Alexander’s Announces First Quarter Financial Results

Alexander’s (NYSE: ALX) reported results for the quarter ended March 31, 2026.

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

Argus May 4 session

-0.21% close to close Open Argus

Details

News Market Reaction – ALX

On May 4, the day this news came out, ALX closed 0.21% below the previous close.

Data tracked by StockTitan Argus for the May 4 session.

Key Figures

Q1 2026 net income: $4.7M Q1 2025 net income: $12.3M Q1 2026 EPS: $0.91 per diluted share +5 more

Q1 2026 net income

$4.7M

Quarter ended March 31, 2026

Q1 2025 net income

$12.3M

Quarter ended March 31, 2025

Q1 2026 EPS

$0.91 per diluted share

Quarter ended March 31, 2026

Q1 2025 EPS

$2.40 per diluted share

Quarter ended March 31, 2025

Q1 2026 revenues

$53.412M

Quarter ended March 31, 2026

Q1 2025 revenues

$54.915M

Quarter ended March 31, 2025

Q1 2026 FFO

$13.364M

FFO (non-GAAP) quarter ended March 31, 2026

Q1 2026 FFO/share

$2.60 per diluted share

FFO per diluted share, quarter ended March 31, 2026

Previous Earnings Reports

5 past events · Latest: Feb 09

Same Type 5 events

1. Feb 09

   Q4 2025 earnings

   24h Move

   -11.1%

   Reported lower Q4 2025 net income and FFO versus Q4 2024 levels.

2. Nov 03

   Q3 2025 earnings

   24h Move

   +1.6%

   Q3 2025 net income down year over year, while FFO was slightly higher.

3. Aug 04

   Q2 2025 earnings

   24h Move

   -13.0%

   Q2 2025 net income, FFO and revenues all declined versus Q2 2024.

4. May 05

   Q1 2025 earnings

   24h Move

   -0.9%

   Q1 2025 net income, revenues and FFO fell compared with Q1 2024.

5. Feb 10

   Q4 2024 earnings

   24h Move

   -3.0%

   Q4 2024 net income and FFO declined year over year, with lower revenues.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

funds from operations, ffo, non-gaap, nareit, +2 more

6 terms

funds from operations financial

"Funds from operations (“FFO”) (non-GAAP) for the quarter ended March 31, 2026"

Funds from operations (FFO) measures the cash a real estate-focused company generates from its core property operations by adjusting net income to add back non-cash expenses like building depreciation and removing one-time gains or losses from property sales. Investors use FFO like a household’s monthly take-home pay—it's a clearer view of ongoing cash available to pay dividends, maintain properties and fund growth than raw accounting profit.

View in glossary

ffo financial

"Funds from operations (“FFO”) (non-GAAP) for the quarter ended March 31, 2026"

Funds from operations (FFO) is a performance metric used mainly for real estate companies that measures the cash generated by their core rental and property-management activities, while removing accounting items such as building depreciation and one-time gains or losses from property sales. Investors rely on FFO to assess a real estate firm's ability to pay and sustain dividends and fund growth—similar to checking how much actual rent a landlord collects each month rather than paper profits.

non-gaap financial

"FFO (non-GAAP) for the quarter ended March 31, 2026 was $13.4 million"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

nareit financial

"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 is an organization that represents companies and investors involved in real estate investment trusts (REITs), which are companies that own and manage income-producing properties like shopping centers, apartments, or office buildings. It helps promote understanding and support for REITs, which can provide investors with regular income and a way to invest in real estate without buying property directly.

depreciation and amortization financial

"Depreciation and amortization of real property"

Depreciation and amortization are accounting methods that spread the cost of long-term assets over the years they help generate revenue: depreciation applies to physical items like equipment, while amortization applies to intangible items like patents or software. Investors watch these charges because they reduce reported profit without using cash right away, so comparing them to cash flow helps reveal whether earnings come from real business performance or just accounting allocation — like spreading the price of a car or a license over many years.

forward-looking statements regulatory

"Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 $4.7 million, or $0.91 per diluted share, compared to $12.3 million, or $2.40 per diluted share for the quarter ended March 31, 2025.

Funds from operations (“FFO”) (non-GAAP) for the quarter ended March 31, 2026 was $13.4 million, or $2.60 per diluted share, compared to $20.8 million, or $4.06 per diluted share for the quarter ended March 31, 2025.

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Alexander’s (ALX) reported net income and EPS for Q1 2026?

Net income was $4.7 million, or $0.91 per diluted share for Q1 2026. According to the company, this compares with $12.3 million, or $2.40 per diluted share for Q1 2025, with detailed per-share and share count figures in the 10-Q.

How much FFO did Alexander’s (ALX) report for the quarter ended March 31, 2026?

FFO (non-GAAP) was $13.4 million, or $2.60 per diluted share for Q1 2026. According to the company, the filing includes a reconciliation of GAAP net income to FFO and NAREIT-based definitions.

Did Alexander’s (ALX) revenue change in Q1 2026 versus Q1 2025?

Revenue was $53.4 million for Q1 2026, slightly below $54.9 million in Q1 2025. According to the company, the 10-Q presents the detailed revenue line items and comparative quarter figures.

What does the drop in ALX FFO and net income imply for shareholders in Q1 2026?

Q1 2026 shows lower reported net income and FFO versus year-ago quarter, without company guidance changes. According to the company, forward-looking risks and factors affecting results are described in the 10-Q and 2025 Form 10-K.

How many properties does Alexander’s (ALX) own and where are they located?

Alexander’s owns five properties located in New York City. According to the company, property ownership and related operational notes are summarized in the Form 10-Q and accompanying disclosures.