Vornado Realty Trust (VNO) Funds From Operations Doubles
Real estate investment trust Vornado Realty Trust said Tuesday its third-quarter funds from operations more than doubled due to increased net income and higher revenue.
Funds from operations plus assumed conversions climbed to $204.5 million, or $1.31 per share, from $93.3 million, or 65 cents per share, in the year-ago period.
Adjusted FFO grew to $192 million, or $1.23 per share, from $154.1 million, or $1.07 per share.
FFO, a widely used gauge of real estate operating performance, adds depreciation and amortization expenses, as well as other non-operating items, back to net income.
Analysts polled by Thomson Financial were expecting FFO of $1.25 per share.
Funds from operations plus assumed conversions climbed to $204.5 million, or $1.31 per share, from $93.3 million, or 65 cents per share, in the year-ago period.
Adjusted FFO grew to $192 million, or $1.23 per share, from $154.1 million, or $1.07 per share.
FFO, a widely used gauge of real estate operating performance, adds depreciation and amortization expenses, as well as other non-operating items, back to net income.
Analysts polled by Thomson Financial were expecting FFO of $1.25 per share.
posted by Stock Administrator @ 3:03 PM
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