Alexander’s Announces Third Quarter Financial Results

The Rego Park I sale contributed $148.0 million to nine-month net income, while FFO also increased year over year.

Rhea-AI Summary

Alexander’s (ALX) reported third-quarter 2026 net income of $27.4 million, up from the same quarter a year earlier. Diluted earnings per share rose to $5.33 from $1.16, while revenue increased to $72.056 million from $53.424 million. Funds from operations (FFO), a non-GAAP measure that adjusts net income for real estate depreciation and certain other items, rose to $36.3 million, or $7.07 per diluted share, from $14.9 million, or $2.91.

For the nine months ended September 30, 2026, revenue reached $180.179 million versus $159.928 million a year earlier. Net income increased to $187.4 million, or $36.48 per diluted share, from $24.4 million, or $4.75. This included a $148.0 million net gain, or $28.81 per diluted share, from selling Rego Park I. Nine-month FFO rose to $65.3 million, or $12.70 per diluted share, from $50.5 million, or $9.84.

7 points · 0 major

PositiveiHow this balance works

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 0 points

How the balance works

Positive

• Moderate pointThird-quarter net income rose to $27.4 million, or $5.33 per diluted share, from $6.0 million, or $1.16.
• Moderate pointThird-quarter revenue increased to $72.056 million from $53.424 million a year earlier.
• Moderate pointThird-quarter non-GAAP FFO rose to $36.3 million, or $7.07 per diluted share, from $14.9 million, or $2.91.
• Minor pointNine-month net income rose to $187.4 million, or $36.48 per diluted share, from $24.4 million, or $4.75.
• Minor pointRego Park I sale generated a $148.0 million net gain, or $28.81 per diluted share, in nine-month results.

2 minor points

• Minor pointNine-month revenue increased to $180.179 million from $159.928 million a year earlier.
• Minor pointNine-month non-GAAP FFO rose to $65.3 million, or $12.70 per diluted share, from $50.5 million, or $9.84.

Negative

• None.

News Explained

FFO is a non-GAAP measure used to compare operating performance, but it is not cash generated from operations and is not necessarily indicative of cash available for requirements; it should not be treated as a liquidity measure.

Key Figures

Quarterly net income: $27.4 million vs. $6.0 million Quarterly diluted EPS: $5.33 vs. $1.16 Quarterly FFO: $36.3 million vs. $14.9 million +5 more

Quarterly net income

$27.4 million vs. $6.0 million

Third quarter 2026 vs. third quarter 2025

Quarterly diluted EPS

$5.33 vs. $1.16

Third quarter 2026 vs. third quarter 2025

Quarterly FFO

$36.3 million vs. $14.9 million

Third quarter 2026 vs. third quarter 2025; non-GAAP

Quarterly FFO per diluted share

$7.07 vs. $2.91

Third quarter 2026 vs. third quarter 2025; non-GAAP

Quarterly revenue

$72.056 million vs. $53.424 million

Third quarter 2026 vs. third quarter 2025

Nine-month net income

$187.4 million vs. $24.4 million

Nine months ended September 30, 2026 vs. 2025

Gain from property sale

$148.0 million

Included in nine-month 2026 net income; Rego Park I property

Nine-month FFO

$65.3 million vs. $50.5 million

Nine months ended September 30, 2026 vs. 2025; non-GAAP

Previous Earnings Reports

5 past events · Latest: Aug 03

Same Type 5 events

1. Aug 03

   Q2 earnings

   24h Move

   +2.6%

   Net income rose; FFO increased modestly year over year.

2. May 04

   Q1 earnings

   24h Move

   -0.2%

   Net income and FFO declined year over year.

3. Feb 09

   Q4 earnings

   24h Move

   -11.1%

   Q4 net income and FFO were lower than the prior-year quarter.

4. Nov 03

   Q3 earnings

   24h Move

   +1.6%

   Q3 net income and nine-month net income and FFO declined year over year.

5. Aug 04

   Q2 earnings

   24h Move

   -13.0%

   Q2 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.

