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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, payable on May 21, 2021, to shareholders of record on May 10, 2021. This announcement reassures investors of the company's commitment to return value while managing its portfolio of seven properties in the greater New York City area.
Furthermore, potential risks affecting future performance include property improvement costs, tenant financial health, and the continuing impact of the COVID-19 pandemic.
ALEXANDER’S, Inc. (NYSE: ALX) will file its quarterly report on Form 10-Q for the period ending March 31, 2021, with the SEC and release earnings on May 3, 2021, before NYSE opens. Vornado Realty Trust (NYSE: VNO), managing Alexander’s operations, will conduct a conference call on May 4, 2021, at 10:00 a.m. ET to discuss earnings. The call can be accessed at 888-771-4371 (domestic) or 847-585-4405 (international), using passcode 50145196. Alexander’s operates seven properties in the NYC area.
ALEXANDER’S, INC. (ALX) reported its financial results for Q4 and the year ended December 31, 2020. Net income for Q4 2020 was $18.4 million ($3.60 per share), an increase from $14.4 million ($2.82 per share) in Q4 2019. Funds from operations (FFO) for Q4 2020 reached $25.4 million ($4.96 per share), up from $24.6 million ($4.81 per share) in the same quarter previous year. However, net income for the full year decreased to $41.9 million ($8.19 per share) from $60.1 million ($11.74 per share) in 2019. FFO for the year fell to $82.5 million ($16.11 per share) from $99.7 million ($19.47 per share) in 2019.
Alexander’s, Inc. (NYSE: ALX) will file its annual report on Form 10-K for the fiscal year ending December 31, 2020, on February 16, 2021, prior to the NYSE opening. The company, managed by Vornado Realty Trust (NYSE: VNO), will also announce its fourth quarter and full-year earnings on this date. A quarterly earnings conference call will be held on February 17, 2021, at 10:00 a.m. ET, discussing key financial metrics and operational updates for Alexander's, which operates seven properties in the New York City area.
Alexander’s, Inc. (NYSE: ALX) declared a quarterly dividend of $4.50 per share, to be paid on February 12, 2021, to stockholders on record as of February 1, 2021. This dividend reflects the company’s ongoing commitment to return value to its shareholders. As a real estate investment trust, Alexander's owns seven properties in the greater New York City area, contributing to its financial stability.
ALEXANDER’S, INC. (ALX) reported its Q3 2020 results, showing a net income of $6.6 million or $1.29 per diluted share, down from $16.5 million or $3.22 a year ago. Funds from operations (FFO) for Q3 2020 were $15.4 million or $3.00 per diluted share, compared to $25.2 million or $4.92 in Q3 2019. For the nine months ended September 30, 2020, net income was $23.5 million (or $4.59 per diluted share), down from $45.6 million (or $8.92) the previous year. Approximately 95% of rent was collected for Q3 2020.
ALEXANDER'S, INC. (NYSE: ALX) has declared a quarterly dividend of $4.50 per share, to be paid on November 20, 2020. Stockholders on record by November 9, 2020 will be eligible. This announcement reinforces the company's commitment to returning value to its shareholders. Alexander’s operates seven properties in the greater New York City area, solidifying its position in a prime real estate market.
ALEXANDER’S (NYSE: ALX) has secured a $94 million financing for The Alexander, a 312-unit residential project in Rego Park, Queens. This interest-only loan has a fixed rate of 2.63% and matures in November 2027. The property is part of a larger complex developed by the company. Alexander’s, a real estate investment trust, operates seven properties in the greater New York City area.
ALEXANDER’S, INC. (NYSE: ALX) will hold a quarterly earnings conference call on November 4, 2020, at 10:00 a.m. ET. The call, managed by Vornado Realty Trust (NYSE: VNO), will discuss key information regarding Alexander’s operations. Investors can join the call by dialing 888-771-4371 domestically or 847-585-4405 internationally, using passcode 49978074. A live webcast will also be available on Vornado's website. Alexander’s is a real estate investment trust with seven properties in the New York City metropolitan area.
ALEXANDER'S, INC. (ALX) has amended a $350 million mortgage loan on its retail condominium at 731 Lexington Avenue, reducing the principal to $300 million. The maturity date has been extended to August 2025, and the company guarantees interest payments and certain leasing costs. The loan, which remains interest-only at LIBOR plus 1.40% (currently 1.55%), is non-recourse to the company. The company operates seven properties in the greater New York City area.
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