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Alexander's (ALX)
NYSE:ALX
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Alexander's
(NYSE:ALX)
73Outperform
Alexander's (ALX) vs. S&P 500 (SPY)
Market Cap
$1.07B
Dividend Yield8.52%
Average Volume (3M)16.12K
Price to Earnings (P/E)24.8
Beta (1Y)0.78
Revenue Growth0.63%
EPS Growth-57.61%
CountryUS
Employees90
SectorReal Estate
Sector Strength62
IndustryREITs
Share Statistics
EPS (TTM)8.46
Shares Outstanding5,107,290
10 Day Avg. Volume17,149
30 Day Avg. Volume16,118
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)4.79
Price to Cash Flow (P/CF)8.80
P/FCF Ratio6.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Alexander's Business Overview & Revenue Model
Company DescriptionAlexander's, Inc. is a real estate investment trust which has seven properties in the greater New York City metropolitan area.
How the Company Makes MoneyAlexander's, Inc. generates revenue primarily through leasing its commercial properties. The company earns rental income from its tenants, which include retail stores, office spaces, and other commercial entities. Additionally, ALX may increase its revenue through strategic property development and redevelopment projects that enhance the value of its real estate holdings. The company benefits from its strategic location in high-demand areas, which helps maintain high occupancy rates and competitive rental pricing. As a REIT, Alexander's must distribute a significant portion of its taxable income to shareholders in the form of dividends, aligning its business model to focus on regular income generation and value appreciation of its assets.
Alexander's Financial Statement Overview
Summary
Alexander's financials present a mixed picture: solid cash flow generation and reduced debt enhance resilience, but the abrupt halt in revenue and declining equity raise concerns. The company needs to address these challenges to maintain financial health.Income Statement
The income statement shows fluctuating revenue trends with a recent significant drop in total revenue to zero in the latest year, impacting profitability metrics. Historical data indicates stable gross profit margins and improving net income in prior years, but the current lack of revenue presents a substantial risk.65
Positive
Balance Sheet
The balance sheet exhibits a strong equity position with zero debt in the most recent period, enhancing financial stability. However, the consistently high total liabilities relative to assets and a declining equity base over recent years could constrain future growth.70
Positive
Cash Flow
Cash flow statements reveal strong operating cash flows and free cash flow generation, which are key strengths. However, decreasing cash flow from operations in the latest period, coupled with significant financing outflows, may pressure liquidity.75
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 197.65M | 226.37M | 224.96M | 205.81M | 206.15M | 199.14M |
| Gross Profit | |||||
| 112.16M | 226.37M | 123.75M | 115.37M | 185.01M | 110.74M |
| EBIT | |||||
| 75.48M | 0.00 | 117.41M | 86.23M | 76.84M | 74.74M |
| EBITDA | |||||
| 104.63M | 144.16M | 117.41M | 117.69M | 111.43M | 109.86M |
| Net Income Common Stockholders | |||||
| 108.60M | 43.44M | 102.41M | 29.03M | 132.93M | 17.73M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 338.53M | 338.53M | 531.86M | 461.90M | 463.54M | 434.73M |
| Total Assets | |||||
| 1.34B | 1.34B | 1.40B | 1.40B | 1.39B | 1.40B |
| Total Debt | |||||
| 1.10B | 1.10B | 1.11B | 1.09B | 1.09B | 1.16B |
| Net Debt | |||||
| 764.61M | 764.61M | 581.15M | 896.12M | 626.07M | 727.46M |
| Total Liabilities | |||||
| 1.16B | 1.16B | 1.17B | 1.16B | 1.14B | 1.20B |
| Stockholders Equity | |||||
| 176.86M | 176.86M | 237.66M | 236.50M | 252.59M | 203.23M |
| Cash Flow | Free Cash Flow | ||||
| 149.27M | 54.11M | 109.11M | 102.55M | 118.47M | 78.07M |
| Operating Cash Flow | |||||
| 149.27M | 54.11M | 109.11M | 102.55M | 118.47M | 78.07M |
| Investing Cash Flow | |||||
| -128.56M | -13.22M | 321.81M | -279.27M | 75.46M | -32.46M |
| Financing Cash Flow | |||||
| -160.28M | -200.03M | -92.42M | -92.31M | -160.29M | 90.29M |
Alexander's Technical Analysis
Positive
212.40
Price Trends
202.08
Positive
204.72
Positive
211.19
Positive
Market Momentum
2.30
Positive
53.40
Neutral
19.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALX, the sentiment is Positive. The current price of 212.4 is below the 20-day moving average (MA) of 213.78, above the 50-day MA of 202.08, and above the 200-day MA of 211.19, indicating a neutral trend. The MACD of 2.30 indicates Positive momentum. The RSI at 53.40 is Neutral, neither overbought nor oversold. The STOCH value of 19.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ALX.
