Alexander’s Announces First Quarter Financial Results
Rhea-AI Summary
Alexander’s (NYSE: ALX) reported results for the quarter ended March 31, 2026. Net income was $4.7 million, or $0.91 per diluted share, versus $12.3 million, or $2.40 per diluted share in Q1 2025. FFO (non-GAAP) was $13.4 million, or $2.60 per diluted share, versus $20.8 million, or $4.06 per diluted share in Q1 2025. Total revenues were $53.4 million for the quarter. The company owns five properties in New York City. The filing includes a reconciliation of net income to FFO and standard forward-looking statement disclosures.
Positive
- FFO (non-GAAP) of $13.4 million, or $2.60 per diluted share for Q1 2026
- Company maintains ownership of five New York City properties
Negative
- Net income declined ~62% to $4.7 million ($0.91 per share) in Q1 2026 versus $12.3 million in Q1 2025
- FFO fell ~36% to $13.4 million ($2.60 per diluted share) in Q1 2026 versus $20.8 million in Q1 2025
News Market Reaction – ALX
On the day this news was published, ALX declined 0.21%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
ALX is down 3.02% while key retail REIT peers show smaller mixed moves (e.g., CBL -3.35%, NTST -2.18%, BFS -0.52%, GTY -0.18%, ALEX flat), pointing to a more stock-specific reaction to its earnings.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 09 | Q4 2025 earnings | Negative | -11.1% | Reported lower Q4 2025 net income and FFO versus Q4 2024 levels. |
| Nov 03 | Q3 2025 earnings | Negative | +1.6% | Q3 2025 net income down year over year, while FFO was slightly higher. |
| Aug 04 | Q2 2025 earnings | Negative | -13.0% | Q2 2025 net income, FFO and revenues all declined versus Q2 2024. |
| May 05 | Q1 2025 earnings | Negative | -0.9% | Q1 2025 net income, revenues and FFO fell compared with Q1 2024. |
| Feb 10 | Q4 2024 earnings | Negative | -3.0% | Q4 2024 net income and FFO declined year over year, with lower revenues. |
Earnings releases often showed declining net income and FFO, with share price typically reacting negatively, indicating a pattern of downside sensitivity to weaker results.
Over the last several quarters, Alexander’s earnings releases have frequently highlighted declining net income and FFO across Q1–Q4 of 2024–2025, even as the REIT maintained its concentrated New York City portfolio. Market reactions to these earnings were usually negative, with four of five tagged events seeing share price declines within 24 hours. Today’s first-quarter 2026 results, which again show lower net income and FFO versus the prior year, fit into this broader trend of pressure on core operating metrics.
Historical Comparison
Earnings headlines have averaged a -5.26% one-day move, mostly negative. A modest reaction versus this baseline would be consistent with past selling pressure.
Across five recent earnings releases, Alexander’s has repeatedly reported year-over-year declines in net income and FFO, reinforcing a multi‑quarter pattern of softening fundamentals within its concentrated New York City REIT portfolio.
Market Pulse Summary
This announcement details first‑quarter 2026 results showing lower net income and FFO versus the prior year, extending a multi‑quarter trend highlighted in earlier earnings releases. Revenues and per‑share metrics also declined, emphasizing pressure on core operations. Investors might compare these figures with prior periods to gauge whether performance is stabilizing or weakening further, and monitor upcoming filings and tenant developments for signs of improving cash flow or additional strain.
Key Terms
funds from operations financial
ffo financial
non-gaap financial
nareit financial
depreciation and amortization financial
forward-looking statements regulatory
AI-generated analysis. Not financial advice.
PARAMUS, N.J., May 04, 2026 (GLOBE NEWSWIRE) -- ALEXANDER’S, INC. (New York Stock Exchange: ALX) filed its Form 10-Q for the quarter ended March 31, 2026 today and reported:
Net income for the quarter ended March 31, 2026 was
Funds from operations (“FFO”) (non-GAAP) for the quarter ended March 31, 2026 was
Alexander’s, Inc. is a real estate investment trust which has five properties in New York City.
CONTACT:
GARY HANSEN
(201) 587-8541
Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see "Risk Factors" in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2025. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments, the financial condition of our tenants, and general competitive factors.
| (tables to follow) ALEXANDER'S, INC. FINANCIAL RESULTS FOR THE QUARTERS ENDED MARCH 31, 2026 AND 2025 |
Below is a table of selected financial results.
| QUARTER ENDED MARCH 31, | |||||
| (Amounts in thousands, except share and per share amounts) | 2026 | 2025 | |||
| Revenues | $ | 53,412 | $ | 54,915 | |
| Net income | $ | 4,662 | $ | 12,312 | |
| Net income per common share - basic and diluted | $ | 0.91 | $ | 2.40 | |
| Weighted average shares outstanding - basic and diluted | 5,135,956 | 5,133,534 | |||
| FFO (non-GAAP) | $ | 13,364 | $ | 20,842 | |
| FFO per diluted share (non-GAAP) | $ | 2.60 | $ | 4.06 | |
| Weighted average shares used in computing FFO per diluted share | 5,135,956 | 5,133,534 | |||
The following table reconciles net income to FFO (non-GAAP):
| QUARTER ENDED MARCH 31, | |||||
| (Amounts in thousands, except share and per share amounts) | 2026 | 2025 | |||
| Net income | $ | 4,662 | $ | 12,312 | |
| Depreciation and amortization of real property | 8,702 | 8,530 | |||
| FFO (non-GAAP) | $ | 13,364 | $ | 20,842 | |
| FFO per diluted share (non-GAAP) | $ | 2.60 | $ | 4.06 | |
| Weighted average shares used in computing FFO per diluted share | 5,135,956 | 5,133,534 | |||
FFO is computed in accordance with the definition adopted by the Board of Governors of the National Association of Real Estate Investment Trusts (“NAREIT”). NAREIT defines FFO as GAAP net income or loss adjusted to exclude net gains from sales of certain real estate assets, real estate impairment losses, depreciation and amortization expense from real estate assets and other specified items, including the pro rata share of such adjustments of unconsolidated subsidiaries. FFO and FFO per diluted share are non-GAAP financial measures used by management, investors and analysts to facilitate meaningful comparisons of operating performance between periods and among our peers because it excludes the effect of real estate depreciation and amortization and net gains on sales, which are based on historical costs and implicitly assume that the value of real estate diminishes predictably over time, rather than fluctuating based on existing market conditions. FFO does not represent cash generated from operating activities and is not necessarily indicative of cash available to fund cash requirements and should not be considered as an alternative to net income as a performance measure or cash flow as a liquidity measure. FFO may not be comparable to similarly titled measures employed by other companies. A reconciliation of net income to FFO is provided above.
