ALEXANDERS INC

Listed Company

ALXCIK 0000003499NYSEAcceleratedReal Estate Investment TrustsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$213.18M

Net Income

$28.22M

Total Assets

$1.11B

Equity

$109.16M

Shares Out

5.11M

Op. Cash Flow

$73.44M

Business

ALEXANDERS INC is a real estate investment trust that leases, manages, develops and redevelops commercial and residential properties, and is externally managed and serviced by Vornado Realty Trust. The company offers office, retail, shopping center and multifamily residential space, and provides property leasing, management, redevelopment and ground-lease arrangements. Its key operating properties include a large Manhattan mixed-use office and retail building, two adjacent Rego Park shopping centers, a Flushing retail building and an apartment tower above Rego Park II. Alexander’s conducts business primarily in New York City through direct leasing, subleasing and ground leases.

Summary from filing dated 2025-02-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental revenues	213	226	225	206	206
Operating, including fees to Vornado of $5,965, $6,581 and $6,480, respectively	−106	−103	−101	−90	−91
Depreciation and amortization	−35	−35	−33	−30	−33
General and administrative, including management fees to Vornado of $2,440 in each year	−7	−7	−6	−6	−6
Total expenses	−148	−145	−140	−126	−130
Interest and other income	15	24	22	7	639,000
Interest and debt expense	−52	−63	−58	−29	−20
Net gain on sale of real estate	0	0	54	0	70
Net income	28	43	102	58	133
Net income per common share, basic (usd per share)	5.5	8.46	19.97	11.24	25.94
Net income per common share, diluted (usd per share)	5.5	8.46	19.97	11.24	25.94
Weighted average shares outstanding - basic (in shares)	5	5	5	5	5
Weighted average shares outstanding - diluted (in shares)	5	5	5	5	5

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Land	32	32	32	33	33
Buildings and leasehold improvements	1,069	1,046	1,034	1,030	1,015
Development and construction in progress	2	7	281,000	22	22
Total	1,104	1,085	1,067	1,085	1,069
Accumulated depreciation and amortization	−473	−444	−416	−396	−371
Real estate, net	631	642	651	688	699
Cash and cash equivalents	128	339	532	195	464
Restricted cash	64	55	21	20	20
Tenant and other receivables	4	5	6	5	6
Receivable arising from the straight-lining of rents	109	112	125	127	135
Deferred leasing costs, net, including unamortized leasing fees to Vornado of $20,649 and $22,380, respectively	153	164	25	28	31
Other assets	22	25	44	67	36
Assets	1,111	1,341	1,404	1,398	1,392
Mortgages payable, net of deferred debt issuance costs	829	988	1,093	1,091	1,090
Accounts payable and accrued expenses	37	39	52	49	45
Lease incentive liabilities	114	115	0	—	—
Total liabilities	1,002	1,164	1,166	1,161	1,139
Commitments and contingencies	—	—	—	—	—
Preferred stock: $1.00 par value per share; authorized, 3,000,000 shares; issued and outstanding, none	0	0	—	—	—
Common stock: $1.00 par value per share; authorized, 10,000,000 shares; issued, 5,173,450 shares; outstanding, 5,107,290 shares	5	5	—	—	—
Additional capital	35	35	34	34	33
Retained earnings	69	133	182	172	207
Accumulated other comprehensive (loss) income	−9,000	4	16	26	7
Equity before treasury stock	110	177	238	237	253
Treasury stock: 66,160 shares, at cost	−368,000	−368,000	−368,000	−368,000	−368,000
Total equity	109	177	238	236	253
Total liabilities and equity	1,111	1,341	1,404	1,398	1,392

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization, including amortization of debt issuance costs	38	38	34	31	35
Amortization of deferred lease incentives	7	5	138,000	—	—
Straight-lining of rents	3	13	3	8	10
Stock-based compensation expense	394,000	450,000	450,000	450,000	450,000
Interest rate cap premium amortization	600,000	6	8	0	0
Other non-cash adjustments	2	−4	−2	−3	0
Tenant and other receivables	1	165,000	−572,000	2	2
Other assets	−3	−149	14	3	3
Amounts due to Vornado	−713,000	98,000	−60,000	40,000	−211,000
Accounts payable and accrued expenses	−1	−14	3	3	13
Lease incentive liabilities	−2	115	0	0	—
Other liabilities	−20,000	−19,000	−19,000	338,000	−664,000
Net cash provided by operating activities	73	54	109	103	118
Construction in progress and real estate additions	−21	−20	−5	−14	−20
Proceeds from interest rate cap	0	7	5	0	0
Proceeds from maturities of U.S. Treasury bills	0	0	265	99	0
Proceeds from sale of real estate	0	0	68	0	82
Purchase of interest rate cap	0	0	−11	0	0
Net cash (used in) provided by investing activities	−21	−13	322	−279	75
Dividends paid	−92	−92	−92	−92	−92
Debt issuance costs	−2	−8	−104,000	−46,000	−74,000
Debt repayments	−335	−500	0	0	−68
Proceeds from borrowings	175	400	0	0	0
Net cash used in financing activities	−254	−200	−92	−92	−160
Net (decrease) increase in cash and cash equivalents and restricted cash	−202	−159	338	−269	34
Cash payments for interest	48	60	54	26	19
Write-off of fully depreciated assets	1	2	8	23,000	6
Liability for real estate additions, including $34 and $346 in 2025 and 2024, respectively, for development fees due to Vornado	2	3	2	2	1

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro