Vornado Realty Trust

Vornado Realty Trust

Vornado Realty Trust

Overview
Date Founded

1980

Headquarters

888 Seventh Avenue, New York, NY, 10019, USA

Type of Company

Public

Employees (Worldwide)

3,928

Industries

Trusts & Funds
Real Estate
Real Estate Investment Trusts

Company Description

Vornado Realty Trust (NYSE: VNO)("Vornado") is a fully-integrated real estate investment trust (REIT). Vornado is one of the largest owners and managers of commercial real estate in the United States with a portfolio of over 100 million square feet, primarily located in the New York and Washington, DC areas. Vornado's core businesses include New York Properties; Washington, DC Properties; and, Retail Properties in the northeast states, California and Puerto Rico.

Contact Data
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Executives & Employees

Chief Executive Officer

President

Executive Vice President, Chief Financial Officer & Chief Administrative Officer

Chief Accounting Officer

Vice Chairman

Executive Vice President, Retail

Chief Information Officer & Executive Vice President

General Manager

General Manager

Board of Trustees

Vice Chairman at Vornado Realty Trust

Senior Partner at Hughes Hubbard & Reed LLP

Partner at Greylock Partners

Managing Member & Owner at MDF Capital LLC

Dean Emeritus at New York University - Leonard N. Stern School of Business

Ownership Partner at Minnesota Vikings

Managing Director at BlackRock Financial Management, Inc.

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Owners & Shareholders
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Long Pond Capital focuses on identifying asymmetry, a material disconnect between stock price and intrinsic value, at the company level across a broad investable universe of real estate and real-estate-related securities. The firm's strategy is value-oriented, fundamentally-driven and maintains a private equity approach to public equity investing. In managing the funds' accounts, Long Pond implements a rigorous bottom-up research process and seeks to identify asymmetry in securities with significant downside protection.Long Pond's investments may include, but are not limited to: (i) assets trading at a discount to their underlying value; (ii) companies undergoing a change in capital structure, business plan, management or any other \"overhang\" that creates dislocation; (iii) well-capitalized companies that will profit from the current industry distress; (iv) attractively priced, high return on invested capital opportunities where growth is driven by real estate and real estate-related fundamentals; (vi) relative value opportunities, including REITS, where a static asset base combined with market volatility provides for low-risk trading between similar companies when market prices diverge; and (vi) catalyst-driven short opportunities including dividend cuts, projected earnings misses, overvalued companies with the potential to miss clinical targets and/or where management has publicized unrealistic expectations for future events. Finally, Long Pond employs an intense focus on liquidity, leverage and capital structure in order to maximize downside protection in volatile markets. ^

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Morgan Stanley Investment Management strives to provide outstanding long-term investment performance and best-in-class service to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. Their global structure leverages the breadth, depth and access of the Morgan Stanley franchise to provide their clients a comprehensive suite of investment management solutions.

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FMA utilizes a research driven, fundamental, value-oriented strategy for selecting investments. In choosing equity investments, the firm focuses on the market price of a company's securities relative to their evaluation of the company's asset value, including an analysis of book value, cash flow potential, long-term earnings and multiples of earnings of comparable securities of both public and private companies. Each investment is analyzed separately and there are no set criteria as to specific value parameters, asset size, earnings or industry type. Using a value-oriented strategy, each of the firm's funds invests mainly in undervalued stocks that are trading at a discount to their intrinsic value. To a lesser extent, their funds also invest in restructuring or distressed companies. FMA's funds are not limited to pre-set maximums governing the size of the companies in which they may invest. They invests the equity portion of its portfolio predominantly in mid- and large-cap companies, with the remaining portion of its equity portfolio in smaller companies.

Recent Transactions
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JBG SMITH Properties purchases JBG Cos. LLC /Certain Selected Assets from The JBG Companies LLC

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purchases JBG SMITH Properties from Vornado Realty Trust

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purchases Urban Edge Properties from Vornado Realty Trust

Transaction Advisors
Legal Advisor

Advised onVornado Realty Trust purchases Charles E. Smith Commercial Realty LP from Charles E. Smith Residential Realty, Inc.

Accountant

Advised onVornado Realty Trust purchases Vornado Office, Inc.

