Core Viewpoint - Alexander's, Inc. has successfully completed a $175 million refinancing of its Rego Park II shopping center, indicating a strategic move to manage its debt and financial obligations effectively [1]. Group 1: Financial Details - The refinancing involves an interest-only loan at SOFR plus 2.00%, which currently stands at 5.82%, maturing in December 2030 [1]. - Alexander's paid down $23.5 million of the previous loan amounting to $198.5 million, which had an interest rate of SOFR plus 1.45% and was set to mature on December 12, 2025 [1]. Group 2: Company Overview - Alexander's, Inc. operates as a real estate investment trust (REIT) with a portfolio of five properties located in New York City [2].

Core Viewpoint - The article discusses a selection of stocks with high dividend yields that are currently viewed unfavorably by Wall Street analysts, suggesting potential investment opportunities in these "hated" stocks. Group 1: Real Estate Investment Trusts (REITs) - National Storage Affiliates Trust (NSA) has a yield of 7.9% and operates 1,069 properties across 37 states and Puerto Rico, benefiting from a recession-resistant business model, although it is currently facing a 20% pullback in performance [3][4] - NSA's recent quarter showed declines in earnings, core FFO, same store net operating income, and occupancy, reflecting broader challenges in the self-storage sector rather than unique issues for NSA [3][4] - Alexander's (ALX) has an 8.5% yield and is highly concentrated, with 60% of its revenues coming from tenant Bloomberg. The company is in discussions for loan restructuring after failing to repay a $300 million loan [5][6] - Despite challenges, ALX has shown double-digit total returns in 2025, outperforming the broader real estate sector, but Wall Street remains skeptical due to dividend concerns [7] Group 2: Talent Solutions and Consulting - Robert Half (RHI) has a yield of 9.0% and operates in contract talent solutions, permanent placement, and consulting services. The company has seen its stock price drop 80% since its peak in 2022, leading to more Sell and Hold ratings than Buys [10][11] - The decline in RHI's stock is attributed to a post-COVID hiring moderation, with significant job losses reported, although the company believes the impact of AI on its business is overstated [12][13] - RHI's earnings are expected to drop by 45% this year, raising concerns about dividend coverage as the payout is projected to exceed earnings through at least the end of 2026 [14] Group 3: Crafting and Creativity Platform - Cricut (CRCT) boasts a high yield of 20.6% and operates as a creativity platform, offering machines and software for crafting. The company initiated a new semiannual dividend program despite declining profits [16][17] - The stock has seen a significant decline, leading to a yield increase above 20%, with analysts recommending selling the stock [19] - Despite a loyal user base and expected profit growth of over 20% in 2025, Cricut faces challenges with flat or declining revenues projected in the coming years, particularly if economic conditions affect holiday shopping [20][21]

Core Viewpoint - The article discusses four high dividend yield stocks, ranging from 7.9% to 20.6%, that are currently being overlooked by Wall Street analysts despite their potential for income generation [1][2]. Group 1: National Storage Affiliates Trust (NSA) - NSA is a self-storage REIT with a yield of 7.9%, operating 1,069 properties across 37 states and Puerto Rico, and is considered recession-resistant [3][4]. - The stock has experienced a 20% decline in 2025, attributed to lower earnings and occupancy rates, although similar trends are seen in competitors, indicating broader industry challenges [4][5]. - NSA's payout coverage is tightening, with expected earnings of $2.20 per share against a dividend payout of $2.28, leading to concerns about sustainability [5]. Group 2: Alexanders (ALX) - ALX, yielding 8.5%, is a concentrated landlord with significant reliance on a single tenant, Bloomberg, which accounts for 60% of its revenue [6][7]. - The company is facing financial difficulties, including a loan restructuring discussion after failing to repay a $300 million loan [7]. - Despite these issues, ALX has delivered double-digit total returns in 2025, outperforming the broader real estate sector [8]. Group 3: Robert Half (RHI) - RHI has a yield of 9.0% and operates in talent solutions and consulting, but its stock has plummeted 80% since its peak in 2022, leading to more Sell and Hold ratings than Buys [10][11]. - The company is facing challenges from AI's impact on job placements, although its CEO argues that the effects are overstated for experienced roles [14][15]. - RHI's dividend payout is projected to exceed earnings significantly, with expected profits dropping by 45% this year [15]. Group 4: Cricut (CRCT) - Cricut boasts a high yield of 20.6% and operates as a creativity platform, but its profitability is declining despite recent dividend commitments [17][18]. - The company has seen a significant drop in stock price, leading to a yield increase, yet analysts are pessimistic about its future growth prospects [19][20]. - Revenue projections indicate potential stagnation or decline, particularly if economic conditions affect holiday sales, which are crucial for the company [21].

