Alexander’s Announces Second Quarter Financial Results
Rhea-AI Summary
Alexander’s (NYSE: ALX) reported second quarter 2026 net income of $155.4 million, or $30.24 per diluted share, up from $6.1 million, or $1.19, a year earlier. The quarter included $148.0 million, or $28.81 per share, of income from a net gain on the sale of the Rego Park I property.
FFO (non-GAAP) for Q2 2026 was $15.5 million, or $3.02 per diluted share, compared with $14.8 million, or $2.88, in Q2 2025. Revenues for the quarter were $54.7 million versus $51.6 million.
For the six months ended June 30, 2026, net income was $160.0 million, or $31.15 per diluted share, versus $18.4 million, or $3.59, in 2025. Six‑month FFO was $28.9 million, or $5.63 per diluted share, compared with $35.6 million, or $6.93, a year earlier. The company is a REIT with four New York City properties.
Positive
- Q2 2026 net income rose to $155.4M from $6.1M
- Q2 2026 FFO increased to $15.5M vs. $14.8M in 2025
- Net gain on Rego Park I sale contributed $148.0M to net income
- Q2 2026 revenues grew to $54.7M from $51.6M
- Six‑month 2026 revenues increased to $108.1M from $106.5M
Negative
- Six‑month 2026 FFO declined to $28.9M from $35.6M
- Six‑month 2026 FFO per diluted share fell to $5.63 from $6.93
News Explained
The filing makes the property-sale gain’s non-operating nature clear: it lifts net income but is excluded from FFO and does not equal operating cash.
On
The release attributes
Market Reaction – ALX
Following this news, ALX has gained 3.14%, reflecting a moderate positive market reaction. Our momentum scanner has triggered 2 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $263.01.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 04 | First-quarter earnings | Negative | -0.2% | Net income and FFO declined year over year in first-quarter results. |
| Feb 09 | Fourth-quarter earnings | Negative | -11.1% | Fourth-quarter and full-year net income and FFO declined from prior-year periods. |
| Nov 03 | Third-quarter earnings | Neutral | +1.6% | Quarterly FFO increased while nine-month net income and FFO declined year over year. |
| Aug 04 | Second-quarter earnings | Negative | -13.0% | Second-quarter net income and FFO declined from the prior-year quarter. |
| May 05 | First-quarter earnings | Negative | -0.9% | First-quarter revenue, net income, and FFO declined year over year. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings events produced an average 24-hour reaction of -4.71%, with four of five reactions negative.
Key Terms
funds from operations financial
non-gaap financial
form 10-q regulatory
forward-looking statements regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
PARAMUS, N.J., Aug. 03, 2026 (GLOBE NEWSWIRE) -- ALEXANDER’S, INC. (New York Stock Exchange: ALX) filed its Form 10-Q for the quarter ended June 30, 2026 today and reported:
Second Quarter 2026 Financial Results
Net income for the quarter ended June 30, 2026 was
Funds from operations (“FFO”) (non-GAAP) for the quarter ended June 30, 2026 was
Six Months Ended June 30, 2026 Financial Results
Net income for the six months ended June 30, 2026 was
FFO (non-GAAP) for the six months ended June 30, 2026 was
Alexander’s, Inc. is a real estate investment trust which has four 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 JUNE 30, 2026 AND 2025 |
Below is a table of selected financial results.
| QUARTER ENDED JUNE 30, | ||||||||
| (Amounts in thousands, except share and per share amounts) | 2026 | 2025 | ||||||
| Revenues | $ | 54,711 | $ | 51,589 | ||||
| Net income | $ | 155,362 | $ | 6,120 | ||||
| Net income per common share - basic and diluted | $ | 30.24 | $ | 1.19 | ||||
| Weighted average shares outstanding - basic and diluted | 5,137,549 | 5,134,599 | ||||||
| FFO (non-GAAP) | $ | 15,538 | $ | 14,762 | ||||
| FFO per diluted share (non-GAAP) | $ | 3.02 | $ | 2.88 | ||||
| Weighted average shares used in computing FFO per diluted share | 5,137,549 | 5,134,599 | ||||||
The following table reconciles net income to FFO (non-GAAP):
| QUARTER ENDED JUNE 30, | ||||||||
| (Amounts in thousands, except share and per share amounts) | 2026 | 2025 | ||||||
| Net income | $ | 155,362 | $ | 6,120 | ||||
| Depreciation and amortization of real property | 8,178 | 8,642 | ||||||
| Net gain on sale of real estate | (148,002 | ) | — | |||||
| FFO (non-GAAP) | $ | 15,538 | $ | 14,762 | ||||
| FFO per diluted share (non-GAAP) | $ | 3.02 | $ | 2.88 | ||||
| Weighted average shares used in computing FFO per diluted share | 5,137,549 | 5,134,599 | ||||||
| ALEXANDER'S, INC. FINANCIAL RESULTS FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025 |
Below is a table of selected financial results.
| SIX MONTHS ENDED JUNE 30, | ||||||||
| (Amounts in thousands, except share and per share amounts) | 2026 | 2025 | ||||||
| Revenues | $ | 108,123 | $ | 106,504 | ||||
| Net income | $ | 160,024 | $ | 18,432 | ||||
| Net income per common share - basic and diluted | $ | 31.15 | $ | 3.59 | ||||
| Weighted average shares outstanding - basic and diluted | 5,136,757 | 5,134,069 | ||||||
| FFO (non-GAAP) | $ | 28,902 | $ | 35,604 | ||||
| FFO per diluted share (non-GAAP) | $ | 5.63 | $ | 6.93 | ||||
| Weighted average shares used in computing FFO per diluted share | 5,136,757 | 5,134,069 | ||||||
The following table reconciles net income to FFO (non-GAAP):
| SIX MONTHS ENDED JUNE 30, | ||||||||
| (Amounts in thousands, except share and per share amounts) | 2026 | 2025 | ||||||
| Net income | $ | 160,024 | $ | 18,432 | ||||
| Depreciation and amortization of real property | 16,880 | 17,172 | ||||||
| Net gain on sale of real estate | (148,002 | ) | — | |||||
| FFO (non-GAAP) | $ | 28,902 | $ | 35,604 | ||||
| FFO per diluted share (non-GAAP) | $ | 5.63 | $ | 6.93 | ||||
| Weighted average shares used in computing FFO per diluted share | 5,136,757 | 5,134,069 | ||||||
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.
