Vornado Realty Trust (NYSE:VNO.PG) Q3 2016 Earnings Conference Call - Final Transcript
Nov 01, 2016 • 10:00 am ET
Good morning, and welcome to the Vornado Realty Trust Third Quarter 2016 Earnings Call. My name is Karen, and I'll be your operator for today's call. [Operator Instructions]
I will now turn the call over to Ms. Cathy Creswell, Director of Investor Relations. Please go ahead.
Thank you. Welcome to Vornado Realty Trust's third quarter earnings call. Yesterday afternoon, we issued our third quarter earnings release and filed our Quarterly Report on Form 10-Q with the Securities and Exchange Commission. We also issued a press release and investor presentation regarding the spin-off and merger of our Washington D.C business with JBG Companies. These documents as well as our supplemental financial information package are available on our website, www.vno.com.
In these documents and during today's call, we will discuss certain non-GAAP financial measures. Reconciliations of these measures to the most directly comparable GAAP measures are included in our earnings release, Form 10-Q and financial supplement. Please be aware that statements made during this call may be deemed forward-looking statements and actual results may differ materially from these statements due to a variety of risks, uncertainties and other factors. Please refer to our filings with the Securities and Exchange Commission including our Form 10-K for more information regarding these risks and uncertainties. The call may include time sensitive information that maybe accurate only as of today's date. The Company does not undertake a duty to update any forward-looking statements.
On the call today from management for our opening comments are Steven Roth, Chairman of the Board and Chief Executive Officer; David Greenbaum, President of the New York Division; Michael Franco, Executive Vice President and Chief Investment Officer; and Stephen Theriot, Chief Financial Officer. Also in the room are Mitchell Schear, President, Washington, D.C Division and Joseph Macnow, Executive Vice President and Chief Administrative Officer. Matt Kelly, a Managing Director of the JBG Companies and the Chief Executive Officer Designate of JBG Smith Properties is also with us.
I will now turn the call over to Steven Roth.
Thanks Cathy. Good morning, everyone. Welcome to Vornado's third quarter call. Before we begin, I'd like you all to go through our mega 64,000 square foot Victoria Secrets Flagship on Fifth Avenue opened a few days ago. I invite everyone to go take a look. It's an amazing retail emporium and the newest jewel in our high street retail crown.
We have a lot to talk about this morning. Here is how we will organize the call. First, David will cover our flagship New York business which after Washington spins out is as the bankers call it, RemainCo. Next CFO, Steve Theriot will cover a financial results and capital markets activity. Then I will discuss the transformative transaction we announced last evening the spin, merge of our Washington D.C. business with JBG. Then Chief Investment Officer, Michael Franco will take you through highlights of the Investor Deck we posted last night.
And finally, Matt Kelly, a Managing Partner of JBG and Chief Executive Officer Designate of