Vornado Realty FFO Improves
Zacks.com submits:
Vornado Realty Trust (VNO), a leading real estate investment trust (REIT), reported first quarter 2010 FFO (funds from operations) of $353.8 million or $1.87 per share, versus $268.6 million or $1.65 per share in the year-earlier quarter. Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. After adjusting items for comparability, FFO during the quarter was $1.86 per share, compared to $1.75 in the prior-year quarter.
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