Investing.com - Vornado reported on Monday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Vornado announced earnings per share of $0.16 on revenue of $442.13M. Analysts polled by Investing.com anticipated EPS of $0.0942 on revenue of $427.95M.
Vornado shares are down 9% from the beginning of the year, still down 25.57% from its 52 week high of $50.91 set on June 8, 2021. They are outperforming the S&P 500 which is down 12.82% from the start of the year.
Vornado shares gained 2.77% in after-hours trade following the report.
Vornado follows other major Real Estate sector earnings this month
Vornado's report follows an earnings beat by Prologis on April 19, who reported EPS of $1.54 on revenue of $1.08B, compared to forecasts EPS of $0.6806 on revenue of $1.08B.
American Tower had beat expectations on Wednesday with first quarter EPS of $1.56 on revenue of $2.6B, compared to forecast for EPS of $1.11 on revenue of $2.6B.
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