Auditor

Advised onVornado Realty Trust issued Common Stock

Legal Advisor

Advised onJBG SMITH Properties purchases JBG Cos. LLC /Certain Selected Assets from The JBG Companies LLC

Legal Advisor

Advised onJBG SMITH Properties purchases JBG Cos. LLC /Certain Selected Assets from The JBG Companies LLC

Associate

Advised onJBG SMITH Properties purchases JBG Cos. LLC /Certain Selected Assets from The JBG Companies LLC

Advisors & Consultants
Real Estate Agent

Executive Vice Chairman at Newmark Knight Frank

Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Legal Advisor

Partner at Venable LLP

Clients

Interpublic Group of Cos., Inc. engages in the provision of advertising and marketing services. The company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines. It operates through the following segments: Integrated Agency Network (IAN), Constituency Management Group (CMG), and Corporate and Other. The IAN segment includes advertising and media services, as well as a comprehensive array of global communications and marketing services. The CMG segment offers events and public relations services as well as sports and entertainment marketing, corporate and brand identity, and strategic marketing consulting. The Corporate and Other segment refers to the Acxiom activities. The company was founded on September 18, 1930 and is headquartered in New York, NY.

Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube. The Other Bets segment includes businesses such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo, and X. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.

Alexander's, Inc. is a real estate investment trust, which engages in leasing, managing, development and redeveloping its properties. Its operating properties are located in the greater New York City metropolitan area. The company was founded on May 16, 1955 and is headquartered in Paramus, NJ.

Key Stats and Financials As of 2018
Market Capitalization
$12B
Total Enterprise Value
$23.7B
Earnings Per Share
$2.01
Revenue
$2.37B
Net Profit
$449M
Total Debt
$10.3B
Total Equity
$5.89B
Enterprise Value Sales
10.02x
TEVNet Income
52.86x
Debt TEV
0.43x
EBITDAMargin
48.88%
Enterprise Value EBITDAOperating
20.5x
EBITDA
$1.16B
Three Year Compounded Annual Growth Rate Of Revenue
-3.99%
Five Year Compounded Annual Growth Rate Of Revenue
-2.28%
Non-Profit Donations & Grants
Political Donations
Investments
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Americold Realty Trust, Inc. is a real estate investment trust focused on the ownership, operation, development and acquisition of temperature-controlled warehouses. The company operates through following segments warehouse, third-party and transportation. The company was founded in 1931 and is headquartered in Atlanta, GA.

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LNR Property LLC develops and sells commercial and multi-family residential real estate properties. It owns and manages a portfolio of real estate properties and real estate finance investments. The firm acquires portfolios and its assets which include rental apartment communities, office buildings, industrial warehouse facilities, retail centers, hotels and land. The company was founded in 1969 and is headquartered in Miami Beach, FL.

Investors
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President of United States

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Director at Office of American Innovation Under Donald Trump

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President at Newmark Knight Frank

Suppliers
SP Plus Corp. Other Business & Consulting Services | Chicago, IL

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.

Skanska AB Real Estate | Stockholm, AB

Skanska AB engages in the development and construction business. It operates through the following segments: Construction, Residential Development, Commercial Property Development, and Infrastructure Development. The Construction segment builds and renovates buildings, industrial facilities, infrastructure, and residences. The Residential Development segment develops residential properties close to services, recreational facilities and good transport links. The Commercial Property Development segment focuses on healthy, green, and efficient offices and properties. The Infrastructure Development segment deals with public private partnership, which engages in developing, financing, building, operating and maintaining public facilities such as large hospitals, schools, airports and highways. The company was founded by Rudolf Fredrik Berg in 1887 and is headquartered in Stockholm, Sweden.

Competitors
Equity Residential Trusts & Funds - Chicago, Illinois

Equity Residential operates as a real estate investment trust, which engages in the acquisition, development, and management of rental apartment properties. The company was founded by Robert H. Lurie and Sam Zell in March 1993 and is headquartered in Chicago, IL.

Public Storage Trusts & Funds - GLENDALE, CA

Public Storage built its first self-storage facility in 1972. Today it operates over 2,200 unique and diverse company-owned locations in the United States and Europe, totaling more than 142 million net rentable square feet of real estate. Its PS Business Parks interest adds another 28 million(approx.) rentable square feet of commercial and industrial space. Based on number of tenants, Public Storage is among the largest landlords in the world. Given its long and successful history, its presence in major markets, its customer focus and its leadership position in the self-storage industry, Public Storage is a respected and trusted operator of self-storage facilities. Public Storage is a member of the S&P 500 and FT Global 500. Common and preferred stock for Public Storage trade on the New York Stock Exchange.

Simon Property Group, Inc. Trusts & Funds - Indianapolis, Indiana

Simon Property Group, Inc. operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in December 1993 and is headquartered in Indianapolis, IN.

Awards & Honors
Rank #833
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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