This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Alexander’s Announces Second Quarter FFO Of $5.60 Per Share

ALEXANDER’S, INC. (NYSE: ALX) today reported:

Second Quarter 2011 Results

Net income attributable to common stockholders for the quarter ended June 30, 2011 was $20.2 million, or $3.95 per diluted share, compared to $15.5 million, or $3.05 per diluted share, for the quarter ended June 30, 2010. Funds from operations attributable to common stockholders (“FFO”) for the quarter ended June 30, 2011 was $28.6 million, or $5.60 per diluted share, compared to $23.2 million, or $4.55 per diluted share, for the quarter ended June 30, 2010. Net income attributable to common stockholders and FFO for the quarter ended June 30, 2011 include $1.7 million of income from the collection of prior period tenant utility costs and $0.8 million of income from the reversal of previously recognized expense in connection with a litigation settlement at our Flushing property. The aggregate of these items increased net income attributable to common stockholders and FFO by $2.5 million, or $0.48 per diluted share, for the quarter ended June 30, 2011.

First Half 2011 Results

Net income attributable to common stockholders for the six months ended June 30, 2011 was $38.4 million, or $7.51 per diluted share, compared to $30.7 million, or $6.01 per diluted share, for the six months ended June 30, 2010. FFO for the six months ended June 30, 2011 was $54.9 million, or $10.75 per diluted share, compared to $45.7 million, or $8.94 per diluted share, for the six months ended June 30, 2010. Net income attributable to common stockholders and FFO for the six months ended June 30, 2011 include $1.7 million of income from the collection of prior period tenant utility costs and $0.8 million of income from the reversal of previously recognized expense in connection with a litigation settlement at our Flushing property. The aggregate of these items increased net income attributable to common stockholders and FFO by $2.5 million, or $0.48 per diluted share, for the six months ended June 30, 2011. The six months ended June 30, 2010 includes a net loss on the early extinguishment of debt of $1.2 million, or $0.24 per diluted share.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs