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 $26.1 million, or $5.11 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 $17.6 million, or $3.43 per share.
The real estate investment trust posted revenue of $58.3 million in the period.
The company’s shares have dropped slightly more than 4 percent since the beginning of the year. The stock has fallen 13 percent in the last 12 months.