Core Insights - Alexander's, Inc. reported a decline in net income for Q1 2025, with net income at $12.3 million ($2.40 per diluted share), down from $16.1 million ($3.14 per diluted share) in Q1 2024 [1][6] - Funds from operations (FFO) also decreased to $20.8 million ($4.06 per diluted share) in Q1 2025, compared to $25.5 million ($4.98 per diluted share) in Q1 2024 [2][6] Financial Performance - Revenues for the quarter ended March 31, 2025, were $54.9 million, a decrease from $61.4 million in the same quarter of 2024 [6] - The weighted average shares outstanding for basic and diluted calculations were 5,133,534 for Q1 2025, slightly up from 5,130,678 in Q1 2024 [6] - Depreciation and amortization of real property for Q1 2025 was $8.5 million, compared to $9.4 million in Q1 2024 [7] FFO Reconciliation - The reconciliation of net income to FFO shows that net income was $12.3 million, with depreciation and amortization of real property adding $8.5 million, resulting in FFO of $20.8 million [7] - FFO is defined by NAREIT as GAAP net income adjusted for specific items, providing a measure for comparing operating performance across periods and peers [7]

Financial Performance - Net income for the quarter ended March 31, 2025, was $12,312,000, or $2.40 per diluted share, compared to $16,109,000, or $3.14 per diluted share in the prior year's quarter, representing a decrease of 23.5%[84] - Funds from operations (FFO) for the quarter ended March 31, 2025, was $20,842,000, or $4.06 per diluted share, down from $25,532,000, or $4.98 per diluted share in the prior year's quarter, a decrease of 18.4%[84] - Rental revenues decreased to $54,915,000 for the three months ended March 31, 2025, from $61,397,000 in the prior year's quarter, a decline of 10.6%[88] - FFO (non-GAAP) for Q1 2025 was $20,842,000, or $4.06 per diluted share, down from $25,532,000, or $4.98 per diluted share in Q1 2024, representing a decrease of 18.5% in FFO[109] - Net income for Q1 2025 was $12,312,000, compared to $16,109,000 in Q1 2024, indicating a decline of 23.3%[109] - The company’s FFO per diluted share decreased by 18.5% year-over-year, reflecting challenges in operational performance[109] Revenue Sources - Bloomberg L.P. accounted for approximately 59% of rental revenues for the three months ended March 31, 2025, compared to 49% in the prior year, highlighting significant reliance on a single tenant[87] Occupancy Rates - The commercial occupancy rate was 94.7% and the residential occupancy rate was 93.9% as of March 31, 2025[85] Operating Expenses - Operating expenses increased to $25,564,000 for the three months ended March 31, 2025, from $25,263,000 in the prior year's quarter, an increase of 1.2%[89] Interest and Debt Management - Interest and debt expense decreased to $10,794,000 for the three months ended March 31, 2025, from $16,234,000 in the prior year's quarter, a reduction of 33.5%[93] - The total fair value of consolidated debt as of March 31, 2025, was estimated at $972,192,000, slightly up from $967,941,000 as of December 31, 2024[114] - The company has a variable rate exposure of $201,754,000 at an interest rate of 5.60%, with a potential effect of a 1% change resulting in a $2,018 impact on earnings per share[112] - The company holds an interest rate cap on a mortgage loan with a notional amount of $201,754,000, capping SOFR at 4.15% through December 2025[112] - An interest rate swap related to a mortgage loan on a retail condominium has a notional amount of $300,000,000, swapping SOFR plus 1.51% for a fixed rate of 1.76% through May 2025[113] - The weighted average interest rate for fixed-rate debt is 3.52%, while the overall weighted average interest rate for total debt is 3.94%[112] Cash Flow and Future Outlook - Cash and cash equivalents and restricted cash were $377,645,000 as of March 31, 2025, down from $393,836,000 as of December 31, 2024, a decrease of 4.1%[96] - 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[95] Strategic Initiatives - The company is exploring sale and development opportunities for the Rego Park I property after relocating tenants to Rego Park II[86] Risk Factors - The company’s exposure to interest rate fluctuations remains a significant risk factor, impacting financial performance[111]

Company Overview - ALX Oncology Holdings Inc. is a clinical-stage biotechnology company focused on developing novel therapies for cancer treatment and improving patient survival [2] - The company's lead candidate, evorpacept, is positioned as a potential cornerstone therapy in immuno-oncology and is currently undergoing multiple clinical trials across various cancer indications [2] - ALX Oncology's second candidate, ALX2004, is an innovative EGFR-targeted antibody-drug conjugate expected to enter Phase 1 trials in mid-2025 [2] Financial Reporting - ALX Oncology plans to report its first quarter 2025 financial results on May 8, 2025, before the market opens [1] - The company will not hold a teleconference in conjunction with the financial results press release [1]

Core Viewpoint - The performance of Real Estate Investment Trusts (REITs) can vary significantly, with some struggling even in favorable conditions, while others can thrive and provide substantial returns during challenging times [1] Group 1 - REITs can be poor investments during the best of times [1] - Conversely, certain REITs can flourish and yield high returns during the worst of times [1]

Core Points - Alexander's, Inc. will file its quarterly report on Form 10Q for the quarter ended March 31, 2025, with the U.S. Securities and Exchange Commission and will issue its first quarter earnings release on May 5, 2025, before the market opens [1] - Vornado Realty Trust, which manages Alexander's operations, will host a quarterly earnings conference call and audio webcast on May 6, 2025, at 10:00 a.m. Eastern Time [2] - The conference call can be accessed via a domestic and international dialing option, and a live webcast will be available on Vornado's website [3] Company Overview - Alexander's, Inc. is a real estate investment trust (REIT) that owns five properties in New York City [3]

Group 1 - The recent heavy sell-off in the market has created opportunities in high-yield REITs, attracting investors seeking higher returns as a hedge against volatility [1] - There is a cautionary note that the yield advertised may not reflect the actual yield received, as companies have the ability to cut dividends [1]

Group 1 - NCR Atleos Corporation (NATL) has seen a 9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - BGC Group, Inc. (BGC) has experienced a 9.4% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Naspers Limited (NPSNY) has seen a 14.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Alexander's, Inc. (ALX) has experienced a 15% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Veeva Systems Inc. (VEEV) has seen a 4.5% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2]

Group 1 - Alexander's (ALX) has gained about 5.3% year-to-date, outperforming the average gain of 2.4% for Finance stocks [4] - The Zacks Rank for Alexander's is 2 (Buy), indicating a positive earnings outlook with a 15% increase in the consensus estimate for full-year earnings over the past 90 days [3] - Alexander's belongs to the REIT and Equity Trust - Other industry, which has seen a year-to-date gain of 4.3%, indicating that ALX is performing better than its peers in this specific group [5] Group 2 - Banco Bilbao (BBVA) has significantly outperformed the sector with a year-to-date return of 41.2% and has a Zacks Rank of 1 (Strong Buy) [4][5] - The Banks - Foreign industry, to which Banco Bilbao belongs, is ranked 29 and has moved up by 10.2% this year [6] - Investors interested in Finance stocks should closely monitor both Alexander's and Banco Bilbao for their solid performance [6]

Investors might want to bet on Alexander's (ALX) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, March 28:                     Alexander's, Inc. (ALX) : This real estate investment trust witnessed the Zacks Consensus Estimate for its current year earnings increasing 15% the last 60 days.This Zacks Rank #1 company has a dividend yield of 8.5%, compared with the industry average of 4.9%.Hanmi Financial Corporation (HAFC) : This holding company for Hanmi Bank has witnessed the Zacks Consensus Estimate fo ...