Vornado Realty Trust 4Q Earnings Fall Short of Expectations -- Update

Data : 11/02/2019 @ 23:54
Fonte : Dow Jones News
Titolo : Vornado Realty Trust (VNO)
Quotazione : 67.06  0.07 (0.10%) @ 15:31
Quotazione Vornado Grafico

Vornado Realty Trust 4Q Earnings Fall Short of Expectations -- Update

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(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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