Vornado: Q4 Earnings Snapshot
By AP News
Published - Feb 12, 2024, 04:54 PM ET
Last Updated - Feb 12, 2024, 04:54 PM EST
NEW YORK (AP) — NEW YORK (AP) — Vornado Realty Trust (VNO) on Monday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The real estate investment trust, based in New York, said it had funds from operations of $123.8 million, or 63 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 59 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.
