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Alexander's Inc. (NYSE: ALX) is a prominent real estate investment trust (REIT) that focuses on leasing, managing, developing, and redeveloping properties in the greater New York City metropolitan area. The company boasts a portfolio of six key properties, all strategically located in New York City, which generate the entirety of its revenue. These revenues stem from leasing space to a diverse array of tenants, as well as parking and tenant services.
One of Alexander's most notable properties is the iconic 731 Lexington Avenue, a 56-story, 1.3-million-square-foot mixed-use tower. This landmark building is renowned for its elliptical courtyard and luminous crown, which serves as a beacon across Manhattan and Queens. 731 Lexington Avenue is home to Bloomberg LP's global headquarters, extending its lease through 2040, covering nearly one million square feet of office space. The tower also features approximately 250,000 square feet of retail space and luxury residential units known as One Beacon Court.
Alexander's Inc. also collaborates closely with Vornado Realty Trust, which manages its operations and holds a significant 32.4% stake in the company. Vornado also leases other esteemed properties in New York City, Chicago, and San Francisco. Alexander's Inc. has consistently demonstrated financial prudence and robust performance, as evidenced by its quarterly earnings reports.
For instance, in the third quarter of 2023, the company reported a net income of $10.8 million, translating to $2.10 per diluted share, and funds from operations (FFO) of $18.6 million, or $3.63 per diluted share. These financial metrics highlighted the company's resilience and capacity to generate stable income despite market volatilities.
Recently, Alexander's declared a regular quarterly dividend of $4.50 per share, reflecting its commitment to delivering value to shareholders. Additionally, the company continues to adapt to the evolving economic landscape, factoring in the impacts of interest rates and inflation on its operations and tenant base.
Alexander's Inc. remains a pivotal player in New York City's real estate market, with a forward-looking approach and strategic partnerships that ensure its properties remain attractive and competitive.
Alexander’s, Inc. (NYSE: ALX) has declared a quarterly dividend of $4.50 per share, scheduled for payment on May 19, 2023, to stockholders on record by May 8, 2023. This announcement reflects the company’s ongoing commitment to return value to shareholders. Alexander’s, Inc. operates as a real estate investment trust with a presence in the New York City metropolitan area, managing six properties. The press release highlights potential risks related to interest rate increases, inflation, and the ongoing impacts of the COVID-19 pandemic on business operations and tenant performance.
Alexander’s, Inc. (NYSE: ALX) announced it will file its quarterly report on Form 10-Q for the quarter ending March 31, 2023, on May 1, 2023, prior to the opening of the New York Stock Exchange.
Additionally, Vornado Realty Trust (NYSE: VNO), which manages Alexander’s operations, will hold its quarterly earnings conference call on May 2, 2023, at 10:00 a.m. ET. Investors can access this call by dialing 833-816-1409 (domestic) or 412-317-0502 (international), and a live webcast will be available through Vornado’s website.
Alexander's is a real estate investment trust with six properties in the New York City metropolitan area.
ALEXANDER'S, Inc. (NYSE: ALX) announced the sale of the Rego Park III land parcel for $71 million, which includes Brownfield tax benefits and reimbursement for improvement costs. The site, located in Queens, New York, has 670,000 buildable square feet and is situated in an Opportunity Zone, eligible for the 421a Affordable New York Housing Program and Brownfield tax credits. A financial statement gain of approximately $54 million is expected. The sale is subject to customary closing conditions and is anticipated to finalize in the second quarter of 2023.
ALEXANDER’S, INC. (ALX) filed its Form 10-K for the year ending December 31, 2022, revealing significant declines in financial performance. For Q4 2022, net income dropped to $13.2 million or $2.57 per diluted share, down from $77.7 million or $15.17 per diluted share in Q4 2021, influenced by substantial gains from real estate sales the prior year. Full-year net income also fell to $57.6 million or $11.24 per diluted share, compared to $132.9 million or $25.94 per diluted share in 2021. Funds from operations (FFO) for 2022 stood at $87.1 million, reflecting a decrease from $89.8 million in 2021.
Alexander’s, Inc. (NYSE: ALX) announced it will file its annual report on Form 10-K for the year ending December 31, 2022, and issue earnings results on February 13, 2023, before the NYSE opens. Vornado Realty Trust (NYSE: VNO), managing Alexander’s operations, will host a quarterly earnings call and audio webcast on February 14, 2023, at 10:00 a.m. ET, discussing relevant information about Alexander's. The company operates six properties in the New York City metropolitan area. The press release also includes forward-looking statements concerning potential risks from COVID-19, inflation, and interest rates affecting future performance.
ALEXANDER'S, INC. (NYSE: ALX) announced a quarterly dividend of $4.50 per share, payable on February 10, 2023. This dividend is for stockholders recorded as of January 30, 2023. Alexander’s operates as a real estate investment trust with six properties located in the New York City metropolitan area. The statement includes forward-looking risks such as the ongoing impact of the COVID-19 pandemic and economic factors like inflation and interest rates that could affect the company's performance.
ALEXANDER'S, INC. (ALX) announced its financial results for Q3 2022, reporting a net income of $15.1 million ($2.95/share), up from $11.4 million ($2.22/share) in Q3 2021. Funds from operations (FFO) increased to $22.5 million ($4.40/share) from $21.2 million ($4.13/share). For the nine months ending September 30, 2022, net income dropped to $44.5 million ($8.67/share) from $55.2 million ($10.77/share), while FFO decreased to $66.5 million ($12.96/share) from $68.1 million ($13.29/share). The company operates six properties in the New York City area.
ALEXANDER’S, INC. (NYSE: ALX) has declared a quarterly dividend of $4.50 per share, set for payment on November 18, 2022, to stockholders recorded by November 7, 2022. The company, a real estate investment trust with six properties in the New York City area, emphasizes this dividend as a signal of its financial stability and commitment to shareholder returns. Investors are encouraged to review potential risks associated with future performance and market conditions, including ongoing impacts from the COVID-19 pandemic.
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