The REIT space is heating up as investors turn to stable cashflow-generating real estate assets due to fears of an impending economic downturn.
Vornado is a Class-A REIT operator in the segment with a long track record and proven management.
Vornado is currently underappreciated by Wall Street, which in particular is not taking into effect the potential of its flagship Penn Development.
The balance sheet is rock solid with average debt maturity over three years and strong cash in hand and revolver facility for urgent cash needs.
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