NEW YORK (AP) — NEW YORK (AP) — $Vornado Realty Trust(VNO-N)$ (VNO) on Monday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The New York-based real estate investment trust said it had funds from operations of $102.8 million, or 52 cents per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 51 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 a loss of $19.2 million, or 10 cents per share.
The real estate investment trust, based in New York, posted revenue of $443.3 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $440.7 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
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