Research Desk Line-up: Annaly Capital Management Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 14, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Vornado Realty Trust (NYSE: VNO), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=VNO, following the Company's release of its financial results on July 31, 2017, for the second quarter fiscal 2017 (Q2 FY17). The New York-based Company's adjusted Funds from Operations (FFO) per share rose on a year-over-year basis to outperform market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the REIT - Diversified industry. Pro-TD has currently selected Annaly Capital Management, Inc. (NYSE: NLY) for due-diligence and potential coverage as the Company announced on August 02, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Annaly Capital Management when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on VNO; also brushing on NLY. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=VNO

http://protraderdaily.com/optin/?symbol=NLY

Earnings Reviewed

During Q2 FY17, Vornado Realty's revenues rose to $626.04 million from $621.71 million in Q2 FY16. The Company generated $529.29 million of revenues from property rentals in Q2 FY17 compared to $527.18 million in the year ago same period. The tenant expense reimbursements during the reported quarter amounted to $60.69 million compared to $60.84 million in the prior year's corresponding quarter. Furthermore, Fee and Other Income grew to $36.06 million during Q2 FY17 from $33.69 million in Q2 FY16.

The real estate investment trust reported net income attributable to common stockholders of $115.97 million, or $0.61 per diluted share, in Q2 FY17 compared to $220.46 million, or $1.16 per diluted share, in Q2 FY16. Meanwhile, the Company's non-GAAP net income attributable to common stockholders increased to $81.95 million, or $0.43 per diluted share, in Q2 FY17 from $66.54 million, or $0.35 per diluted share, in the prior year's comparable quarter.

The Company's FFO for Q2 FY17 stood at $257.67 million, or $1.35 per diluted share, compared to $229.43 million, or $1.21 per diluted share, in Q2 FY16. Furthermore, the Company's adjusted FFO improved to $237.89 million, or $1.25 per share, during Q2 FY17 from $225.01 million, or $1.19 per share, reported in the previous year's comparable quarter. Additionally, Wall Street had expected the Company to report adjusted FFO of $1.26 per diluted share.

Earnings Metrics

Vornado Realty's total expenses increased to $442.64 million in Q2 FY17 from $434.89 million in Q2 FY16. For Q2 FY17, the Company's operating income was $183.40 million, rising from $186.81 million in Q2 FY16. For the reported quarter, the Company's EBITDA came in at $426.93 million versus $561.21 million in the previous year's comparable period. Furthermore, net operating income (NOI) was $382.35 million for Q2 FY17 compared to $486.83 million in the previous year same period.

Segment Performance

In Q2 FY17, the Company's New York-based properties generated total revenues of $436.86 million, up from $425.77 million in the last year's comparable quarter. The segment's NOI stood at $257.22 million for Q2 FY17 compared to $390.08 million in the previous year same quarter. Furthermore, the segment's properties occupancy rate as on June 30, 2017, was 96.6%.

The Company's Washington, DC-based properties generate revenues of $118.34 million in Q2 FY17 compared to $127.47 million in Q2 FY16. For the reported quarter, the segment's NOI came in at $69.62 million versus $71.15 million in Q2 FY16. Additionally, the segment's properties occupancy rate as on June 30, 2017, stood at 90.9%.

Vornado Realty's Other Properties revenues contribution increased to $70.84 million in Q2 FY17 from $68.47 million in Q2 FY16. The segment's NOI also rose to $55.51 million in Q2 FY17 from $25.60 million in the prior year's comparable quarter.

Dividend

In a separate press release on July 27, 2017, Vornado Realty's Board of Directors declared a regular quarterly dividend of $0.60 per common share. The dividend will be payable on August 18, 2017, to common shareholders of record on August 07, 2017.

Cash Matters and Balance Sheet

Vornado Realty's net cash provided by operations was $316.22 million during the first half of FY17 compared to $318.81 million in the first six months of FY16. The Company ended the quarter with cash and cash equivalents balance of $1.47 billion versus $1.50 billion as on December 31, 2016.

Stock Performance

Vornado Realty Trust's share price finished last Friday's trading session at $75.73, sliding 1.19%. A total volume of 863.17 thousand shares have exchanged hands. The Company's stock price advanced 0.45% in the last three months. Shares of the Company have a PE ratio of 16.48 and have a dividend yield of 3.17%. The stock currently has a market cap of $14.52 billion.

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