Alexander’s Inc ( (ALX) ) has released its Q1 earnings. Here is a breakdown of the information Alexander’s Inc presented to its investors.
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Alexander’s Inc., a real estate investment trust (REIT) based in Delaware, specializes in leasing, managing, developing, and redeveloping properties, primarily in New York City, and is managed by Vornado Realty Trust. The company recently released its earnings report for the first quarter of 2025, highlighting a decline in net income and rental revenues compared to the previous year. Key financial metrics from the report reveal a net income of $12.3 million, or $2.40 per share, down from $16.1 million, or $3.14 per share, in the same quarter last year. Rental revenues also decreased to $54.9 million from $61.4 million, primarily due to lease expirations with major tenants like Home Depot and IKEA. Operating expenses slightly increased, while interest and debt expenses decreased significantly due to lower interest rates and debt repayments. Looking ahead, Alexander’s Inc. remains focused on maintaining its occupancy rates and exploring new leasing opportunities to enhance its financial performance, despite the challenges posed by fluctuating interest rates and economic uncertainties.