Vornado Realty Trust Q1 FFO Rises

(RTTNews) - Vornado Realty Trust (VNO) Monday reported first-quarter funds from operations of $247.1 million or $1.31 per share, up from $201.8 million or $1.08 per share last year.

On average, 11 analysts polled by Thomson Reuters expected FFO of $1.27 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted FFO for the quarter rose to $226.9 million or $1.20 per share from $211.6 million or $1.13 per share last year.

Net income attributable to common shareholders for the quarter dropped to $62.3 million or $0.33 per share from $232.0 million or $1.24 per share last year.

Adjusted net income dropped to $70.3 million or $0.37 per share from $74.1 million $0.40 per share last year.

Revenues for the quarter dropped to $660.6 million from $718.7 million last year. Analysts estimated revenues of $670.6 million for the period.