Core Insights - ALX Oncology is a clinical-stage biotechnology company focused on developing novel therapies for cancer treatment and improving patient survival [1][3] - The company will participate in two significant healthcare conferences: the Jefferies Global Healthcare Conference in London and the Piper Sandler 37th Annual Global Healthcare Conference in New York [1][2] Conference Details - Jefferies Global Healthcare Conference: - Format: Fireside Chat - Date: November 19, 2025 - Time: 11:30 AM GMT / 6:30 AM EST - Location: London, UK [2] - Piper Sandler 37th Annual Global Healthcare Conference: - Format: Fireside Chat - Date: December 3, 2025 - Time: 9:30 AM EST - Location: New York, NY [2] Company Pipeline - ALX Oncology's lead candidate, evorpacept, is positioned as a potential cornerstone therapy in immuno-oncology and is undergoing multiple clinical trials across various cancer indications [3] - The second candidate, ALX2004, is an EGFR-targeted antibody-drug conjugate that began Phase 1 trials in August 2025 [3]

Core Insights - Three stocks with strong income characteristics and buy rank are highlighted for investors to consider on November 13 Group 1: Company Performance - Alexander's, Inc. (ALX) has seen a 7% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Preferred Bank (PFBC) has experienced a 5.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Weatherford International plc (WFRD) has recorded an 8.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] Group 2: Dividend Yield Comparison - Alexander's, Inc. (ALX) offers a dividend yield of 8%, significantly higher than the industry average of 4.8% [1] - Preferred Bank (PFBC) has a dividend yield of 3.3%, slightly above the industry average of 3.1% [2] - Another company mentioned has a dividend yield of 1.3%, compared to an industry average of 0.0% [3]

Financial Data and Key Metrics Changes - The third-quarter comparable FFO was $0.57 per share, up from $0.52 per share in the same quarter last year, beating analyst consensus by $0.02 [20] - Same-store GAAP NOI for the New York business overall increased by 9.1% for the quarter, while same-store cash NOI decreased by 7.4% [21] - The net debt-to-EBITDA ratio improved to 7.3 times from 8.6 times at the start of the year, with immediate liquidity at $2.6 billion [24] Business Line Data and Key Metrics Changes - Vornado leased 3.7 million sq ft overall in the first nine months of 2025, with 2.8 million sq ft in Manhattan office space [9] - Average starting rents for Manhattan office leasing during the first nine months were $99 per sq ft, with mark-to-markets of +11.9% GAAP and +8.3% cash [10] - In the third quarter, 21 New York office deals were executed totaling 594,000 sq ft at starting rents of $103 per sq ft, with mark-to-markets of +15.7% GAAP and +10.4% cash [11] Market Data and Key Metrics Changes - Manhattan office leasing activity is on pace to exceed 40 million sq ft for the year, the highest since 2019 [8] - The vacancy rate for Midtown core better buildings is now down to 6.2% [7] - New York office occupancy increased to 88.4% from 86.7% last quarter, primarily due to leasing activity at Penn 2 [22] Company Strategy and Development Direction - The company is focused on the Penn District as a growth engine, with plans for a 475-unit rental residential building and retail redevelopment [12][14] - The acquisition of 623 Fifth Avenue is aimed at transforming it into a high-end boutique office building, with redevelopment expected to deliver space by year-end 2027 [15][16] - The Manhattan retail market is showing strength, with tenants approaching landlords for early renewals to lock in spaces [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand for office space in New York City, noting that tenant demand is robust and broad-based across industries [6] - The company expects 2025 comparable FFO to be slightly higher than 2024, with significant earnings growth anticipated in 2027 as the full impact of Penn 1 and Penn 2 leases takes effect [21] - Management highlighted the strong leasing fundamentals and liquidity in the capital markets for New York City assets [23][24] Other Important Information - The company is the largest owner of signage in New York City, with signage revenue for 2025 projected to be the highest year ever [17][18] - A recent court ruling vacated the arbitration panel's Penn 1 ground lease rent reset, but management remains optimistic about a reversal on appeal [19] Q&A Session Summary Question: How is the leasing strategy changing at Penn 2 with only 20% of the building left? - Rents have increased, with average rent at $112/sq ft at Penn 2, and the company is confident in their approach with many deals in the works [26] Question: How will the leasing of 623 Fifth Avenue be approached? - The company plans to market the building similarly to 220 Central Park South, with high aspirations once designs are completed [28] Question: What is the current signed-not-open pipeline in terms of dollar value? - The company indicated a projection of over $200 million in revenue from signed leases over the next two years, with the bulk coming in 2027 [29][30] Question: What is the expected trajectory of occupancy next year? - Management anticipates occupancy could reach the low 90s over the next year, with a reasonable probability of reaching 90% in the next quarter or two [34][36] Question: What are the plans for proceeds from non-core asset sales? - Proceeds could be used for strengthening the balance sheet or for compelling external opportunities, with a focus on internal development projects [41] Question: How does the company view the signage business in the Penn District? - The company owns 100% of the signs in the Penn District, allowing for optimized income and steady growth in signage revenue [33][32]

