Alexander's Stock Price, News & Analysis

ALEXANDER’S, INC. (ALX) reported its Q3 2020 results, showing a net income of $6.6 million or $1.29 per diluted share, down from $16.5 million or $3.22 a year ago. Funds from operations (FFO) for Q3 2020 were $15.4 million or $3.00 per diluted share, compared to $25.2 million or $4.92 in Q3 2019. For the nine months ended September 30, 2020, net income was $23.5 million (or $4.59 per diluted share), down from $45.6 million (or $8.92) the previous year. Approximately 95% of rent was collected for Q3 2020.

ALEXANDER'S, INC. (NYSE: ALX) has declared a quarterly dividend of $4.50 per share, to be paid on November 20, 2020. Stockholders on record by November 9, 2020 will be eligible. This announcement reinforces the company's commitment to returning value to its shareholders. Alexander’s operates seven properties in the greater New York City area, solidifying its position in a prime real estate market.

ALEXANDER’S (NYSE: ALX) has secured a $94 million financing for The Alexander, a 312-unit residential project in Rego Park, Queens. This interest-only loan has a fixed rate of 2.63% and matures in November 2027. The property is part of a larger complex developed by the company. Alexander’s, a real estate investment trust, operates seven properties in the greater New York City area.

ALEXANDER’S, INC. (NYSE: ALX) will hold a quarterly earnings conference call on November 4, 2020, at 10:00 a.m. ET. The call, managed by Vornado Realty Trust (NYSE: VNO), will discuss key information regarding Alexander’s operations. Investors can join the call by dialing 888-771-4371 domestically or 847-585-4405 internationally, using passcode 49978074. A live webcast will also be available on Vornado's website. Alexander’s is a real estate investment trust with seven properties in the New York City metropolitan area.

ALEXANDER'S, INC. (ALX) has amended a $350 million mortgage loan on its retail condominium at 731 Lexington Avenue, reducing the principal to $300 million. The maturity date has been extended to August 2025, and the company guarantees interest payments and certain leasing costs. The loan, which remains interest-only at LIBOR plus 1.40% (currently 1.55%), is non-recourse to the company. The company operates seven properties in the greater New York City area.

ALEXANDER’S, INC. (ALX) reported second quarter 2020 financial results showing a net income of $12.3 million, or $2.41 per diluted share, up from $11.3 million, or $2.20 per diluted share in Q2 2019. However, Funds from Operations (FFO) declined to $18.0 million, or $3.51 per diluted share, down from $24.3 million, or $4.75 per diluted share in the same quarter last year. For the first half, net income was $16.9 million, or $3.30 per diluted share, significantly lower than $29.1 million, or $5.70 in H1 2019. Approximately 89% of rent was collected during the quarter.

Alexander's, Inc. (NYSE: ALX) declared a quarterly dividend of $4.50 per share, payable on August 21, 2020, to stockholders of record by August 10, 2020. The company operates seven properties in the greater New York City metropolitan area. Future results may be influenced by various risks and uncertainties, including property improvement costs and impacts related to the COVID-19 pandemic.

ALEXANDER’S, INC. (NYSE: ALX) announced a quarterly earnings conference call hosted by Vornado Realty Trust (NYSE: VNO) on August 4, 2020, at 10:00 a.m. ET. This call will provide insights into Alexander’s operations. Interested parties can join by calling 888-771-4371 (domestic) or 847-585-4405 (international), using passcode 49760489. A live webcast will be available on Vornado’s investor relations page.

Alexander’s is a real estate investment trust with seven properties in the greater New York City metropolitan area.