Alexander’s Announces Second Quarter Financial Results
Rhea-AI Summary
Alexander's Inc. (NYSE:ALX), a real estate investment trust with five properties in New York City, reported its Q2 2025 financial results. The company's net income decreased to $6.1 million ($1.19 per diluted share) from $8.4 million ($1.63 per diluted share) in Q2 2024.
The company's FFO (Funds from Operations) for Q2 2025 was $14.8 million ($2.88 per diluted share), down from $17.0 million ($3.31 per diluted share) in Q2 2024. For the six-month period, revenues declined to $106.5 million from $114.8 million in the previous year, while net income decreased to $18.4 million from $24.5 million.
Positive
- Maintained stable property portfolio with five New York City properties
- Consistent depreciation and amortization costs in Q2 ($8.64M in 2025 vs $8.63M in 2024)
- Maintained steady share count indicating no significant dilution
Negative
- Q2 2025 net income declined 27% to $6.1M from $8.4M year-over-year
- Q2 2025 revenues decreased 3.4% to $51.6M from $53.4M year-over-year
- Six-month revenues dropped 7.2% to $106.5M from $114.8M year-over-year
- FFO per diluted share decreased 13% to $2.88 from $3.31 in Q2 2024
News Market Reaction 14 Alerts
On the day this news was published, ALX declined 12.98%, reflecting a significant negative market reaction. Argus tracked a trough of -10.0% from its starting point during tracking. Our momentum scanner triggered 14 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $179M from the company's valuation, bringing the market cap to $1.20B at that time.
Data tracked by StockTitan Argus on the day of publication.
PARAMUS, N.J., Aug. 04, 2025 (GLOBE NEWSWIRE) -- ALEXANDER’S, INC. (New York Stock Exchange: ALX) filed its Form 10-Q for the quarter ended June 30, 2025 today and reported:
Second Quarter 2025 Financial Results
Net income for the quarter ended June 30, 2025 was
Funds from operations (“FFO”) (non-GAAP) for the quarter ended June 30, 2025 was
Six Months Ended June 30, 2025 Financial Results
Net income for the six months ended June 30, 2025 was
FFO (non-GAAP) for the six months ended June 30, 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, 2024. 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.
ALEXANDER'S, INC.
FINANCIAL RESULTS FOR THE QUARTERS ENDED
JUNE 30, 2025 AND 2024
Below is a table of selected financial results.
| QUARTER ENDED JUNE 30, | ||||||||
| (Amounts in thousands, except share and per share amounts) | 2025 | 2024 | ||||||
| Revenues | $ | 51,589 | $ | 53,392 | ||||
| Net income | $ | 6,120 | $ | 8,380 | ||||
| Net income per common share - basic and diluted | $ | 1.19 | $ | 1.63 | ||||
| Weighted average shares outstanding - basic and diluted | 5,134,599 | 5,131,902 | ||||||
| FFO (non-GAAP) | $ | 14,762 | $ | 17,009 | ||||
| FFO per diluted share (non-GAAP) | $ | 2.88 | $ | 3.31 | ||||
| Weighted average shares used in computing FFO per diluted share | 5,134,599 | 5,131,902 | ||||||
The following table reconciles net income to FFO (non-GAAP):
| QUARTER ENDED JUNE 30, | ||||||||
| (Amounts in thousands, except share and per share amounts) | 2025 | 2024 | ||||||
| Net income | $ | 6,120 | $ | 8,380 | ||||
| Depreciation and amortization of real property | 8,642 | 8,629 | ||||||
| FFO (non-GAAP) | $ | 14,762 | $ | 17,009 | ||||
| FFO per diluted share (non-GAAP) | $ | 2.88 | $ | 3.31 | ||||
| Weighted average shares used in computing FFO per diluted share | 5,134,599 | 5,131,902 | ||||||
ALEXANDER'S, INC.
FINANCIAL RESULTS FOR THE SIX MONTHS ENDED
JUNE 30, 2025 AND 2024
Below is a table of selected financial results.
| SIX MONTHS ENDED JUNE 30, | ||||||||
| (Amounts in thousands, except share and per share amounts) | 2025 | 2024 | ||||||
| Revenues | $ | 106,504 | $ | 114,789 | ||||
| Net income | $ | 18,432 | $ | 24,489 | ||||
| Net income per common share - basic and diluted | $ | 3.59 | $ | 4.77 | ||||
| Weighted average shares outstanding - basic and diluted | 5,134,069 | 5,131,290 | ||||||
| FFO (non-GAAP) | $ | 35,604 | $ | 42,541 | ||||
| FFO per diluted share (non-GAAP) | $ | 6.93 | $ | 8.29 | ||||
| Weighted average shares used in computing FFO per diluted share | 5,134,069 | 5,131,290 | ||||||
The following table reconciles net income to FFO (non-GAAP):
| SIX MONTHS ENDED JUNE 30, | ||||||||
| (Amounts in thousands, except share and per share amounts) | 2025 | 2024 | ||||||
| Net income | $ | 18,432 | $ | 24,489 | ||||
| Depreciation and amortization of real property | 17,172 | 18,052 | ||||||
| FFO (non-GAAP) | $ | 35,604 | $ | 42,541 | ||||
| FFO per diluted share (non-GAAP) | $ | 6.93 | $ | 8.29 | ||||
| Weighted average shares used in computing FFO per diluted share | 5,134,069 | 5,131,290 | ||||||
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.
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