Core Insights - Alexander's, Inc. reported significant financial growth for the year ended December 31, 2023, with net income increasing to $102.4 million from $57.6 million in 2022, driven by a net gain from the sale of a land parcel [5][9] - The company's revenues for the year reached $225 million, up from $205.8 million in the previous year, indicating a strong operational performance [8] - Funds from operations (FFO) for the year decreased to $81.1 million from $87.1 million, reflecting a decline in operational cash flow despite the increase in net income [5][9] Quarterly Financial Results - For the fourth quarter of 2023, net income was reported at $16.3 million, or $3.17 per diluted share, compared to $13.2 million, or $2.57 per diluted share in the same quarter of 2022 [3][4] - FFO for the fourth quarter was $25.6 million, or $4.99 per diluted share, up from $20.6 million, or $4.03 per diluted share in the fourth quarter of 2022 [4][7] Yearly Financial Results - The total revenues for the year ended December 31, 2023, were $224.96 million, an increase of approximately 9.3% from $205.81 million in 2022 [8] - The net income per common share for the year was $19.97, compared to $11.24 in the previous year, marking a substantial increase [8] - The weighted average shares outstanding for the year were slightly higher at 5,129,330 compared to 5,126,100 in 2022 [8][9]

Revenue and Financial Performance - Bloomberg accounted for revenue of $120,351,000, $115,129,000, and $113,140,000 in the years ended December 31, 2023, 2022, and 2021, representing approximately 54%, 56%, and 55% of total rental revenues respectively[12] - The company sold the Rego Park III land parcel for $71,060,000, with net proceeds of $67,821,000 after closing costs, resulting in a financial statement gain of $53,952,000[9] Ownership and Governance - Vornado owns 32.4% of the company's outstanding common stock, with key executives also holding an aggregate of 26.0% of the stock[10] - The company is classified as a "controlled" company, with Vornado and its affiliates owning 47.2% of the common stock, affecting governance requirements[18] - Vornado owns 32.4% of the company's outstanding common stock, and key executives collectively own 26.0% of the stock, indicating significant insider ownership[10] Sustainability Initiatives - Vornado's sustainability initiatives include a commitment to make its buildings carbon neutral by 2030, with over 25 million square feet of LEED certified buildings[13] - Vornado operates over 25 million square feet of LEED certified buildings, representing 95% of its in-service office portfolio, with over 24 million square feet at LEED Gold or Platinum[13] - Vornado's Vision 2030 plan aims to make its buildings carbon neutral by 2030, focusing on energy reduction, recovery, and renewable power[13] - The company received the "Green Star" distinction for the eleventh consecutive year and ranked 1 in the US Diversified Office/Retail REIT peer group by GRESB in 2023[13] - The company emphasizes transparency in sustainability reporting, publishing an annual ESG Report aligned with global standards[13] Competitive Environment - The company operates in a highly competitive environment in New York City, with principal factors of competition including rents charged and tenant concessions offered[15] - The company has 92 property-level employees providing cleaning, engineering, and security services, managed by Vornado[16] Risks and Uncertainties - The company is subject to various risks and uncertainties that could materially affect its future performance, as outlined in the risk factors section[6]

PARAMUS, N.J., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Alexander's, Inc. (NYSE:ALX) today announced that its Board of Directors has declared a regular quarterly dividend of $4.50 per share payable on March 1, 2024 to stockholders of record on February 20, 2024. Alexander's, Inc. is a real estate investment trust that has five properties in the New York City metropolitan area. CONTACT:GARY HANSEN(201) 587-8541 Certain statements contained herein constitute forward-looking statements as such term is defined in Sect ...

Aerial_Views/iStock via Getty Images Alexander's, Inc. (NYSE:ALX), founded in 1928 and headquartered in Paramus, NJ, is a REIT that owns, (re)develops, leases, and manages 5 retail properties in New York City through its manager, Vornado Realty Trust (VNO). The REIT's operating performance is concerning and there are many risks here, with a potential dividend cut being the most important one for those interested in the yield. At the same time, it's not trading as low as I'd expect which makes it a no-go ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number: 001-06064 ALEXANDERS INC (Exact name of registrant as specified in its charter) Delaware 51-0100517 | --- | --- | |---------- ...

