ALEXANDERS INC ALX
Alexander's, Inc. (NYSE: ALX) is a real estate investment trust ("REIT"), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to "we," "us," "our," "Company" and "Alexander's" refer to Alexander's, Inc. and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust ("Vornado") (NYSE: VNO).
•731 Lexington Avenue, a 1,080,000 square foot multi-use building, comprising the entire block bounded by Lexington Avenue, East 59th Street, Third Avenue and East 58th Street in Manhattan. The building contains 952,000 and 128,000 of rentable square feet of office and retail space, respectively. Bloomberg L.P. ("Bloomberg") occupies all of the office space. The Home Depot (83,000 square feet) was the principal retail tenant at the property until its lease expired on January 31, 2025;
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $213.2M | $226.4M | $225.0M | $205.8M | $206.1M | $199.1M | $226.3M | $232.8M | $230.6M | $226.9M |
| SG&A | $6.6M | $6.5M | $6.3M | $6.1M | $5.9M | $6.3M | $5.8M | $5.3M | $5.3M | $5.4M |
| Total operating expenses | $148.0M | $144.5M | $140.4M | $126.3M | $130.0M | $127.1M | $126.9M | $132.2M | $125.3M | $121.5M |
| Operating income | — | — | — | — | — | — | — | $100.6M | $105.3M | $105.5M |
| Pre-tax income | — | — | — | — | — | — | — | $56.6M | $80.5M | $86.5M |
| Income tax | — | — | — | — | — | — | — | $4.0K | $3.0K | $48.0K |
| Net income | $28.2M | $43.4M | $102.4M | $57.6M | $132.9M | $41.9M | $60.1M | $32.8M | $80.5M | $86.5M |
| EPS, basic | 5.50 | 8.46 | 19.97 | 11.24 | 25.94 | 8.19 | 11.74 | — | — | — |
| EPS, diluted | 5.50 | 8.46 | 19.97 | 11.24 | 25.94 | 8.19 | 11.74 | 6.42 | 15.74 | 16.91 |
| Shares, diluted (wtd. avg.) | $5.1M | $5.1M | $5.1M | $5.1M | $5.1M | $5.1M | $5.1M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $128.2M | $338.5M | $531.9M | $194.9M | $463.5M | $428.7M | $298.1M | $283.1M | $307.5M | $288.9M |
| Short-term investments | — | — | $0 | $267.0M | $0 | — | — | — | — | — |
| Total assets | $1.11B | $1.34B | $1.40B | $1.40B | $1.39B | $1.40B | $1.27B | $1.29B | $1.63B | $1.45B |
| Total liabilities | $1.00B | $1.16B | $1.17B | $1.16B | $1.14B | $1.20B | $1.01B | $1.00B | $1.29B | $1.10B |
| Retained earnings | $69.2M | $133.4M | $182.3M | $172.2M | $206.9M | $166.2M | $216.4M | $248.4M | $302.5M | $309.0M |
| Total equity | $109.2M | $176.9M | $237.7M | $236.5M | $252.6M | $203.2M | $253.5M | $285.1M | $344.0M | $352.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $73.4M | $54.1M | $109.1M | $102.5M | $118.5M | $78.1M | $126.1M | $73.5M | $123.4M | $130.8M |
| Depreciation and amortisation | $38.1M | $37.9M | $34.5M | $31.5M | $34.6M | $35.1M | $36.5M | $38.5M | $38.7M | $36.4M |
| Stock-based compensation | $394.0K | $450.0K | $450.0K | $450.0K | $450.0K | $600.0K | $394.0K | $394.0K | $394.0K | — |
| Investing cash flow | -$20.8M | -$13.2M | $321.8M | -$279.3M | $75.5M | -$32.5M | -$9.4M | -$1.1M | -$202.0M | -$15.5M |
| Financing cash flow | -$254.3M | -$200.0M | -$92.4M | -$92.3M | -$160.3M | $90.3M | -$92.1M | -$176.2M | $97.1M | -$85.3M |
| Dividends paid | $92.4M | $92.4M | $92.3M | $92.3M | $92.2M | $92.2M | $92.1M | $92.1M | $87.0M | $81.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-145567.
Others in SIC 6798
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| WELL | WELLTOWER INC. | $166.72B | 169.9x | 40.2% |
| PLD | Prologis, Inc. | $128.05B | 38.6x | 7.2% |
| EQIX | EQUINIX INC | $102.22B | 75.3x | 5.4% |
| AMT | AMERICAN TOWER CORP /MA/ | $81.93B | 32.6x | 20.8% |
| SPG | SIMON PROPERTY GROUP INC. | $67.86B | 14.8x | 6.7% |
| DLR | DIGITAL REALTY TRUST, INC. | $66.20B | 52.6x | 10.0% |
| O | REALTY INCOME CORP | $57.96B | 52.4x | 9.1% |
| PSA | Public Storage | $53.04B | 33.5x | 2.7% |