Monday, real estate investment trust Alexander's, Inc. (ALX), reported higher funds from operations, or FFO, for its fourth quarter, aided by the a higher gain reversal of a portion of stock appreciation rights compensation expense.
Paramus, New Jersey-based Alexander's fourth-quarter FFO surged to $61.20 million or $11.98 per share from $39.41 million or $7.74 per share in the same quarter last year.
Net income applicable to the common shareholders for the quarter increased to $54.13 million or $10.60 per share from $33.93 million or $6.66 per share in the corresponding quarter last year.
Results for the quarter included $43.6 million or $8.54 per share for the reversal of a portion of stock appreciation rights compensation expense, compared with $16.1 million or $3.17 per share in the prior-year quarter.
Revenues for the quarter increased to $54.90 million from $52.30 million in the year-ago quarter.
For fiscal year 2008, FFO declined to $99.92 million or $19.60 per share from $136.28 million or $26.75 per share last year. Net income for 2008 decreased to $76.29 million or $14.96 per share from $114.34 million or $22.44 per share in the prior year. Revenues for the period increased to $211.10 million from $207.98 million last year.
ALX is currently trading at $147.10, up $0.61 or 0.42%, on a volume of 1,400 shares on the NYSE.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.