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ALX

Alexander's, Inc.

ALX

Alexander's, Inc. • NYSE
$211.93 ▼ -0.10% (-0.21)
Market Cap $1.08 B
52w High $260.84
52w Low $184.76
Dividend Yield 18.00%
P/E 29.68
Volume 31.56K
Outstanding Shares 5.11M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $53.424M ▲ $35.197M ▼ $5.968M ▼ 11.171% ▼ $1.16 ▼ $29.867M ▲
Q2-2025 $51.589M ▼ $36.596M ▲ $6.12M ▼ 11.863% ▼ $1.19 ▼ $28.42M ▼
Q1-2025 $54.915M ▼ $35.754M ▼ $12.312M ▲ 22.42% ▲ $2.4 ▲ $32.495M ▼
Q4-2024 $55.91M ▲ $36.637M ▲ $12.277M ▲ 21.959% ▲ $2.39 ▲ $35.132M ▲
Q3-2024 $55.675M $33.403M $6.678M 11.995% $1.3 $33.911M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $352.258M ▲ $1.296B ▼ $1.168B ▼ $128.326M ▼
Q2-2025 $313.036M ▼ $1.321B ▼ $1.175B ▲ $145.447M ▼
Q1-2025 $319.897M ▼ $1.333B ▼ $1.17B ▲ $163.089M ▼
Q4-2024 $338.532M ▼ $1.341B ▼ $1.164B ▼ $176.859M ▼
Q3-2024 $354.817M $1.365B $1.174B $190.689M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $5.968M ▼ $-9.267M ▼ $-4.353M ▲ $-24.427M ▼ $-38.047M ▼ $-9.267M ▼
Q2-2025 $6.12M ▼ $43.567M ▲ $-6.612M ▲ $-24.295M ▼ $12.66M ▲ $43.567M ▲
Q1-2025 $12.312M ▲ $15.72M ▼ $-8.021M ▲ $-23.89M ▲ $-16.191M ▼ $15.72M ▼
Q4-2024 $12.277M ▲ $30.81M ▲ $-9.949M ▼ $-24.201M ▲ $-3.34M ▲ $30.81M ▲
Q3-2024 $6.678M $-5.031M $-3.654M $-118.516M $-127.201M $-5.031M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Direct Services
Direct Services
 $0 ▲$0 ▲$0 ▲$0 ▲
Parking
Parking
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has inched up over the past five years, showing a slow but steady build rather than rapid growth. Profitability, however, has been quite uneven. Some years show very strong earnings, others are much softer, which is typical for a small, concentrated REIT where even one lease change, refinancing, or property-related gain or loss can move the bottom line a lot. The most recent year shows healthy operations but noticeably lower net income compared with the stronger past years, suggesting higher costs, financing burdens, or fewer one‑off gains. Overall, the core rental engine looks stable, but reported earnings bounce around and should be viewed as inherently lumpy.

Balance Sheet

Balance Sheet The balance sheet is dominated by a relatively steady pool of real estate assets, with only minor changes over the period. Debt levels are high compared with the company’s equity, which is common for real estate trusts but still means the business is quite leveraged and sensitive to interest rates and property values. Cash on hand has moved up and down but remains meaningful, giving some flexibility even though it has recently declined from prior peaks. Equity has edged down in the latest year, reflecting distributions to shareholders and valuation movements, and underlines that there is not a large cushion if property values were to weaken materially.

Cash Flow

Cash Flow Cash generated from the properties has been consistently positive and fairly steady over time, with only modest year‑to‑year swings. Free cash flow essentially mirrors operating cash flow in the data, since there is little recorded capital spending, which may mean major redevelopment outlays are either behind them or not captured here. The latest year does show a dip in cash generation compared with the stronger prior years, which is worth monitoring, but not yet a clear trend. Overall, the portfolio continues to throw off cash, but the margin of safety against higher interest costs or weaker rents is not obvious from this high-level view.

Competitive Edge

Competitive Edge Alexander’s competitive strength is all about owning a handful of “trophy” and high-traffic properties in New York City, combined with professional management by Vornado Realty Trust. Prime locations like 731 Lexington Avenue, backed by a long-term lease with a major tenant such as Bloomberg, provide strong bargaining power and relatively stable rent streams. The Rego Center complex and associated residential tower add a mixed-use angle in a dense, supply-constrained market, which is hard for new entrants to replicate. On the other hand, concentration in just a few assets, in one metro area, and with heavy reliance on a single flagship tenant creates meaningful risk if any one relationship or submarket weakens. The external management structure provides scale and expertise but also means strategic control is tightly linked to Vornado’s priorities.

Innovation and R&D

Innovation and R&D This is not an innovation- or technology-driven story in the classic sense. The “innovation” here lies in how Alexander’s and Vornado manage and reposition high-value urban real estate. The company focuses on long-term, high-credit tenants, mixed-use complexes, and the potential to add value through redevelopment and better tenant mixes over time. Future upside is more likely to come from smart repositioning of existing properties—especially at Rego Center and other mixed-use sites—rather than new product lines or tech initiatives. Investors following this name typically watch Vornado’s broader redevelopment activity, tenant changes at key assets, and any moves to diversify the tenant or asset base as the main sources of future change.

Summary

Alexander’s is a small, highly focused New York City retail and mixed-use REIT whose story is defined by a few marquee properties and a deep partnership with Vornado. The top line has crept higher over time, but reported earnings have been volatile, reflecting the impact of leverage, one-off items, and concentration in a small portfolio. The balance sheet is asset-rich but heavily financed with debt, leaving the company exposed to interest-rate shifts and property value swings, though supported by prime locations and long-term leases. Cash flows from operations are steady and positive, suggesting the core portfolio is functioning well, even if recent cash generation has softened a bit. Strategically, the main opportunities lie in redevelopment and tenant optimization within an already strong footprint, while the main risks center on dependence on a few key assets and tenants, the health of New York’s office and retail markets, and the strategic choices made by Vornado as external manager.

NEWS

November 18, 2025 · 11:00 AM UTC

ALX Oncology to Present at Upcoming Investor Conferences

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November 7, 2025 · 8:15 AM UTC

ALX Oncology Reports Third Quarter 2025 Financial Results and Provides Corporate Update

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November 3, 2025 · 9:17 AM UTC

Alexander's Announces Third Quarter Financial Results

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October 30, 2025 · 8:30 AM UTC

ALX Oncology to Report Third Quarter 2025 Financial Results and Pipeline Progress Including Evorpacept CD47 Biomarker Data to be Presented at Upcoming SITC Annual Meeting

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October 29, 2025 · 1:37 PM UTC

Alexander's Declares Quarterly $4.50 Dividend on Common Shares

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