Core Insights - Alexander's, Inc. reported a decrease in net income for Q3 2025, with net income at $6.0 million ($1.16 per diluted share), down from $6.7 million ($1.30 per diluted share) in Q3 2024 [1][8] - Funds from operations (FFO) for Q3 2025 increased to $14.9 million ($2.91 per diluted share), compared to $14.6 million ($2.84 per diluted share) in Q3 2024 [2][9] - For the nine months ended September 30, 2025, net income was $24.4 million ($4.75 per diluted share), a decline from $31.2 million ($6.07 per diluted share) in the same period of 2024 [3][13] - FFO for the nine months ended September 30, 2025, was $50.5 million ($9.84 per diluted share), down from $57.1 million ($11.13 per diluted share) in the prior year [3][14] Financial Performance - Q3 2025 revenues were reported at $53.4 million, a decrease from $55.7 million in Q3 2024 [8] - The weighted average shares outstanding for Q3 2025 were 5,135,956, slightly up from 5,133,534 in Q3 2024 [9] - For the nine months ended September 30, 2025, total revenues were $159.9 million, down from $170.5 million in the same period of 2024 [13] Company Overview - Alexander's, Inc. operates as a real estate investment trust (REIT) with five properties located in New York City [4]

Financial Performance - Net income for the three months ended September 30, 2025, was $5,968,000, or $1.16 per diluted share, a decrease from $6,678,000, or $1.30 per diluted share in the prior year [85]. - Funds from operations (FFO) for the three months ended September 30, 2025, was $14,920,000, or $2.91 per diluted share, compared to $14,582,000, or $2.84 per diluted share in the prior year [85]. - FFO for the nine months ended September 30, 2025, was $50,524,000, or $9.84 per diluted share, down from $57,123,000, or $11.13 per diluted share in the prior year [119]. Revenue and Occupancy - Rental revenues for the nine months ended September 30, 2025, were $159,928,000, a decrease of $10,536,000 from $170,464,000 in the prior year [98]. - Bloomberg L.P. accounted for approximately 60% of rental revenues for the nine months ended September 30, 2025, with revenues of $96,655,000 [90]. - The commercial occupancy rate was 94.9% and the residential occupancy rate was 97.1% as of September 30, 2025 [88]. Cash Flow and Liquidity - Cash and cash equivalents and restricted cash decreased to $352,258,000 as of September 30, 2025, from $393,836,000 as of December 31, 2024 [107]. - The company anticipates that cash flow from continuing operations will be adequate to fund business operations and capital expenditures over the next twelve months [106]. - Net cash provided by operating activities for the nine months ended September 30, 2024, was $23,296,000, with net income of $31,167,000 and adjustments for non-cash items totaling $45,349,000 [112]. Debt and Financing - Interest and debt expense for the nine months ended September 30, 2025, was $37,673,000, a decrease of $14,041,000 from the prior year [103]. - The company is in discussions with lenders regarding a potential restructuring of a $300,000,000 non-recourse mortgage loan [87]. - Net cash used in financing activities was $175,824,000, which included $500,000,000 in debt repayments and $69,277,000 in dividends paid, partially offset by $400,000,000 in proceeds from borrowing [111]. Insurance and Risk Management - The company maintains general liability insurance with limits of $300,000,000 per occurrence and property insurance coverage of $1.7 billion per occurrence [113]. - The company continues to monitor the insurance market for coverage related to acts of terrorism, which could impact future financing capabilities [115]. Interest Rate Exposure - The company is exposed to fluctuations in interest rates, with a total variable rate balance of $499,355,000 at an average interest rate of 5.70% as of September 30, 2025 [122]. - The company has an interest rate cap on a mortgage loan with a notional amount of $199,355,000, capping SOFR at 4.15% through December 2025 [123]. Debt Valuation - The estimated fair value of consolidated debt as of September 30, 2025, was $983,675,000, compared to $967,941,000 as of December 31, 2024 [124].

Core Insights - Alexander's shares are yielding above 8% based on its quarterly dividend, which is annualized to $18, with stock prices as low as $224.25 on the trading day [1] - Dividends have historically contributed significantly to the total return of the stock market, exemplified by the iShares Russell 3000 ETF performance over a twelve-year period [1] - The comparison of dividend yield indicates that an 8% yield is attractive if sustainable, especially when considering the historical performance of dividends [1] Company Analysis - Alexander's is a member of the Russell 3000, highlighting its status as one of the largest companies in the U.S. stock markets [1] - The predictability of dividend amounts is influenced by the profitability of the company, making historical dividend charts essential for assessing future dividend sustainability [2]

Core Points - Alexander's, Inc. will file its quarterly report on Form 10-Q for the quarter ended September 30, 2025, with the U.S. Securities and Exchange Commission and will issue its third quarter earnings release on November 3, 2025, before the New York Stock Exchange opens [1] - Vornado Realty Trust, which manages Alexander's operations, will host a quarterly earnings conference call and audio webcast on November 4, 2025, at 10:00 a.m. Eastern Time [2] - The conference call can be accessed via a domestic number (888-317-6003) or an international number (412-317-6061) with a passcode of 8601197, and a live webcast will be available on Vornado's website [3] Company Overview - Alexander's, Inc. is a real estate investment trust that owns five properties in New York City [3]