Vornado Realty Trust (VNO) reported strong third quarter 2009 results with FFO (funds from operations) of $234.2 million or $1.25 per share, compared to $159.8 million or 97 cents per share in the year-earlier quarter. Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. After adjusting items for comparability, FFO during the quarter was $1.18 per share, compared to $1.17 in the prior year quarter. Vornado is the largest publicly traded office REIT in the New York region. The core properties of the company are still performing at a high level and it is maintaining strong occupancies in its NYC office and retail portfolios. The company is also increasing rents in most property formats. We believe this puts the company well ahead of many competitors who have ...