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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, set to be paid on February 11, 2022. Stockholders of record by January 31, 2022 will receive this payment. The company operates as a real estate investment trust, managing six properties in the greater New York City area. This dividend reflects the company's ongoing commitment to returning value to its shareholders.
Alexander’s, Inc. (NYSE: ALX) announced the appointment of Gary Hansen as the new Chief Financial Officer, succeeding Matthew Iocco, who is retiring after 22 years. Hansen, previously Senior Vice President and Controller, brings over 20 years of experience in accounting and financial reporting. Iocco will assist with the transition until December 31, 2021. Alexander’s operates six properties in the greater New York City area, functioning as a real estate investment trust.
ALEXANDER’S, INC. (NYSE: ALX) reported strong financial results for Q3 2021, with net income increasing to $11.4 million ($2.22 per diluted share), up from $6.6 million ($1.29 per diluted share) in Q3 2020. Funds from operations (FFO) also rose to $21.2 million ($4.13 per diluted share) compared to $15.4 million ($3.00 per diluted share) in the prior year. For the nine months ended September 30, 2021, net income was $55.2 million ($10.77 per diluted share), a substantial increase from $23.5 million ($4.59 per diluted share) in 2020. Total FFO for the period reached $68.1 million ($13.29 per diluted share), up from $57.1 million ($11.15 per diluted share) in the same period last year.
ALEXANDER’S, Inc. (NYSE: ALX) has declared a quarterly dividend of $4.50 per share, scheduled for payment on November 19, 2021, to stockholders of record by November 8, 2021. The company, a real estate investment trust, manages six properties within the greater New York City area. This dividend announcement reflects the company’s commitment to returning value to its shareholders in the current economic climate.
Alexander's, Inc. (ALX) has announced it will release its third quarter earnings for the period ending September 30, 2021, on November 1, 2021, prior to market opening. The earnings conference call, organized by its manager Vornado Realty Trust (VNO), is scheduled for November 2, 2021 at 10:00 a.m. ET. Alexander's operates six properties in the New York City metropolitan area. Investors are advised to check for potential forward-looking statements regarding the company's future performance and risks including property improvements and the impact of COVID-19.
ALEXANDER'S, INC. (NYSE: ALX) reported strong financial results for Q2 2021, with a net income of $25.9 million or $5.05 per diluted share, up from $12.3 million or $2.41 in Q2 2020. The earnings included a $9.1 million gain from real estate sales. For the first half of 2021, net income reached $43.8 million, translating to $8.55 per diluted share, compared to $16.9 million or $3.30 in the prior year. Funds from operations also rose to $21.1 million, or $4.12 per share, from $18.0 million or $3.51 in 2020.
ALEXANDER'S, Inc. (NYSE: ALX) announced a regular quarterly dividend of $4.50 per share, payable on August 20, 2021, to stockholders of record on August 9, 2021. The announcement reflects the company's ongoing commitment to return value to shareholders. Alexander's, Inc. operates as a real estate investment trust with seven properties located in the New York City metropolitan area. This dividend signifies the company’s confidence in its fiscal health and operational stability.
Alexander's, Inc. (NYSE: ALX) will file its quarterly report for the period ending June 30, 2021, on August 2, 2021, prior to the NYSE opening. The company's manager, Vornado Realty Trust (NYSE: VNO), will host a quarterly earnings conference call on August 3, 2021, at 10:00 a.m. ET, where Alexander's performance may be discussed. The public can access the call by phone or via a webcast on Vornado's website. Alexander's operates seven properties in the greater New York City area.
ALEXANDER’S, INC. (ALX) announced the exercise of a purchase option by IKEA Property for its Paramus, New Jersey property, with an anticipated closing in Q4 2021. The purchase price is set at $75 million, and after repaying a $68 million mortgage, the company expects around $6 million in net cash proceeds. The projected financial gain from this transaction is approximately $60 million, with a tax gain of about $63 million. Alexander’s does not plan to distribute a special dividend from this sale.
ALEXANDER'S, INC. (NYSE: ALX) reported strong financial results for Q1 2021, with net income of $17.9 million ($3.49 per diluted share), a significant increase from $4.6 million ($0.89 per diluted share) in Q1 2020. Funds from operations (FFO) reached $25.8 million ($5.03 per diluted share), up from $23.7 million ($4.64 per diluted share) year-over-year. The company collected approximately 95% of the rent due from tenants during this period. Total revenue for Q1 2021 was $56.2 million, compared to $54.1 million in the same quarter last year.
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