Alexander's

Alexander's, Inc. operates as a real estate investment trust. The firm engages in leasing, managing, development and redeveloping its properties. Its operating properties are located in the greater New York City metropolitan area. The company was founded on May 16, 1955 and is headquartered in Paramus, NJ.

Earnings data Q1 2021

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Earnings data Q4 2024

Alexander's (ALX) reports strong 2022 performance amidst Fed rate challenges

ALX navigated a strong year in 2022 but faces challenges in 2023 due to Fed rate increases impacting business and consumers. The company's focus on New York City and strategic financial decisions position it well for future opportunities. Active negotiations with tenants and ongoing market assessments will be key for ALX's performance.

Vornado Realty Trust navigates challenges, eyes growth in leasing dynamics

Alexander's (ALX) Q1 2023 earnings call highlighted challenges in comparable FFO due to higher interest expenses, alongside strong leasing activity in key sectors.
Vornado Realty Trust emphasized confidence in their financial position, with a focus on selective asset sales and refinancing efforts to maintain a strong balance sheet.
Discussions centered on office market sentiment, asset sales, and strategies for creating shareholder value, highlighting opportunities in leasing dynamics and tenant experience improvements.
The company faces challenges in managing higher interest expenses, market uncertainties, and the transition to post-pandemic office norms, while leveraging opportunities in revenue growth and strategic financial planning.

Alexander's reports robust Q2 performance amidst labor market challenges

ALX's Q2 performance was strong despite challenges in the labor market and lower FFO compared to the previous year.
The company's strategic focus on cash conservation, asset sales, and balance sheet strength positions it well for future growth.
Opportunities lie in rebounding occupancy rates, strong leasing activity in New York, and maintaining shareholder value amidst market challenges.

Vornado Realty Trust resilient in tough markets, eyes growth opportunities

Vornado Realty Trust shows resilience amidst market challenges, with strong leasing activity and strategic growth initiatives.
Challenges in financing markets and debt management require careful navigation, but opportunities in leasing and sustainability are promising.
Stable operations, recognition for sustainability efforts, and a focus on core markets position Vornado for long-term success.
Despite headwinds, Vornado remains optimistic about future growth and is actively managing challenges to drive performance.

Alexander's (ALX) reports resilient Q4 performance amidst interest rate challenges

Alexander's (ALX) navigated Q4 2023 well, leveraging its strong leasing performance and balance sheet strength. Despite challenges from interest rates and market tightening, the company remains optimistic about future growth opportunities in NYC.

Alexander's Q1 2024: Challenges in Financial Performance Amid Lease Renewals

Alexander's Q1 2024 saw financial challenges due to higher expenses and vacancies, with a focus on debt reduction and lease backfilling.
Renewed leases with Vornado Realty Trust and ongoing leasing activity in prime locations highlight revenue stability and growth potential.
Tightened debt covenant metrics and occupancy dips at key properties pose challenges, while opportunities lie in market recovery and asset conversion.
Overall, Alexander's is navigating financial headwinds with strategic initiatives to enhance stability, revenue growth, and asset optimization.

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Alexander's, Inc. is a real estate investment trust company, which engages in leasing, managing, developing, and redeveloping its properties. Its operating properties are located in the greater New York City metropolitan area. The company was founded on May 16, 1955 and is headquartered in Paramus, NJ.

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Alexander's (ALX) came out with quarterly funds from operations (FFO) of $4.99 per share, missing the Zacks Consensus Estimate of $5.95 per share. This compares to FFO of $4.03 per share a year ago.

Alexander's (ALX) Lags Q4 FFO Estimates

PARAMUS, N.J., Feb. 12, 2024 (GLOBE NEWSWIRE) -- ALEXANDER'S, INC. (New York Stock Exchange: ALX) filed its Form 10-K for the year ended December 31, 2023 today and reported:

Alexander's Announces Fourth Quarter Financial Results

Alexander's, Inc. is a REIT that owns and manages 5 retail properties in New York City. The REIT's operating performance is concerning, with low occupancy rates and minimal revenue growth. There are also risks associated with portfolio concentration, significant tenant dependency, and upcoming mortgage maturities.

Alexander's: A Lot Of Risks For A Small Discount

PARAMUS, N.J., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Alexander's, Inc. (NYSE: ALX) today announced that it will file its annual report on Form 10-K for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission and issue its fourth quarter and full year earnings release on Monday, February 12, 2024, before the New York Stock Exchange opens.

