New York REIT Alexander's Posts Decline in 4Q Profit, Revenue

Dow Jones
02-10
 

By Denny Jacob

 

Alexander's, owner of five major properties in New York City, recorded lower profit and revenue in its fourth quarter.

The real estate investment company logged net income of $12.3 million, or $2.39 a share, compared to $16.3 million, or $3.17 a share, a year earlier.

Funds from operations, a non-GAAP metric, were $20.8 million, or $4.06 a share, down from $25.6 million, or $4.99 a share, in the year-ago quarter.

Quarterly revenue declined to $55.9 million from $62.9 million.

 

Write to Denny Jacob at denny.jacob@wsj.com

 

(END) Dow Jones Newswires

February 10, 2025 09:27 ET (14:27 GMT)

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