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Operator
Good morning, and welcome to the Vornado Realty Trust first-quarter 2021 earnings call. My name is Vanessa, and I will be your operator for today s call. This call is being recorded for replay purposes. [Operator instructions] I will now turn the call over to Ms.
Cathy Creswell, director of investor relations. Please go ahead.
Cathy Creswell
Director of Investor Relations
Thank you. Welcome to Vornado Realty Trust first-quarter earnings call. Yesterday afternoon, we issued our first-quarter earnings release and filed our quarterly report on Form 10-Q with the Securities and Exchange Commission. These documents, as well as our supplemental financial information package are available on our website, www.vno.com, under the investor relations section.
Vornado’s Steve Roth with Penn1, Penn 2 and the Farley Building (Getty, VNO)
With a post-pandemic economic recovery on the horizon, Vornado Realty Trust CEO Steve Roth is excited for the future but a bit disappointed at the lack of distress in the market.
While the real estate investment trust has been able to take advantage of previous downturns to find unique value-add opportunities, things haven’t worked out that way in this cycle, Roth said on Tuesday’s first quarter earnings call.
“This has been kind of a weird period,” Roth said. “We’ve gone through a Covid-caused recession, and it really didn’t hurt our main businesses in terms of our occupancies.” But Roth said the slowdown of income streams like signage and parking caused a $200 million hit to the company’s income.
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