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Third Avenue Management Expects Positive Performance from Vornado Realty (VNO)


Third Avenue Management Expects Positive Performance from Vornado Realty (VNO)
Third Avenue Management, a disciplined, value-oriented asset manager and investment fund, published its third-quarter 2020 Investor Letter – a copy of which can be downloaded here. A return of 10.94% was recorded by the fund for the 3rd Quarter of 2020, ahead of its FTSE EPRA NAREIT Developed benchmark that returned 10.32%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.
Third Avenue Management in their Q3 2020 Investor Letter said that they were able to distinguish a value in  Vornado Realty Trust (NYSE: VNO) and initiated a position in the company. Vornado Realty Trust is a real estate investment trust that currently has a $7 billion market cap. For the past 3 months, VNO delivered a 13.38% return and settled at $38.56 per share at the closing of January 15th. ....

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