Alexander’s: 2Q Earnings Snapshot
PARAMUS, N.J. (AP) _ Alexander’s Inc. (ALX) on Monday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Paramus, New Jersey, said it had funds from operations of $24.3 million, or $4.75 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $11.3 million, or $2.20 per share.
The real estate investment trust posted revenue of $55.9 million in the period.
The company’s shares have increased 24% since the beginning of the year. The stock has decreased slightly in the last 12 months.