SOUTH SAN FRANCISCO, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., (“ALX Oncology” or “the Company”) (Nasdaq: ALXO), an immuno-oncology company developing therapies that block the CD47 immune checkpoint pathway, today announced that management will participate in the Jefferies Global Healthcare Conference. Details are as follows: Format: Fireside chat with analyst, Michael Yee and 1x1 Investor MeetingsDate: Wednesday, June 5, 2024 Time: 1:00 PM ET Location: New York, NY Webcast link: ...

Core Viewpoint - The article discusses the potential investment opportunities in high-yield dividend stocks that are currently out of favor with Wall Street analysts, suggesting that these stocks may be worth investigating for contrarian investors [1][2]. Group 1: High-Yield Dividend Stocks - Seven dividend-paying stocks with yields up to 12.9% are highlighted, all of which are disliked by Wall Street analysts, indicating a potential contrarian investment opportunity [2]. - Xerox (XRX) offers a 7.2% yield, but its dividend has remained stagnant at $0.25 per share since 2017, reflecting a lack of growth and a prolonged downtrend in stock value, losing 25% in 2024 [3]. - Western Union (WU) has a 7.1% yield and has struggled against competitors, with a frozen dividend for several years. Despite a challenging outlook, shares have increased by 25% from spring 2023 lows, and the company is showing signs of progress with its "Evolve 2025" initiative [4][5]. - Alexander's (ALX) is an office REIT with an 8.3% yield, which has seen its stock value drop significantly due to COVID-19. The company has improved its funds from operations (FFO) coverage in Q1 2024, indicating potential recovery [6][7]. - Peakstone Realty Trust (PKST) has a 6.0% yield and has faced a nearly 60% decline since going public in April 2023. The company is repositioning its portfolio, which may improve its long-term prospects [8][9]. - National Storage Affiliates Trust (NSA) also has a 6.0% yield and has been affected by high home prices and interest rates. However, its dividend is well-covered at 89% of estimated 2024 FFO, and stock prices have been gradually improving [10]. - Buckle (BKE) offers a 10.0% yield but has a bearish analyst sentiment with one Hold and one Sell. Despite weaker operations, the company is expected to resume profit growth next fiscal year [11]. - Prospect Capital (PSEC) has a 12.9% yield but a poor track record with multiple dividend cuts. It trades at a significant discount to NAV, indicating deep value pricing despite analyst pessimism [12].

分组1 - Alexander's reported quarterly funds from operations (FFO) of $4.98 per share, missing the Zacks Consensus Estimate of $6.41 per share, and showing an increase from $3.63 per share a year ago, resulting in an FFO surprise of -22.31% [1] - The company posted revenues of $61.4 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 13.40%, compared to year-ago revenues of $52.94 million [1] - Over the last four quarters, Alexander's has surpassed consensus FFO estimates two times and topped consensus revenue estimates three times [1] 分组2 - The stock has added about 0.1% since the beginning of the year, underperforming the S&P 500's gain of 7.5% [2] - The current consensus FFO estimate for the coming quarter is $2.87 on $54.9 million in revenues, and for the current fiscal year, it is $14.86 on $235.5 million in revenues [4] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 40% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [4]

Core Insights - Alexander's, Inc. reported a net income of $16.1 million, or $3.14 per diluted share, for the quarter ended March 31, 2024, an increase from $11.2 million, or $2.19 per diluted share, for the same quarter in 2023 [1][3] - Funds from operations (FFO) for the quarter was $25.5 million, or $4.98 per diluted share, compared to $18.6 million, or $3.63 per diluted share, for the quarter ended March 31, 2023 [1][3] - The company operates as a real estate investment trust (REIT) with five properties located in New York City [1] Financial Performance - Revenues for the quarter ended March 31, 2024, were $61.4 million, up from $52.9 million in the same quarter of 2023 [3][4] - The weighted average shares outstanding for basic and diluted calculations were 5,130,678 for both 2024 and 2023 [3][4] - Depreciation and amortization of real property for the quarter was $9.4 million, compared to $7.4 million in the previous year [4]

