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 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.
Summary not available.
Summary not available.
Summary not available.