Alexander's Inc (ALX)
NYSE:ALX
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Alexander's
(NYSE:ALX)
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Rating:51Neutral
Price Target:
$233.00
▲(9.83% Upside)
Action:ReiteratedDate:03/09/26
The score is primarily held back by high historical leverage and significant uncertainty from inconsistent latest-year financial reporting, despite generally strong historical profitability and cash generation. Technicals and valuation are both mixed (modest/neutral momentum and a high P/E offset by a high dividend yield), while recent portfolio and financing actions modestly improve the outlook.
Positive Factors
Cash generation
Alexander’s has historically produced consistent operating and free cash flow, with FCF covering net income in shown years. Durable cash generation supports dividend funding, capex for property upkeep, and gives the company a recurring internal liquidity source to absorb cyclical retail headwinds.
Negative Factors
High leverage
Historically very high debt-to-equity (4x–6x) leaves limited financial flexibility and raises sensitivity to interest rates and property cash-flow dips. For a REIT concentrated in NYC retail, elevated leverage amplifies downside risk and constrains the company's ability to absorb shocks or pursue opportunistic investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Alexander’s has historically produced consistent operating and free cash flow, with FCF covering net income in shown years. Durable cash generation supports dividend funding, capex for property upkeep, and gives the company a recurring internal liquidity source to absorb cyclical retail headwinds.
Read all positive factors
Alexander's (ALX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.25B
Dividend Yield8.39%
Average Volume (3M)52.52K
Price to Earnings (P/E)65.1
Beta (1Y)0.60
Revenue Growth-3.73%
EPS Growth-48.13%
CountryUS
Employees90
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)5.49
Shares Outstanding5,107,290
10 Day Avg. Volume42,219
30 Day Avg. Volume52,516
Financial Highlights & Ratios
PEG Ratio-1.13
Price to Book (P/B)10.25
Price to Sales (P/S)5.25
P/FCF Ratio15.24
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue6.20
Enterprise Value/Gross Profit8.01
Enterprise Value/Ebitda11.27
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)$216.40M
Alexander's Business Overview & Revenue Model
Company Description
Alexander's, Inc. is a real estate investment trust which has seven properties in the greater New York City metropolitan area....
How the Company Makes Money
Alexander's generates revenue primarily through leasing retail and commercial spaces to a variety of tenants, including national and regional retailers. The company's revenue model is centered on rental income, which is derived from long-term leas...
Alexander's Earnings Call Summary
Earnings Call Date:Feb 10, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
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.Positive Updates
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.
Negative Updates
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.
Read all updates
Q4-2024 Updates
Positive
Negative
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.
Read all positive updates
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.Alexander's Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
32
Negative
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 213.18M | 226.37M | 224.96M | 205.81M | 206.15M |
| Gross Profit | 34.24M | 226.37M | 123.75M | 205.81M | 206.15M |
| EBITDA | 114.91M | 144.16M | 117.41M | 117.69M | 184.86M |
| Net Income | 28.22M | 43.44M | 102.41M | 57.63M | 132.93M |
Balance Sheet | |||||
| Total Assets | 1.11B | 1.34B | 1.40B | 1.40B | 1.39B |
| Cash, Cash Equivalents and Short-Term Investments | 128.17M | 338.53M | 531.86M | 461.90M | 463.54M |
| Total Debt | 943.07M | 1.10B | 1.09B | 1.09B | 1.09B |
| Total Liabilities | 1.00B | 1.16B | 1.17B | 1.16B | 1.14B |
| Stockholders Equity | 109.16M | 176.86M | 237.66M | 236.50M | 252.59M |
Cash Flow | |||||
| Free Cash Flow | 73.44M | 54.11M | 109.11M | 102.55M | 118.47M |
| Operating Cash Flow | 73.44M | 54.11M | 109.11M | 102.55M | 118.47M |
| Investing Cash Flow | -20.79M | -13.22M | 321.81M | -279.27M | 75.46M |
| Financing Cash Flow | -254.27M | -200.03M | -92.42M | -92.31M | -160.29M |
Alexander's Technical Analysis
Positive
212.14
Price Trends
238.55
Positive
229.73
Positive
226.34
Positive
Market Momentum
2.34
Negative
63.45
Neutral
83.49
Negative
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 212.14 is below the 20-day moving average (MA) of 239.55, below the 50-day MA of 238.55, and below the 200-day MA of 226.34, indicating a bullish trend. The MACD of 2.34 indicates Negative momentum. The RSI at 63.45 is Neutral, neither overbought nor oversold. The STOCH value of 83.49 is Negative, 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
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.99B | 17.87 | 8.76% | 6.77% | 8.23% | 24.98% | |
70 Outperform | $1.95B | 7.70 | 11.37% | 3.97% | 4.00% | 33.58% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $1.97B | 79.09 | 0.78% | 4.61% | 20.51% | ― | |
63 Neutral | $836.78M | 29.33 | 11.77% | 7.89% | 8.10% | -33.61% | |
63 Neutral | $1.34B | 5.68 | 41.49% | 6.79% | 12.18% | 133.31% | |
51 Neutral | $1.25B | 65.05 | 20.68% | 8.39% | -3.73% | -48.13% |
* Real Estate Sector Average
ALX
Alexander's
243.82
51.21
26.58%
GTY
Getty Realty
32.99
6.62
25.12%
BFS
Saul Centers
34.16
3.49
11.36%
WSR
Whitestone REIT
18.96
6.63
53.71%
NTST
NETSTREIT
20.15
4.85
31.68%
CBL
CBL & Associates Properties
43.31
20.65
91.16%
Alexander's Corporate Events
Business Operations and StrategyM&A Transactions
Alexander’s to Sell Rego Park I Shopping Center
Positive
Mar 9, 2026
On March 6, 2026, Alexander’s subsidiary Alexander’s Rego Shopping Center LLC agreed to sell the Rego Park I shopping center in Queens to Northwell Health for $235.5 million in cash, with the company expecting net proceeds of $202 mill...
Business Operations and StrategyPrivate Placements and Financing
Alexander’s restructures 731 Lexington mortgage, extends maturity
Neutral
Dec 29, 2025
On December 23, 2025, Alexander’s, Inc. restructured the existing $300 million mortgage on the retail condominium units at its 731 Lexington Avenue property, extending the maturity to December 23, 2035 and splitting the debt into a $132.5 mi...
Business Operations and StrategyPrivate Placements and Financing
Alexander’s Completes $175 Million Refinancing Deal
Positive
Dec 9, 2025
On December 5, 2025, Alexander’s, Inc. completed a $175 million refinancing of its Rego Park II shopping center in Queens, New York. The new interest-only loan, maturing in December 2030, is set at SOFR plus 2.00%, currently 5.82%. This refi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.