Alexander’s: 2Q Earnings Snapshot
Posted August 3, 2020 9:11 am.
Last Updated August 3, 2020 9:24 am.
This article is more than 5 years old.
PARAMUS, N.J. (AP) _ Alexander’s Inc. (ALX) on Monday reported a key measure of profitability in its second quarter.
The Paramus, New Jersey-based real estate investment trust said it had funds from operations of $18 million, or $3.51 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 $12.3 million, or $2.41 per share.
The real estate investment trust posted revenue of $45.5 million in the period.
The company’s shares have decreased 24% since the beginning of the year. The stock has fallen 31% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALX at https://www.zacks.com/ap/ALX
The Associated Press
