ALX
Alexander's, Inc.216.80
+0.54+0.25%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
1.11BP/E (TTM)
30.41Basic EPS (TTM)
7.13Dividend Yield
0.08%Recent Filings
8-K
Sells Rego Park I for $202M net
Alexander's subsidiary agreed to sell its vacant Rego Park I shopping center in Queens to Northwell Health for $235.5 million cash on March 6, 2026, expecting $202 million net proceeds and a $147 million financial gain upon closing by Q3 2026. The 338,000 sq ft property, recently vacated by relocating tenants to adjacent Rego Park II, sits unencumbered on 5.9 acres. Closing hinges on customary conditions.
10-K
FY2025 results
Alexander's FY2025 rental revenues fell 6% y/y to $213M, driven by Home Depot's $14M lease expiration at 731 Lexington retail and IKEA's $9M exit from Rego Park I, partially offset by $4M from new Rego Park II leases and $2M from Bloomberg's extension. Net income dropped to $28M ($5.50/share) from $43M ($8.46/share), with FFO at $63M ($12.27/share) versus $78M ($15.19/share). Bloomberg drove 61% of revenues ($129M, up 3% y/y), while 731 Lexington generated 67% of rental revenues ($144M, down 6% y/y). Total debt fell to $837M (4.8% weighted average rate) after refinancing Rego Park II at SOFR+2% ($175M) and restructuring 731 Lexington retail ($168M PIK at 4.55%). Q4 momentum slowed amid retail vacancies. Kohl's closure threatens leasing momentum.
8-K
Restructures 731 Lex retail loan
Alexander's subsidiaries restructured the $300 million mortgage on 731 Lexington Avenue retail units, splitting it into a $132.5 million A-Note at 7% (purchased by affiliate at par), $167.5 million C-Note at 4.55%, and a new B-Note at up to 13.5%, all extending to 2035. Cash flows prioritize A-Note, then B-Note, then 70/30 split to C-Note and borrower. Debt forgiven post-refinancing after year three. Non-recourse, but bad-boy carveouts apply.
8-K
Refinances Rego Park II loan
Alexander's completed a $175 million refinancing of its 615,000 square foot Rego Park II shopping center on December 5, 2025. The interest-only loan at SOFR plus 2.00% (currently 5.82%) matures December 2030, paying down the prior $198.5 million loan at SOFR plus 1.45% due December 12, 2025, by $23.5 million. Costlier debt extends maturity five years. Interest rate fluctuations pose risks.
10-Q
Q3 FY2025 results
Alexander's rental revenues dipped 4.0% y/y to $53.4M in Q3 FY2025 ended September 30, 2025, mainly from Home Depot's lease expiration at 731 Lexington Avenue, yet net income held steady at $6.0M or $1.16 per diluted share on lower interest costs from prior refinancing. YTD revenues fell 6.2% to $159.9M with net income down to $24.4M or $4.75 per share, reflecting IKEA's earlier exit too. Operating cash flow surged to $50.0M YTD, yielding $31.0M free cash flow after $19.0M capex (derived). Cash sits at $286.1M with $66.1M restricted, but the $300M retail mortgage missed its October 3 extension deadline amid restructuring talks. Bloomberg anchors 60% of rents through 2040. Tenant concentration looms large.
AKR
Acadia Realty Trust
19.78-0.40
ALEX
Alexander & Baldwin, Inc.
20.98+0.02
ARE
Alexandria Real Estate Equities
46.97-0.44
BRX
Brixmor Property Group Inc.
25.57-0.50
EQIX
Equinix, Inc.
758.15-3.23
LXP
LXP Industrial Trust
50.00+0.02
MAC
Macerich Company (The)
18.30-0.29
REG
Regency Centers Corporation
67.16-1.09
SITC
SITE Centers Corp.
6.31-0.06
UE
Urban Edge Properties
19.46-0.21