Vornado Realty Trust 4Q Earnings Fall Short of Expectations -- Update
11 Febbraio 2019 - 11:54PM
Dow Jones News
(Adds net income.)
By Micah Maidenberg
Profit at Vornado Realty Trust (VNO) rose in the fourth quarter
but not as much as analysts expected.
The New York-focused developed and property owner reported
earnings rose to $113 million, or 53 cents a share, or $44.3
milion, or 14 cents a share, a year ago.
Net income attributable to common shareholders was $100.5
million, from $27.3 million a year ago.
The company said funds from operations--a profit metric that
excludes gains or losses on certain property sales, depreciation
and other expenses--increased to $1.10 a share in the fourth
quarter from 80 cents a share the year earlier.
Analysts polled by FactSet expected $1.12 a share of funds from
operations in the latest period.
Vornado said Monday that revenue rose 1% to $543.4 million in
the quarter, less than the $560 million analysts forecasted.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
February 11, 2019 17:39 ET (22:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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