Alexander’s Inc ( (ALX) ) has released its Q4 earnings. Here is a breakdown of the information Alexander’s Inc presented to its investors.
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Alexander’s Inc. is a real estate investment trust that owns and operates five properties in New York City, focusing primarily on the property management sector.
In their recent earnings report for the fourth quarter of 2024, Alexander’s Inc. reported a decrease in net income and funds from operations compared to the same period in the previous year. The company highlighted a decrease in net income to $12.3 million from $16.3 million year-over-year for the quarter.
Key performance metrics revealed that Alexander’s Inc. experienced a decline in funds from operations, which stood at $20.8 million for the fourth quarter of 2024, compared to $25.6 million in the fourth quarter of 2023. On an annual basis, net income for 2024 was significantly lower at $43.4 million, compared to $102.4 million in 2023, a year which included a substantial gain from the sale of a land parcel. The company’s annual funds from operations also saw a slight decrease, from $81.1 million in 2023 to $78.0 million in 2024.
Looking forward, Alexander’s Inc. continues to navigate the complexities of the real estate market with cautious optimism. The company’s management remains focused on maintaining its property portfolio and securing stable financial performance amidst changing market conditions.
