Alexander's, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 31, 2023 at 08:17 am EDT
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Alexander's, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 53.67 million compared to USD 49.82 million a year ago. Net income was USD 64.15 million compared to USD 14.81 million a year ago. Basic earnings per share from continuing operations was USD 12.51 compared to USD 2.89 a year ago. Diluted earnings per share from continuing operations was USD 12.51 compared to USD 2.89 a year ago.
For the six months, sales was USD 106.61 million compared to USD 99.04 million a year ago. Net income was USD 75.37 million compared to USD 29.35 million a year ago. Basic earnings per share from continuing operations was USD 14.7 compared to USD 5.73 a year ago. Diluted earnings per share from continuing operations was USD 14.7 compared to USD 5.73 a year ago.
Alexander's, Inc. is a real estate investment trust (REIT). The Company is engaged in leasing, managing, developing and redeveloping its properties. It is managed by, and its properties are leased and developed by, Vornado Realty Trust (Vornado). It has five properties in New York City consisting of 731 Lexington Avenue, a 1,079,000 square foot multi-use building comprising the entire block bounded by Lexington Avenue, East 59th Street, Third Avenue and East 58th Street in Manhattan; Rego Park I, a 338,000 square foot shopping center, is located on Queens Boulevard and 63rd Road in Queens; Rego Park II, a 616,000 square foot shopping center, is located adjacent to the Rego Park I shopping center in Queens; Flushing, a 167,000 square foot building, located on Roosevelt Avenue and Main Street in Queens, and The Alexander apartment tower, located above its Rego Park II shopping center, contains 312 units aggregating 255,000 square feet.
ALEXANDER'S, INC. 