Alexander's Risk Analysis
Alexander's disclosed 37 risk factors in its most recent earnings report. Alexander's reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Alexander's Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.07B | 24.78 | 20.96% | 8.52% | 0.63% | -57.61% | |
68 Neutral | $1.33B | 28.44 | 5.12% | 1.74% | 3.83% | -5.55% | |
63 Neutral | $30.53B | 349.82 | 0.80% | 2.64% | 9.48% | ― | |
61 Neutral | $4.73B | 18.32 | -3.52% | 11.32% | 5.97% | -21.87% | |
60 Neutral | $11.92B | 757.85 | 0.23% | 5.69% | 4.10% | -92.47% | |
58 Neutral | $14.39B | 919.24 | 1.32% | 1.91% | -1.30% | -80.81% | |
52 Neutral | $4.45B | 752.42 | 0.71% | 5.11% | 5.12% | ― |
* Real Estate Sector Average
Performance Comparison
ALX
Alexander's
212.40
12.33
6.16%
BXP
Boston Properties
68.32
5.68
9.07%
SLG
SL Green Realty
58.33
5.55
10.52%
VTR
Ventas
67.97
25.45
59.85%
VNO
Vornado Realty
37.70
9.41
33.26%
ESRT
Empire State Realty
7.95
-2.03
-20.34%
Alexander's Earnings Call Summary
Earnings Call Date: Feb 10, 2025 | % Change Since: 9.64% | Next Earnings Date: May 5, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong leasing activity, significant stock price increase, and successful redevelopment projects, particularly in the Penn District. However, the call also acknowledged a decline in comparable FFO, a slightly negative outlook for 2025, and the impact of high short-term interest rates on financial performance. Overall, the highlights suggest confidence in long-term growth, while the lowlights indicate short-term financial challenges.Highlights
Strong Leasing Activity in New York
Leased 3.34 million square feet overall, including 2.65 million square feet of New York office space with starting rents at $104, showing 2.5% cash and 10.9% GAAP mark-to-market.
Significant Stock Price Increase
Vornado's stock price increased by 49% in 2024, following a 35% increase in 2023.
First REIT to Achieve 100% LEED Certification
Vornado Realty Trust's entire portfolio is 100% LEED certified, marking a significant sustainability milestone.
Penn District Developments
Penn Two expected to be 80% leased by year-end with above-underwriting rents, indicating strong demand and successful redevelopment.
Successful Refinancing and Debt Management
Refinanced 1535 Broadway and repaid $450 million unsecured bonds, improving financial flexibility.
Lowlights
Decline in Comparable FFO
Comparable FFO was $2.26 per share for the year, down from 2023, due to lower NOI from known move-outs and higher net interest expense.
Negative Outlook for 2025
Expectations for 2025 earnings slightly lower than 2024 due to lease termination income impact and delays in vacancy backfilling.
High Short-Term Interest Rates
Short-term rates are expected to remain high, keeping borrowing costs elevated, impacting refinancing and overall financial performance.
Company Guidance
During the Vornado Realty Trust Fourth Quarter 2024 Earnings Conference Call, management highlighted several key metrics reflecting the company's positive trajectory. The company achieved a 49% increase in stock price for 2024, following a 35% rise in 2023. Leasing activity was robust, with 3.34 million square feet leased, including 2.65 million square feet of New York office space at an average starting rent of $104 per square foot. The office occupancy rate increased to 88.8%, and is expected to rise to 92.1% with the upcoming NYU master lease at 770 Broadway. Vornado also achieved 100% LEED certification across its portfolio. The company anticipates significant earnings growth by 2027, driven by positive market dynamics and leasing activity, despite predicting slightly lower results for 2025 compared to 2024.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.