Welcome to our dedicated page for Alexander's news (Ticker: ALX), a resource for investors and traders seeking the latest updates and insights on Alexander's stock.
Alexander's Inc. reports developments for a New York City real estate investment trust with five properties. Company news centers on quarterly and annual operating results, net income, funds from operations, regular dividends on common shares, and the timing of SEC reports and related conference-call disclosures conducted through Vornado Realty Trust, the manager of Alexander's operations.
Recurring updates also cover property-level lease and financing matters, including agreements tied to 731 Lexington Avenue in Manhattan and debt transactions involving New York City retail and shopping-center assets. These announcements frame Alexander's as an owner and operator whose public disclosures are closely tied to tenant leases, mortgage financing, and cash flows from its property portfolio.
Alexander's Inc (ALX) has reported its fourth quarter and full-year 2024 financial results. For Q4 2024, the company recorded net income of $12.3 million ($2.39 per diluted share), down from $16.3 million ($3.17 per diluted share) in Q4 2023. Q4 revenues decreased to $55.9 million from $62.9 million year-over-year.
For the full year 2024, net income was $43.4 million ($8.46 per diluted share), compared to $102.4 million ($19.97 per diluted share) in 2023. The significant difference is mainly due to a $54.0 million gain from the sale of Rego Park III land parcel in 2023. Annual revenues slightly increased to $226.4 million from $225.0 million.
The company's Funds from Operations (FFO) for Q4 2024 was $20.8 million ($4.06 per share), down from $25.6 million ($4.99 per share) in Q4 2023. Full-year 2024 FFO decreased to $78.0 million ($15.19 per share) from $81.1 million ($15.80 per share) in 2023.
Alexander's (NYSE: ALX) has announced its Board of Directors' declaration of a regular quarterly dividend of $4.50 per share. The dividend will be payable on February 28, 2025, to stockholders of record as of February 18, 2025. The company operates as a real estate investment trust with five properties located in New York City.
Alexander's Inc (NYSE: ALX) has announced it will release its fourth quarter and full year 2024 earnings report on Monday, February 10, 2025, before the NYSE market opening. The company will file its annual report on Form 10-K for the year ended December 31, 2024, with the SEC on the same day.
Vornado Realty Trust (NYSE: VNO), which manages Alexander's operations, will host a quarterly earnings conference call and audio webcast on Tuesday, February 11, 2025, at 10:00 a.m. ET. The call will include discussion of Alexander's information and can be accessed via phone (888-317-6003 domestic; 412-317-6061 international) using passcode 0916117. A live webcast will be available on Vornado's website.
Alexander's Inc (NYSE: ALX) reported its Q3 2024 financial results. Net income decreased to $6.7 million ($1.30 per diluted share) from $10.8 million ($2.10 per diluted share) in Q3 2023. FFO declined to $14.6 million ($2.84 per diluted share) compared to $18.6 million ($3.63 per diluted share) year-over-year. For the nine months ended September 30, 2024, net income was $31.2 million ($6.07 per diluted share), down from $86.1 million ($16.79 per diluted share) in 2023, which included a $54.0 million gain from the Rego Park III land sale.
Alexander's (NYSE: ALX) has announced a regular quarterly dividend of $4.50 per share. The dividend will be payable on November 29, 2024 to stockholders of record as of November 11, 2024. The company operates as a real estate investment trust with five properties located in New York City.
Alexander's, Inc. (NYSE: ALX) has announced its schedule for third quarter 2024 financial reporting. The company will file its Form 10-Q and issue its earnings release on Monday, November 4, 2024, before the New York Stock Exchange opens. Vornado Realty Trust (NYSE: VNO), which manages Alexander's operations, will host a quarterly earnings conference call and audio webcast on Tuesday, November 5, 2024, at 10:00 a.m. ET.
The conference call can be accessed by dialing 888-317-6003 (domestic) or 412-317-6061 (international) with passcode 1557554. A live webcast will be available on Vornado's website at www.vno.com in the Investor Relations section, with an online playback available after the call. Alexander's, Inc. is a real estate investment trust with five properties in New York City.
Alexander's (NYSE: ALX) has successfully completed a $400 million refinancing of the office condominium portion of 731 Lexington Avenue, the Class A Bloomberg LP headquarters building. The new interest-only loan features a fixed rate of 5.045% and is set to mature in October 2028. This loan replaces the previous $490 million loan, which had an interest rate tied to the Prime rate (currently 8.00%) and was due to mature in October 2024.
The new financing arrangement allows Alexander's the option to prepay the loan without penalty starting from October 2026. Alexander's, Inc. is a real estate investment trust with a portfolio of five properties located in New York City.
Alexander's Inc (NYSE: ALX) has reported its Q2 2024 financial results. Net income for Q2 2024 was $8.4 million ($1.63 per diluted share), compared to $64.1 million ($12.51 per diluted share) in Q2 2023. The significant decrease is primarily due to a $54.0 million gain from the sale of the Rego Park III land parcel in Q2 2023. Funds from operations (FFO) for Q2 2024 were $17.0 million ($3.31 per diluted share), down from $18.2 million ($3.55 per diluted share) in Q2 2023.
For the first half of 2024, net income was $24.5 million ($4.77 per diluted share), compared to $75.4 million ($14.70 per diluted share) in H1 2023. FFO for H1 2024 increased to $42.5 million ($8.29 per diluted share) from $36.8 million ($7.18 per diluted share) in H1 2023. Alexander's Inc is a real estate investment trust with five properties in New York City.
Alexander's, Inc. (NYSE: ALX), a real estate investment trust with five properties in the New York City metropolitan area, has announced a regular quarterly dividend of $4.50 per share. The dividend will be payable on August 30, 2024 to stockholders of record on August 12, 2024. This announcement demonstrates the company's commitment to providing consistent returns to its shareholders and reflects its financial stability in the real estate sector.
Alexander's (NYSE: ALX) has announced its schedule for releasing second quarter 2024 earnings. The company will file its quarterly report on Form 10-Q and issue its earnings release on Monday, August 5, 2024, before the New York Stock Exchange opens. Vornado Realty Trust (NYSE: VNO), which manages Alexander's operations, will host a quarterly earnings conference call and audio webcast on Tuesday, August 6, 2024, at 10:00 a.m. ET. The call may include information about Alexander's. Investors can access the call by dialing 888-317-6003 (domestic) or 412-317-6061 (international) with passcode 8799771. A live webcast will be available on Vornado's website, with a playback option post-call.