ALX Stock Recent News
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BSM, ALX and APAM made it to the Zacks Rank #1 (Strong Buy) income stocks list on September 26, 2023.
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ALX, GTY and ETD made it to the Zacks Rank #1 (Strong Buy) income stocks list on August 23, 2023.
KRP, ALX and SWRAY made it to the Zacks Rank #1 (Strong Buy) income stocks list on August 11, 2023.
CLS, STRL, TRNS, ALX and DDI have been added to the Zacks Rank #1 (Strong Buy) List on August 11, 2023.
Office real estate investment trusts in New York City are facing challenges as remote work and changing office dynamics impact demand. Some office markets in Florida, such as Tampa Bay and Sarasota, are experiencing a boom in demand and high occupancy rates. SL Green Realty, Vornado Realty Trust, and Empire State Realty Trust are three New York City-based office REITs that have reported second quarter financial results.
Office REITs in urban areas with long commutes will likely continue to struggle due in large measure to the WFH trend. Alexander's Inc. owns 5 properties in the New York metropolitan area, including the world headquarters of Bloomberg. Shares in ALX have been losing value for nearly 10 years and revenues are declining significantly.
Alexander's (ALX) came out with quarterly funds from operations (FFO) of $3.55 per share, beating the Zacks Consensus Estimate of $3.51 per share. This compares to FFO of $4.32 per share a year ago.
PARAMUS, N.J., July 19, 2023 (GLOBE NEWSWIRE) -- Alexander's, Inc. (NYSE: ALX) today announced that it will file its quarterly report on Form 10-Q for the quarter ended June 30, 2023 with the U.S. Securities and Exchange Commission and issue its second quarter earnings release on Monday, July 31, 2023, before the New York Stock Exchange opens.
The new pariah of the commercial real estate sector, Office REITs, have remained in free-fall in recent months, plunging another 30% this year following a plunge of nearly 40% last year. Just how bad is it? The surge in interest rates has turned a weak-but-manageable situation into a bleak one, but there is more nuance than what the prevailing narrative would suggest.