Alexander’s Announces Fourth Quarter Financial Results
Rhea-AI Summary
Alexander’s (NYSE:ALX) filed its 2025 Form 10-K and reported fourth-quarter and full-year results. Q4 2025 net income was $3.8M ($0.74/share) versus $12.3M ($2.39) in Q4 2024. Q4 FFO was $12.5M ($2.43/share) versus $20.8M ($4.06).
For the year, 2025 net income was $28.2M ($5.50/share) and FFO was $63.0M ($12.27/share), down from 2024. The company remains a REIT owning five New York City properties.
Positive
- FFO of $62.995M for year ended December 31, 2025
- FFO per diluted share of $12.27 in 2025
- Net income remained positive at $28.224M for full-year 2025
Negative
- Full-year FFO declined by 19% from $77.968M in 2024 to $62.995M in 2025
- Full-year net income declined by 35% from $43.444M in 2024 to $28.224M in 2025
- Quarterly FFO fell by 40% from $20.845M in Q4 2024 to $12.471M in Q4 2025
Key Figures
Market Reality Check
Peers on Argus
ALX slipped 0.25% while close peers were mixed: BFS -0.51%, GTY -1.75%, NTST -1.28%, CBL +0.08%, ALEX 0.00%, pointing to a stock-specific reaction.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 03 | Q3 2025 earnings | Neutral | +1.6% | Mixed quarter with slightly lower net income but higher FFO vs 2024. |
| Aug 04 | Q2 2025 earnings | Negative | -13.0% | Net income and FFO declined year over year alongside lower revenues. |
| May 05 | Q1 2025 earnings | Negative | -0.9% | Revenue, net income and FFO all fell compared with Q1 2024. |
| Feb 10 | Q4 2024 earnings | Negative | -3.0% | Q4 and full-year 2024 net income and FFO declined versus 2023. |
| Nov 04 | Q3 2024 earnings | Negative | -2.0% | Quarter showed lower net income and FFO than the prior year period. |
Recent earnings releases often showed declining net income and FFO vs prior-year periods, typically met with negative or modest share-price reactions.
Over the past year, Alexander’s reported multiple quarters of year-over-year declines in net income and FFO, as seen in Q1–Q3 2025 and Q4 2024. These earnings events often highlighted softer revenues and lower profitability metrics compared with prior-year periods, with average post-earnings moves around -3% to -4%. Today’s Q4 and full-year 2025 results, with lower net income and FFO than 2024, continue that trend, reinforcing a narrative of pressured fundamentals within its five-property New York City REIT portfolio.
Historical Comparison
Across the last 5 earnings releases, ALX’s average 24-hour move was -3.45%, and those reports similarly featured year-over-year declines in net income and FFO.
Earnings from Q3 2024 through Q4 2025 generally show a pattern of declining net income and FFO versus prior-year quarters, indicating sustained fundamental pressure.
Market Pulse Summary
This announcement details Q4 and full-year 2025 results showing reduced net income and FFO versus 2024, extending a trend of softer earnings across recent quarters. Investors following Alexander’s may focus on revenue trajectory, FFO per share, and tenant concentration as highlighted in prior filings. Monitoring subsequent quarters for stabilization or improvement in these metrics, alongside occupancy and refinancing developments, will be important in assessing how durable the REIT’s current cash flows remain.
Key Terms
funds from operations financial
ffo financial
non-gaap financial
real estate investment trust financial
form 10-k regulatory
forward-looking statements regulatory
nareit financial
AI-generated analysis. Not financial advice.
PARAMUS, N.J., Feb. 09, 2026 (GLOBE NEWSWIRE) -- ALEXANDER’S, INC. (New York Stock Exchange: ALX) filed its Form 10-K for the year ended December 31, 2025 today and reported:
Fourth Quarter 2025 Financial Results
Net income for the quarter ended December 31, 2025 was
Funds from operations (“FFO”) (non-GAAP) for the quarter ended December 31, 2025 was
Year Ended December 31, 2025 Financial Results
Net income for the year ended December 31, 2025 was
FFO (non-GAAP) for the year ended December 31, 2025 was
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 DECEMBER 31, 2025 AND 2024 |
Below is a table of selected financial results.
| QUARTER ENDED DECEMBER 31, | |||||
| (Amounts in thousands, except share and per share amounts) | 2025 | 2024 | |||
| Revenues | $ | 53,255 | $ | 55,910 | |
| Net income | $ | 3,824 | $ | 12,277 | |
| Net income per common share - basic and diluted | $ | 0.74 | $ | 2.39 | |
| Weighted average shares outstanding - basic and diluted | 5,135,956 | 5,133,534 | |||
| FFO (non-GAAP) | $ | 12,471 | $ | 20,845 | |
| FFO per diluted share (non-GAAP) | $ | 2.43 | $ | 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 DECEMBER 31, | |||||
| (Amount in thousands, except share and per share amounts) | 2025 | 2024 | |||
| Net income | $ | 3,824 | $ | 12,277 | |
| Depreciation and amortization of real property | 8,647 | 8,568 | |||
| FFO (non-GAAP) | $ | 12,471 | $ | 20,845 | |
| FFO per diluted share (non-GAAP) | $ | 2.43 | $ | 4.06 | |
| Weighted average shares used in computing FFO per diluted share | 5,135,956 | 5,133,534 | |||
| ALEXANDER'S, INC. FINANCIAL RESULTS FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024 | |||||
Below is a table of selected financial results.
| YEAR ENDED DECEMBER 31, | |||||
| (Amounts in thousands, except share and per share amounts) | 2025 | 2024 | |||
| Revenues | $ | 213,183 | $ | 226,374 | |
| Net income | $ | 28,224 | $ | 43,444 | |
| Net income per common share - basic and diluted | $ | 5.50 | $ | 8.46 | |
| Weighted average shares outstanding - basic and diluted | 5,135,020 | 5,132,418 | |||
| FFO (non-GAAP) | $ | 62,995 | $ | 77,968 | |
| FFO per diluted share (non-GAAP) | $ | 12.27 | $ | 15.19 | |
| Weighted average shares used in computing FFO per diluted share | 5,135,020 | 5,132,418 | |||
The following table reconciles net income to FFO (non-GAAP):
| YEAR ENDED DECEMBER 31, | |||||
| (Amount in thousands, except share and per share amounts) | 2025 | 2024 | |||
| Net income | $ | 28,224 | $ | 43,444 | |
| Depreciation and amortization of real property | 34,771 | 34,524 | |||
| FFO (non-GAAP) | $ | 62,995 | $ | 77,968 | |
| FFO per diluted share (non-GAAP) | $ | 12.27 | $ | 15.19 | |
| Weighted average shares used in computing FFO per diluted share | 5,135,020 | 5,132,418 | |||
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 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
What were Alexander’s (ALX) fourth-quarter 2025 earnings per share and FFO per share?
How did ALX full-year 2025 FFO compare to 2024 FFO?
Did Alexander’s (ALX) 2025 revenues increase or decrease versus 2024?
What was ALX’s full-year 2025 net income and how did it change year-over-year?
How significant was the Q4 2025 earnings decline for Alexander’s (ALX)?
How many properties does Alexander’s (ALX) own and what is its business structure?
