Welcome to our dedicated page for Alexander's news (Ticker: ALX), a resource for investors and traders seeking the latest updates and insights on Alexander's stock.
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) announced it will file its quarterly report on Form 10-Q for the quarter ending September 30, 2022, on October 31, 2022, before market opening. The report will provide insights into its performance during the quarter. Additionally, Vornado Realty Trust (NYSE: VNO) will host an earnings conference call on November 1, 2022, at 10:00 a.m. ET, where details relevant to Alexander's may be discussed. The access number for the call is 866-374-5140 (domestic) and 404-400-0571 (international).
ALEXANDER'S, INC. (ALX) announced its Q2 2022 financial results, reporting a net income of $14.8 million ($2.89 per diluted share), down from $25.9 million ($5.05 per share) in Q2 2021. This decline was attributed to a $9.1 million gain from real estate sales last year. For the first half of 2022, net income totaled $29.3 million ($5.73 per share), compared to $43.8 million ($8.55 per share) in 2021. Funds from operations (FFO) increased to $22.1 million ($4.32 per diluted share) in Q2, surpassing last year's $21.1 million ($4.12 per share). Total revenues were $49.8 million, down from $51.4 million.
Lionbridge Capital has issued an open letter to Alexander's Inc. (ALX) shareholders highlighting the company's significant underperformance and proposing strategies to enhance shareholder value. Lionbridge estimates ALX's Net Asset Value at over $425 per share, significantly higher than its current price. The letter outlines two main strategies: first, to internalize management with a dedicated leadership team focused on growth and capital optimization, and second, to explore a strategic review process, including a potential take-private transaction.
Alexander’s, Inc. (NYSE: ALX) announced a quarterly dividend of $4.50 per share, payable on August 19, 2022, to shareholders of record as of August 8, 2022. This dividend reflects the company's ongoing commitment to returning value to its investors. Alexander’s is a real estate investment trust with six properties located in the New York City metropolitan area.
ALEXANDER'S, INC. (NYSE: ALX) will file its quarterly report on Form 10-Q for the quarter ended June 30, 2022, on August 1, 2022, prior to market opening. Vornado Realty Trust (NYSE: VNO), managing Alexander’s operations, will conduct its quarterly earnings conference call on August 2, 2022, at 10:00 a.m. ET, discussing information related to Alexander’s. Investors can access the call via phone or through a live webcast on Vornado's website. Alexander’s operates six properties in the NYC metropolitan area.
ALEXANDER’S, INC. (NYSE: ALX) reported its Q1 2022 financial results on May 2, 2022. The company generated a net income of $14.5 million or $2.84 per diluted share, down from $17.9 million or $3.49 per diluted share in Q1 2021. Funds from operations (FFO) for the quarter were $21.8 million, equating to $4.25 per diluted share, compared to $25.8 million or $5.03 per diluted share a year earlier. The company's revenue was $49.2 million, a decrease from $56.2 million in the previous year.
Alexander's, Inc. (NYSE: ALX) has declared a quarterly dividend of $4.50 per share, payable on May 20, 2022, to shareholders of record as of May 9, 2022. This announcement reflects the company's ongoing commitment to delivering value to its shareholders.
Alexander's, Inc. operates as a real estate investment trust with six properties located in the New York City metropolitan area.
Alexander’s, Inc. (NYSE: ALX) will file its quarterly report on Form 10-Q for the period ending March 31, 2022, with the SEC and issue its earnings release on May 2, 2022. The quarterly earnings conference call hosted by Vornado Realty Trust (NYSE: VNO) will take place on May 3, 2022, at 10:00 a.m. ET, discussing performance and updates related to Alexander’s. The company operates six properties in the New York City area.
ALEXANDER’S, INC. (ALX) reported strong fourth-quarter results, with a net income of $77.7 million or $15.17 per diluted share for Q4 2021, up from $18.4 million or $3.60 per diluted share in Q4 2020. This included $63.2 million from real estate gains. For the year ended December 31, 2021, net income was $132.9 million or $25.94 per diluted share, a notable increase from $41.9 million or $8.19 per diluted share in 2020. Funds from operations for the year reached $89.8 million, or $17.52 per diluted share, up from $82.5 million.
Alexander’s, Inc. (NYSE: ALX) will file its annual report on Form 10-K for the year ended December 31, 2021, with the SEC and release its Q4 and full year earnings on February 14, 2022, before the NYSE opens. Vornado Realty Trust (NYSE: VNO), managing Alexander’s operations, will hold a quarterly earnings conference call on February 15, 2022, at 10:00 a.m. ET, discussing relevant information about Alexander’s. Information on accessing the call and the webcast is provided for investors.
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