Financial Performance - Net income for the quarter ended March 31, 2024, was $16,109,000, or $3.14 per diluted share, compared to $11,226,000, or $2.19 per diluted share in the prior year's quarter, representing a 43% increase in net income [75]. - Funds from operations (FFO) for the quarter ended March 31, 2024, was $25,532,000, or $4.98 per diluted share, compared to $18,633,000, or $3.63 per diluted share in the prior year's quarter, reflecting a 37% increase [75]. - Net income for Q1 2024 was $16,109,000, compared to $11,226,000 in Q1 2023, indicating a year-over-year increase of approximately 43% [98]. - FFO (non-GAAP) for Q1 2024 was $25,532,000, or $4.98 per diluted share, up from $18,633,000, or $3.63 per diluted share in Q1 2023, representing a 37% increase in FFO [97]. Revenue and Occupancy - Rental revenues increased to $61,397,000 for the three months ended March 31, 2024, from $52,941,000 in the prior year's quarter, an increase of 16% [80]. - The commercial occupancy rate was 92.5% and the residential occupancy rate was 96.8% as of March 31, 2024 [76]. - Bloomberg L.P. accounted for approximately 49% of rental revenues in Q1 2024, generating $29,963,000, compared to 56% in Q1 2023 [77]. Expenses and Debt - Operating expenses for the quarter were $25,263,000, an increase of 1.3% from $24,944,000 in the prior year's quarter [81]. - Interest and debt expense rose to $16,234,000 for the quarter, up 32.5% from $12,253,000 in the prior year's quarter [84]. - The company has a total debt fair value of $1,074,768,000 as of March 31, 2024, compared to $1,071,887,000 as of December 31, 2023 [102]. Cash Flow and Future Outlook - Cash and cash equivalents and restricted cash were $547,399,000 as of March 31, 2024, a decrease of $5,578,000 from $552,977,000 as of December 31, 2023 [88]. - The company anticipates that cash flow from continuing operations over the next twelve months will be adequate to fund business operations, cash dividends, debt service, and capital expenditures [87]. Lease Agreements - In May 2024, the company and Bloomberg extended leases covering approximately 947,000 square feet at the 731 Lexington Avenue property for an additional eleven years [78]. Depreciation and Interest Rates - Depreciation and amortization of real property for Q1 2024 was $9,423,000, compared to $7,407,000 in Q1 2023, reflecting a 27% increase [98]. - The weighted average interest rate for variable rate debt is 5.88% as of March 31, 2024, with a total variable rate balance of $702,544,000 [100]. - The company has an interest rate cap on a mortgage loan with a notional amount of $500,000,000, capping the Prime Rate at 6.00% [100]. - An interest rate cap on the Rego Park II shopping center mortgage loan has a notional amount of $202,544,000, capping SOFR at 4.15% through November 2024 [100]. - The company has an interest rate swap on a mortgage loan with a notional amount of $300,000,000, swapping SOFR plus 1.51% for a fixed rate of 1.76% through May 2025 [100]. - The total effect on diluted earnings per share from interest rate changes is estimated at $1.37 [100]. - The weighted average shares used in computing FFO per diluted share increased slightly to 5,130,678 in Q1 2024 from 5,127,086 in Q1 2023 [98].

NEW YORK, May 06, 2024 (GLOBE NEWSWIRE) -- Alexander's, Inc. today announced an 11-year lease extension agreement with Bloomberg LP which will begin at the expiration of the existing lease in 2029, continuing a long-standing headquarters presence at 731 Lexington Avenue through 2040. Bloomberg, which relocated its global headquarters to the tower upon its completion, will continue to occupy all 946,815 square feet of office space in the building. The company's headquarters at 731 Lexington remains its large ...

PARAMUS, N.J., April 25, 2024 (GLOBE NEWSWIRE) -- Alexander's, Inc. (NYSE:ALX) today announced that it will file its quarterly report on Form 10-Q for the quarter ended March 31, 2024 with the U.S. Securities and Exchange Commission and issue its first quarter earnings release on Monday, May 6, 2024, before the New York Stock Exchange opens. Vornado Realty Trust (NYSE:VNO), the manager which conducts Alexander's operations, announced it will host its quarterly earnings conference call and an audio webcast o ...

PARAMUS, N.J., April 25, 2024 (GLOBE NEWSWIRE) -- Alexander’s, Inc. (NYSE: ALX) today announced that it will file its quarterly report on Form 10-Q for the quarter ended March 31, 2024 with the U.S. Securities and Exchange Commission and issue its first quarter earnings release on Monday, May 6, 2024, before the New York Stock Exchange opens. Vornado Realty Trust (NYSE: VNO), the manager which conducts Alexander’s operations, announced it will host its quarterly earnings conference call and an audio webcast ...

Core Viewpoint - Alexander's Inc (ALX) has maintained a strong dividend yield of 8.8% and reported a fiscal 2023 FFO of $81.1 million, which is above its peer group median by approximately 9% [2][3] Financial Performance - ALX declared a quarterly dividend of $4.9250 per share, with a total return of 23% over the last year [2] - The fourth quarter FFO was $25.6 million, or $4.99 per share, which covered the recent dividend by 111% [3] - ALX's cash and cash equivalents stood at $532 million at the end of the fourth quarter, with an additional $21.12 million in restricted cash [3] Asset Overview - The most significant asset is the 731 Lexington Avenue office, fully leased to Bloomberg, accounting for 38.2% of ALX's total portfolio [4] - The property has a weighted average escalated rent of $135.44 per square foot and is not set for lease expiration until 2029 [4] Debt and Interest Management - ALX has $500 million in debt tied to the 731 Lexington property due on June 11, 2024, with an interest rate of 6.00% [5] - Another $502 million in debt is due in 2025, which may increase interest expenses [5] - The REIT has utilized interest rate swaps and caps to manage interest exposure, maintaining stable cash from operations [5] Market Conditions - The Federal Reserve's actions regarding interest rates are critical for ALX, with current expectations for only one rate cut through 2024 [7][9] - The occupancy rate of the 731 Lexington property remains at 100%, which, along with a strong cash position, mitigates some risks [10]

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Alexander's, Inc. (ALX) is a real estate investment trust. The Zacks Consensus Estimate for its current year earnings has been revised 5.9% downward over the last 60 days.Atlanticus Holdings Corporation (ATLC) is a financial technology company. The Zacks Consensus Estimate for its current year earnings has been revised 8.3% downward over the last 60 days.Dime Community Bancshares, Inc. (DCOM) is a holding company for Dime Community Ba ...