Alexander's, Inc. reported decreased net income and funds from operations for Q2 2025 compared to the previous year.
Quiver AI Summary
Alexander's, Inc. reported its financial results for the second quarter and the first six months of 2025. For Q2 2025, the company recorded a net income of $6.1 million, down from $8.4 million in Q2 2024, resulting in diluted earnings per share of $1.19 compared to $1.63 the previous year. Funds from operations (FFO) for the quarter were $14.8 million, or $2.88 per diluted share, also reflecting a decline from $17.0 million or $3.31 per diluted share in 2024. Over the first six months of 2025, net income totaled $18.4 million, down from $24.5 million in 2024, with diluted earnings per share of $3.59 compared to $4.77. FFO for the half-year was $35.6 million, or $6.93 per diluted share, down from $42.5 million or $8.29 per diluted share a year earlier. The release highlights a decrease in revenue and net income compared to the previous year, emphasizing the challenges faced by the real estate investment trust.
Potential Positives
- Despite the decline in net income and FFO compared to the prior year, Alexander's, Inc. continues to maintain a steady dividend payout, which is a positive sign for investor confidence.
- The company reported revenues of $51.6 million for Q2 2025, indicating continued operational activity in a challenging market.
- The company has consistently managed its weighted average shares outstanding, which may support the stability of its earnings per share moving forward.
- Alexander's, Inc. remains engaged in the real estate investment sector, with a portfolio of five properties in New York City, which is significant for its market presence.
Potential Negatives
- Net income decreased significantly for both the quarter and six months ended June 30, 2025, compared to the same periods in 2024, indicating a decline in profitability.
- Funds from operations (FFO) also saw a notable drop for both the quarter and six months ended June 30, 2025, suggesting potential challenges in operational performance and cash flow generation.
- Overall revenues declined for both the quarter and six months ended June 30, 2025, compared to 2024, which may raise concerns about the company's growth and market position.
FAQ
What were Alexander’s, Inc. second quarter results for 2025?
Alexander’s, Inc. reported a net income of $6.1 million, or $1.19 per diluted share for Q2 2025.
How did FFO change in the second quarter of 2025?
Funds from operations (FFO) for Q2 2025 decreased to $14.8 million, or $2.88 per diluted share.
What is the net income for the first half of 2025?
The net income for the six months ended June 30, 2025, was $18.4 million, or $3.59 per diluted share.
How does FFO for the first half of 2025 compare to last year?
FFO for the first half of 2025 was $35.6 million, down from $42.5 million in the same period last year.
What are forward-looking statements in Alexander’s press release?
Forward-looking statements involve risks and uncertainties that may cause actual results to differ significantly from expectations.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ALX Hedge Fund Activity
We have seen 64 institutional investors add shares of $ALX stock to their portfolio, and 55 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JPMORGAN CHASE & CO removed 68,592 shares (-83.2%) from their portfolio in Q1 2025, for an estimated $14,346,702
- H/2 CREDIT MANAGER LP added 65,322 shares (+inf%) to their portfolio in Q1 2025, for an estimated $13,662,749
- GOLDMAN SACHS GROUP INC added 12,060 shares (+3.5%) to their portfolio in Q1 2025, for an estimated $2,522,469
- BEVERLY HILLS PRIVATE WEALTH, LLC added 11,322 shares (+170.7%) to their portfolio in Q2 2025, for an estimated $2,551,073
- MIRAE ASSET GLOBAL ETFS HOLDINGS LTD. added 9,689 shares (+17.1%) to their portfolio in Q1 2025, for an estimated $2,026,551
- MILLENNIUM MANAGEMENT LLC removed 7,348 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $1,536,907
- FIRST TRUST ADVISORS LP removed 6,612 shares (-81.8%) from their portfolio in Q1 2025, for an estimated $1,382,965
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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 $6.1 million, or $1.19 per diluted share, compared to $8.4 million, or $1.63 per diluted share for the quarter ended June 30, 2024.
Funds from operations (“FFO”) (non-GAAP) for the quarter ended June 30, 2025 was $14.8 million, or $2.88 per diluted share, compared to $17.0 million, or $3.31 per diluted share for the quarter ended June 30, 2024.
Six Months Ended June 30, 2025 Financial Results
Net income for the six months ended June 30, 2025 was $18.4 million, or $3.59 per diluted share, compared to $24.5 million, or $4.77 per diluted share for the six months ended June 30, 2024.
FFO (non-GAAP) for the six months ended June 30, 2025 was $35.6 million, or $6.93 per diluted share, compared to $42.5 million, or $8.29 per diluted share for the six months ended June 30, 2024.
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.
