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Wednesday, April 7, 2010 as of 11:14 AM ET

Vornado Realty Trust

    Vornado Realty Trust () is a New York based real estate investment trust. It is the inheritor of real estate formerly controlled by companies including Two Guys and Alexander's.

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    Get updates on Vornado Realty Trust
    Vornado Realty 1Q Net Slips 39% After Year-Ago Gains

    Vornado Realty Trust's (VNO) first-quarter earnings fell 39% as the commercial-property owner recorded a smaller profit from its stake in J.

    C. Penney Co. (JCP) and as gains on extinguishment of debt and other items boosted year-ago results.The real-estate investment trust posted mixed earnings results last year. The company owns and manages commercial properties around New York and the District of Columbia, markets that have remained strong over the past few years. However, the REIT's diversified holdings in companies such as J.C. Penney and Toys 'R' Us have yielded varying returns. Vornado holds a roughly 8.5% stake in J.C. Penney, according to FactSet Research. Vornado bought a stake in Toys 'R' Us in 2005, along with private-equity firms Bain Capital LLC and Kohlberg Kravis Roberts & Co., for $6.6 billion.Vornado reported a first-quarter profit of $251.5 million, down from $412.7 million, a year earlier. On a per-share basis, which includes the effect of preferred dividends, earning...

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