Key Terms

form 10-q, funds from operations, non-gaap

3 terms

form 10-q regulatory

"filed its Form 10-Q for the quarter ended September 30, 2026"

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

funds from operations financial

"Funds from operations (“FFO”) (non-GAAP)"

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

non-gaap financial

"FFO (non-GAAP) for the quarter ended September 30, 2026"

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

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PARAMUS, N.J., Nov. 02, 2026 (GLOBE NEWSWIRE) -- ALEXANDER’S, INC. (New York Stock Exchange: ALX) filed its Form 10-Q for the quarter ended September 30, 2026 today and reported:

Third Quarter 2026 Financial Results

Net income for the quarter ended September 30, 2026 was $27.4 million, or $5.33 per diluted share, compared to $6.0 million, or $1.16 per diluted share for the quarter ended September 30, 2025.

Funds from operations (“FFO”) (non-GAAP) for the quarter ended September 30, 2026 was $36.3 million, or $7.07 per diluted share, compared to $14.9 million, or $2.91 per diluted share for the quarter ended September 30, 2025.

Nine Months Ended September 30, 2026 Financial Results

Net income for the nine months ended September 30, 2026 was $187.4 million, or $36.48 per diluted share, compared to $24.4 million, or $4.75 per diluted share for the nine months ended September 30, 2025. Net income for the nine months ended September 30, 2026 included $148.0 million, or $28.81 per diluted share, of income as a result of a net gain from the sale of the Rego Park I property.

FFO (non-GAAP) for the nine months ended September 30, 2026 was $65.3 million, or $12.70 per diluted share, compared to $50.5 million, or $9.84 per diluted share for the nine months ended September 30, 2025.

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 SEPTEMBER 30, 2026 AND 2025
Below is a table of selected financial results.
	QUARTER ENDED SEPTEMBER 30,
(Amounts in thousands, except share and per share amounts)		2026				2025
Revenues	$	72,056			$	53,424
Net income	$	27,404			$	5,968
Net income per common share - basic and diluted	$	5.33			$	1.16
Weighted average shares outstanding - basic and diluted		5,139,491				5,135,956
FFO (non-GAAP)	$	36,349			$	14,920
FFO per diluted share (non-GAAP)	$	7.07			$	2.91
Weighted average shares used in computing FFO per diluted share		5,139,491				5,135,956

The following table reconciles net income to FFO (non-GAAP):

	QUARTER ENDED SEPTEMBER 30,
(Amounts in thousands, except share and per share amounts)		2026				2025
Net income	$	27,404			$	5,968
Depreciation and amortization of real property		8,945				8,952
FFO (non-GAAP)	$	36,349			$	14,920
FFO per diluted share (non-GAAP)	$	7.07			$	2.91
Weighted average shares used in computing FFO per diluted share		5,139,491				5,135,956

ALEXANDER'S, INC.
FINANCIAL RESULTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
Below is a table of selected financial results.
	NINE MONTHS ENDED SEPTEMBER 30,
(Amounts in thousands, except share and per share amounts)		2026				2025
Revenues	$	180,179			$	159,928
Net income	$	187,428			$	24,400
Net income per common share - basic and diluted	$	36.48			$	4.75
Weighted average shares outstanding - basic and diluted		5,137,678				5,134,705
FFO (non-GAAP)	$	65,251			$	50,524
FFO per diluted share (non-GAAP)	$	12.70			$	9.84
Weighted average shares used in computing FFO per diluted share		5,137,678				5,134,705

The following table reconciles net income to FFO (non-GAAP):

	NINE MONTHS ENDED SEPTEMBER 30,
(Amounts in thousands, except share and per share amounts)		2026				2025
Net income	$	187,428			$	24,400
Depreciation and amortization of real property		25,825				26,124
Net gain on sale of real estate		(148,002	)			—
FFO (non-GAAP)	$	65,251			$	50,524
FFO per diluted share (non-GAAP)	$	12.70			$	9.84
Weighted average shares used in computing FFO per diluted share		5,137,678				5,134,705

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 third-quarter 2026 earnings?

Alexander’s earned $27.4 million, or $5.33 per diluted share, in the quarter ended September 30, 2026. That compares with $6.0 million, or $1.16 per diluted share, in the same quarter of 2025.

How did the Rego Park I sale affect Alexander’s nine-month 2026 results?

The Rego Park I sale contributed a $148.0 million net gain, or $28.81 per diluted share, to nine-month 2026 net income. Total net income for that period was $187.4 million, or $36.48 per diluted share.

Does Alexander’s FFO measure cash available to shareholders?

FFO does not represent cash generated from operating activities and is not necessarily indicative of cash available to fund cash requirements. It is not an alternative to net income as a performance measure or cash flow as a liquidity measure, and may not be comparable with similarly titled measures used by other companies.