORK (AP) — Vornado Realty Trust (VNO) on Monday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
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The real estate investment trust, based in New York, said it had funds from operations of $127.2 million, or 66 cents per share, in the period.
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The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 66 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $52.8 million, or 28 cents per share.
The real estate investment trust, based in New York, posted revenue of $451 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $460 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VNO at https://www.zacks.com/ap/VNO