PARAMUS, N.J., Feb. 10, 2025 (GLOBE NEWSWIRE) — ALEXANDER’S, INC. (New York Stock Exchange: ALX) filed its Form 10-K for the year ended December 31, 2024 today and reported:
Fourth Quarter 2024 Financial Results
Net income for the quarter ended December 31, 2024 was $12.3 million, or $2.39 per diluted share, compared to $16.3 million, or $3.17 per diluted share for the quarter ended December 31, 2023.
Funds from operations (“FFO”) (non-GAAP) for the quarter ended December 31, 2024 was $20.8 million, or $4.06 per diluted share, compared to $25.6 million, or $4.99 per diluted share for the quarter ended December 31, 2023.
Year Ended December 31, 2024 Financial Results
Net income for the year ended December 31, 2024 was $43.4 million, or $8.46 per diluted share, compared to $102.4 million, or $19.97 per diluted share for the year ended December 31, 2023. Net income for the year ended December 31, 2023 included $54.0 million, or $10.52 per diluted share, of income as a result of a net gain from the sale of the Rego Park III land parcel.
FFO (non-GAAP) for the year ended December 31, 2024 was $78.0 million, or $15.19 per diluted share, compared to $81.1 million, or $15.80 per diluted share for the year ended December 31, 2023.
Alexander’s, Inc. is a real estate investment trust which has five properties in New York City.