Alexander's Announces Fourth Quarter Earnings Release Date, Anticipated Common Stock Declaration Dates and Vornado Realty Trust Quarterly Conference Call

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Alexander's fiscal 2023 third quarter FFO dipped heavily from its year-ago comp. This has put at risk a historically stable payout as the dividend coverage now stands at 81%. A large cash position means ALX can sustain its dividend payments for years, but it faces upcoming debt maturities that will require refinancing.

Alexander's 10% Yield Seems Compelling But Faces Headwinds

Alexander's Inc. (NYSE:ALX ) Q3 2023 Results Conference Call October 31, 2023 10:00 AM ET Company Participants Steve Borenstein - Senior VP, Corporation Counsel and Secretary Steven Roth - Chairman of the Board and CEO Michael Franco - President and CFO Glen Weiss - Executive VP of Office Leasing and Co-Head of Real Estate Thomas Sanelli - Executive Vice President Finance and Chief Administrative Officer Conference Call Participants Steve Sakwa - Evercore ISI Camille Bonnel - BOA Michael Griffin - Citi Alex Goldfarb - Piper Sandler Dylan Burzinski - Green Street John Kim - BMO Capital Markets Anthony Paolone - JPMorgan Julien Blouin - Goldman Sachs Vikram Malhotra - Mizuho Nick Yulico - Scotiabank Ron Kamden - Morgan Stanley Operator Good morning, and welcome to the Vornado Realty Trust Third Quarter 2023 Earnings Call. My name is Rocco, and I will be your operator for today's call.

Alexander's Inc. (ALX) Q3 2023 Earnings Call Transcript

Alexander's (ALX) came out with quarterly funds from operations (FFO) of $3.63 per share, beating the Zacks Consensus Estimate of $3.42 per share. This compares to FFO of $4.40 per share a year ago.

Alexander's (ALX) Beats Q3 FFO and Revenue Estimates

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Office REITs in urban areas with long commutes will likely continue to struggle due in large measure to the WFH trend. Alexander's Inc. owns 5 properties in the New York metropolitan area, including the world headquarters of Bloomberg. Shares in ALX have been losing value for nearly 10 years and revenues are declining significantly.

Alexander's, Inc.: The Needle Is Pointing Down

Alexander's, Inc. (NYSE:ALX ) Q2 2023 Earnings Conference Call August 1, 2023 10:00 AM ET Company Participants Steve Borenstein - Senior Vice President & Corporate Counsel Steven Roth - Chairman & Chief Executive Officer Michael Franco - President & Chief Financial Officer Glen Weiss - Executive Vice President, Office Leasing & Co-Head of Real Estate Conference Call Participants Steve Sakwa - Evercore ISI Camille Bonnel - Bank of America Alexander Goldfarb - Piper Sandler Julien Blouin - Goldman Sachs Anthony Paolone - JPMorgan Nick Yulico - Scotiabank Ronald Kamdem - Morgan Stanley Operator Good morning, and welcome to the Vornado Realty Trust Second Quarter 2023 Earnings Call. My name is Gary and I will be your operator for today's call.

Alexander's, Inc. (ALX) Q2 2023 Earnings Call Transcript

Alexander's (ALX) came out with quarterly funds from operations (FFO) of $3.55 per share, beating the Zacks Consensus Estimate of $3.51 per share. This compares to FFO of $4.32 per share a year ago.

Alexander's (ALX) Q2 FFO and Revenues Top Estimates

PARAMUS, N.J., May 19, 2023 (GLOBE NEWSWIRE) -- Alexander's, Inc. (NYSE: ALX) announced today that it has completed the previously announced sale of the Rego Park III land parcel adjacent to its Rego Park II shopping center, located in Queens, New York, for $71 million inclusive of consideration for Brownfield tax benefits and reimbursement of costs for plans, specifications and improvements to date.   The property consists of 670,000 buildable square feet located in an Opportunity Zone, vested for the 421a Affordable New York Housing Program and eligible to receive Brownfield tax credits.   There will be a financial statement gain of approximately $54 million.

Alexander's Completes Sale of Rego Park III

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Alexander's name dates back to a retail store that went bankrupt. The REIT has built rental properties where it used to operate stores.

Why Is Alexander's Dividend So High?

Alexander's is now paying out a 10.65% dividend yield on the back of a 24% year-to-date pullback of its common shares. FFO per share fell by $0.62 over its year-ago comp as interest expenses moved up 177.5% year-over-year.

Alexander's: 10.65% Dividend Yield Looks Less Immovable

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News for Alexander's Stock (ALX)