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Alexander's, Inc.
🏹 Trader: 🎯 Near 52W High | BRS 75 Ready View all →
$1.3B
Market Cap
39.6
P/E
PEG
8.0%
ROCE
19.7%
ROE
7.60
D/E
30.6%
OPM
-3.4%
% from 52W High
68
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for ALX including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Alexander’s, Inc. is a real estate investment trust (REIT) engaged in leasing, managing, developing and redeveloping properties.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding ALX
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 25.5K $6.0M 0.01% Mar 2026
Steve Cohen Point72 Asset Management 5.9K $1.4M 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED Vornado Realty Trust: Q1 FFO $0.52, Park Avenue Plaza acquisition accretive, $560M taxes
Revenue & Profitability
First quarter comparable FFO was $0.52 per share, down from $0.63 in Q1 2025, primarily due to reversal of prior year ground rent expense and higher net interest expense. Full-year 2026 comparable FFO is expected to be slightly higher than 2025, ramping up quarterly. The Park Avenue Plaza acquisition is expected to be approximately $0.10 accretive on a full year basis in the first year.
Outlook
Management describes a strengthening, long-lasting landlord's market in New York, with Manhattan leasing volume at the highest first-quarter level since 2014. They believe New York and San Francisco will be winners as intellectual capitals, with AI likely to create net positive office jobs. Geopolitical volatility (Middle East conflict) is a risk but has not yet changed tenant behavior.
Growth Drivers
Key growth levers include the lease-up of PENN 1 and PENN 2, the recent acquisition of Park Avenue Plaza (with rents 40-50% below market and an 11-year WALT), the redevelopment of 623 Fifth Avenue, and the potential 350 Park Avenue development (1.9M sq ft tower with Citadel as anchor). Management expects 2027 to have significant earnings growth.
Balance Sheet & CapEx
Capital is earmarked for Park Avenue Plaza, 623 Fifth Avenue, and 350 Park. For 350 Park, bulk of equity comes from land contribution; incremental capital likely not needed for three years. The company has $2.6B liquidity ($1.2B cash, $1.4B undrawn credit). They also have a $300M additional share buyback authorization.
Margins
Not discussed in this earnings call.
Key Risks
Risks flagged include geopolitical volatility (Middle East conflict), potential economic impact if the conflict lasts much longer, AI-related job disruption (though management believes it is overblown), and a spat between the mayor and Ken Griffin that could affect the 350 Park Avenue project. The master lease modification at 350 Park caused a negative earnings impact.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-04
Q2 2026 comparable FFO rose to $0.67 per share, driven by strong Manhattan leasing, higher rents, and robust demand across office and retail segments. Major redevelopment projects and asset sales are set to further boost liquidity and future earnings.
Q1 2026 Q1 2026 2026-05-05
Strong leasing momentum and strategic acquisitions are driving confidence in industry-leading growth over the next two years, with Manhattan and San Francisco office markets showing robust demand and rising rents. Liquidity remains high, and capital allocation is balanced between acquisitions, buybacks, and prudent leverage.
Q4 2025 Q4 2025 2026-02-10
Leasing and occupancy surged in Manhattan, driving strong FFO and NOI growth, with major developments like PENN 1, PENN 2, and 350 Park Avenue progressing. Liquidity and balance sheet metrics improved, and share buybacks increased amid robust market fundamentals.
Q3 2025 Q3 2025 2025-11-04
Leasing and rent growth in Manhattan reached record levels, with Penn District projects exceeding expectations and significant earnings growth projected for 2027 as new leases come online. Liquidity and balance sheet metrics improved, while retail and signage businesses are performing at historical highs.
Q1 2025 Q1 2025 2025-05-06
Strong Q1 driven by major leasing and asset sales, with FFO up year-over-year and robust liquidity. PENN District and 555 California outperformed, while NYU and Universal Music Group deals boosted earnings and occupancy. Outlook remains positive with rising rents and tightening supply.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
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