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People

Jonathan Litt

Jonathan Litt is founder and chief investment officer of Land & Buildings, an activist investment manager focused on publicly traded real estate companies and securities. His work combines fundamental property research with shareholder engagement intended to influence governance, capital allocation and operating strategy.

Updated

Known For

  • Founding Land & Buildings in 2008 after a career as a sell-side real estate analyst and strategist.
  • Leading shareholder campaigns at public real estate companies including BRE Properties, Associated Estates and MGM Resorts.
  • Building a global property research platform at Citigroup with analysts across 25 countries.

Career and Focus

Litt began his investment career in 1988 with European Investors and BrookHill Properties, working on public real estate securities and direct property. In 1994 he moved to the sell side, joining Citigroup as managing director and senior property analyst. He led global property investment strategy and coordinated a 44-person research team across 25 countries. Land & Buildings reports that he was ranked the top Institutional Investor real estate analyst for eight years and among the top five for 13 years. Those rankings refer to his analyst career, not investment returns.

Litt founded Land & Buildings in 2008 to invest in opportunities exposed by the global property bubble. The firm describes itself as an activist hedge fund dedicated to public real estate, using fundamental analysis and engagement with company boards. Its campaigns have sought strategic, governance or portfolio changes at REITs and other property businesses, including BRE Properties, Associated Estates and MGM Resorts. This approach gives Litt influence through public securities and shareholder advocacy rather than direct ownership of the operating companies. He earned a BA in economics from Columbia University and an MBA in finance from NYU Stern. The strategy has made him a prominent public voice on REIT management, property values and shareholder rights.

Related Pages

  • Investor People Hub
  • National Investor Benchmarks Hub
  • Land & Buildings Investment Management
  • Source: Top 200 Global CRE People and Families

Sources