Stock Monitor: Douglas Emmett Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 05, 2017 / Active-Investors free earnings report on Vornado Realty Trust (NYSE: VNO) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=VNO. The Company posted its financial results on October 30, 2017, for the third quarter fiscal 2017. The real estate investment trust's revenue and funds from operations (FFO) per share surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is currently working on the research report for Douglas Emmett, Inc. (NYSE: DEI), which also belongs to the Financial sector as the Company Vornado Realty Trust. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Vornado Realty Trust most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=VNO

Earnings Highlights and Summary

For three months ended September 30, 2017, Vornado's total revenues increased 5.2% to $528.76 million from $502.75 million in Q3 FY16. The Company's total revenue surpassed analysts' expectations of $527.8 million.

During Q3 FY17, Vornado's earnings before interest, tax, depreciation, and amortization (EBITDA) decreased 40.5% to $236.75 million from $398.01 million in the same period last year. For the reported quarter, the Company's net operating income (NOI) decreased 9.8% to $346.24 million from $383.88 million in Q3 FY16.

During Q3 FY17, Vornado's operating income increased 9.3% to $162.24 million from $148.46 million in the same period last year. During Q3 FY17, the Company's operating margin increased 120 basis points to 30.7% of revenue from 29.5% of revenue in the same period last year.

For the reported quarter, Vornado's net loss was $29.03 million compared to net income of $66.13 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS was negative $0.15 compared to positive $0.35 in the same period last year. For the reported quarter, Vornado's adjusted net income increased 42.1% to $68.23 million from $48.01 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 44% to $0.36 from $0.25 in the same period last year.

For the reported quarter, the Company's FFO decreased 55.6% to $100.18 million from $225.53 million in Q3 FY16. During Q3 FY17, the Company's FFO per share decreased 56.3% to $0.52 from $1.19 in the same period last year. For the reported quarter, the Company's adjusted FFO increased 7.3% to $188.99 million on a y-o-y basis from $176.22 million in Q3 FY16. During Q3 FY17, the Company's adjusted FFO per share increased 6.5% to $0.99 on a y-o-y basis from $0.93 in the same period last year. The FFO per share surpassed analysts' expectations of $0.51.

Vornado's Segment Details

New York - During Q3 FY17, Vornado's New York segment's revenue was $453.61 million. For the reported quarter, the segment's same-store occupancy was 96.9% compared to 95.8% in the same period last year. For the reported quarter, the segment's 452,000 square feet of office space and 51,000 square feet of retail space were leased. For the reported quarter, the segment's adjusted EBITDA increased 7.3% to $297.18 million from $276.89 million in Q3 FY16. For the reported quarter, the segment's adjusted NOI increased 13.6% to $280.04 million from $246.59 million in Q3 FY16.

Other - During Q3 FY17, Other segment's total revenue was $75.15 million. For the reported quarter, the segment's adjusted EBITDA decreased 21.8% to $30.37 million from $38.84 million in Q3 FY16. For the reported quarter, the segment's adjusted NOI decreased 16.7% to $49.93 million from $59.91 million in Q3 FY16.

Balance Sheet

As on September 30, 2017, Vornado's cash and cash equivalents decreased 14.6% to $1.28 billion from $1.50 billion on December 31, 2016. For the reported quarter, the Company's net mortgage payable increased 0.2% to $8.13 billion from $8.11 billion in Q4 FY16.

For the reported quarter, the Company's net trade and other receivables decreased 10.3% to $54.77 million from $61.07 million in the fourth quarter of 2016. Vornado's accounts payables and accrued expenses increased 3.8% to $412.10 million in Q4 FY17 from $397.13 million in Q4 FY16.

Stock Performance Snapshot

December 04, 2017 - At Monday's closing bell, Vornado Realty Trust's stock was slightly down 0.77%, ending the trading session at $77.32.

Volume traded for the day: 2.25 million shares, which was above the 3-month average volume of 1.07 million shares.

Stock performance in the last month ? up 4.44%; previous three-month period ? up 3.99%; and past twelve-month period ? up 4.84%

After yesterday's close, Vornado Realty Trust's market cap was at $14.55 billion.

Price to Earnings (P/E) ratio was at 18.40.

The stock has a dividend yield of 3.10%.

The stock is part of the Financial sector, categorized under the REIT - Diversified industry. This sector was up 0.5% at the end of the session.

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