Alexander's Announces First Quarter Financial Results

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]