Vornado: 2Q Earnings Snapshot

Associated Press
Updated ·1 min read

NEW YORK (AP) _ Vornado Realty Trust (VNO) on Monday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in New York, said it had funds from operations of $105.8 million, or 55 cents per share, in the period.

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 $197.8 million, or $1.03 per share.

The real estate investment trust posted revenue of $343 million in the period.

The company's shares have fallen 49% since the beginning of the year, while the Standard & Poor's 500 index has increased 2%. In the final minutes of trading on Monday, shares hit $34.02, a drop of 46% in the last 12 months.

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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