Financial Data and Key Metrics Changes - The second quarter comparable FFO as adjusted was $0.72 per share, down from $0.83 in the same quarter last year, representing a decrease of $0.11 or 13.3%, primarily due to higher net interest expense from increased rates [10][11] - The principal difference in numbers compared to last year is attributed to the rise in interest rates, with the overall economy being more resilient than expected despite the Fed's historic interest rate hikes [8][11] Business Line Data and Key Metrics Changes - The New York cash same-store office business was up 3%, while the overall New York business increased by 2.7% [11] - During the second quarter, 19 leases totaling 279,000 square feet were completed, with starting rents at $91.57 per square foot, reflecting a positive mark-to-market of 5.7% cash and 9.9% GAAP [14] - The average starting rents for the first six months of the year were $99 per square foot, indicating a trend upward in rental rates [14] Market Data and Key Metrics Changes - Leasing activity was led by strong demand from traditional industries, particularly financial services and law firms, which accounted for almost 40% of the 5.2 million square feet leased in the quarter [13] - Midtown accounted for 70% of the quarter's leasing activity, with 75% of that leasing occurring in Class A properties, reinforcing the flight to quality theme [13] Company Strategy and Development Direction - The company aims to conserve cash, protect its balance sheet, and raise cash through selective asset sales to reduce debt and buy back stock [9] - The Penn District is highlighted as a key area for growth, with significant potential for shareholder value creation as new developments come online [9] Management's Comments on Operating Environment and Future Outlook - Management believes that the current narrative around office spaces is shortsighted, similar to the past perceptions of malls, and expects a recovery in the office sector [8] - The financing markets remain highly constrained, particularly for office assets, but the company is in a strong position with no material maturities until mid-2024 [18][20] Other Important Information - The company has a strong liquidity position of $3.2 billion, including $1.3 billion in cash and restricted cash [20] - The company is actively working on selling assets, including four small retail assets in Manhattan, which are expected to close in the third quarter [19] Q&A Session Summary Question: Can you elaborate on the leasing pipeline and how much relates to PENN2? - Approximately 40% of the leasing activity was at PENN1, with a strong pipeline of nearly 600,000 square feet of leases in negotiation [23][25] Question: What is the updated thought on the dividend and asset sales? - The company is opportunistic about selling assets and will evaluate the dividend based on cash versus stock mix at the end of the year [26][27] Question: Can you provide insight into leasing activity in San Francisco and Chicago? - San Francisco has seen success with 555 Cal, while Chicago has a lack of tenant demand, particularly for larger spaces [46][48] Question: What are the expectations for NOI in retail and office for the second half of the year? - The company is not providing specific forecasts for the second half of the year [54] Question: Are there plans to sell a joint venture stake in the Farley building? - The company is not commenting on future plans for the Farley building but acknowledges its strong asset quality [56][59]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number: 001-06064 ALEXANDERS INC (Exact name of registrant as specified in its charter) Delaware 51-0100517 | --- | --- | --- | |--------- ...

Alexander's, Inc. (NYSE:ALX) Q1 2023 Earnings Conference Call May 2, 2023 10:00 AM ET Company Participants Steve Borenstein - Senior Vice President & Corporate Counsellor Steven Roth - Chairman & Chief Executive Officer Michael Franco - President & Chief Financial Officer Glen Weiss - Executive Vice President, Office Leasing & Co-Head of Real Estate Conference Call Participants Steve Sakwa - Evercore Alexander Goldfarb - Piper Sandler Michael Griffin - Citi John Kim - BMO Capital Camille Bonnel - Bank of Am ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number: 001-06064 ALEXANDERS INC (Exact name of registrant as specified in its charter) Delaware 51-0100517 | --- | --- | |-------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number: to 001-06064 ALEXANDERS INC (Exact name of registrant as specified in its charter) Delaware 51-0100517 (State or other jurisdiction of incorporation ...