Company profile

Calendar

4 May 20
11 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 54.11M 55.88M 57.76M 55.93M
Net income 4.57M 14.43M 16.49M 11.28M
Diluted EPS 0.89 2.82 3.22 2.2
Net profit margin 8.45% 25.83% 28.55% 20.17%
Net change in cash 140.28M -6.17M 20.28M -19M
Cash on hand 438.34M 298.06M 304.23M 283.95M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 226.35M 232.83M 230.57M 226.94M
Net income 60.08M 32.84M 80.51M 86.48M
Diluted EPS 11.74 6.42 15.74 16.91
Net profit margin 26.54% 14.11% 34.92% 38.11%
Operating income 100.62M 105.27M 105.46M
Net change in cash 15.01M -24.48M 18.61M 29.58M
Cash on hand 298.06M 283.06M 307.54M 288.93M

Financial data from Alexanders earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
14 May 20 Silverstein Wendy Deferred Stock Units Common Stock Grant Aquire A No 0 329 0 1,747
14 May 20 Roth Steven Deferred Stock Units Common Stock Grant Aquire A No 0 329 0 1,994
14 May 20 Dibenedetto Thomas R Deferred Stock Units Common Stock Grant Aquire A No 0 329 0 1,994
14 May 20 Sonnenblick Arthur Deferred Stock Units Common Stock Grant Aquire A No 0 329 0 1,994
14 May 20 Puri Mandakini Deferred Stock Units Common Stock Grant Aquire A No 0 876 0 1,205
14 May 20 Puri Mandakini Deferred Stock Units Common Stock Grant Aquire A No 0 329 0 329
35.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 102 117 -12.8%
Opened positions 7 22 -68.2%
Closed positions 22 11 +100.0%
Increased positions 36 43 -16.3%
Reduced positions 42 35 +20.0%
13F shares
Current Prev Q Change
Total value 699.53M 725.71M -3.6%
Total shares 1.83M 1.84M -0.6%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Vanguard 326.97K $90.23M -2.6%
BEN Franklin Resources 267.67K $73.86M -0.7%
EMS Capital 250.5K $69.13M +161.2%
BLK BlackRock 197.24K $54.43M -0.0%
Bamco 152.78K $42.16M +0.3%
Renaissance Technologies 130.21K $35.93M -3.4%
STT State Street 69.7K $19.23M -0.4%
NTRS Northern Trust 40.63K $11.21M +1.3%
Dimensional Fund Advisors 40.12K $11.07M +1.2%
Geode Capital Management 30.87K $8.52M +0.1%
Largest transactions
Shares Bought/sold Change
EMS Capital 250.5K +154.59K +161.2%
Long Pond Capital 0 -82.53K EXIT
Norges Bank 0 -32.81K EXIT
Real Estate Management Services 10.9K +10.9K NEW
Virtus ETF Advisers 0 -10.49K EXIT
Vanguard 326.97K -8.64K -2.6%
Millennium Management 10.21K -7.58K -42.6%
BK Bank Of New York Mellon 26.24K +6.09K +30.2%
FMR 0 -4.63K EXIT
Renaissance Technologies 130.21K -4.63K -3.4%

Financial report summary

?
Risks
  • OUR INVESTMENTS ARE CONCENTRATED IN THE GREATER NEW YORK CITY METROPOLITAN AREA. CIRCUMSTANCES AFFECTING THIS AREA GENERALLY COULD ADVERSELY AFFECT OUR BUSINESS.
  • All of our properties are in the greater New York City metropolitan area and are affected by the economic cycles and risks inherent in that area.
  • We are subject to risks that affect the general and New York City retail environments.
  • Terrorist attacks may adversely affect the value of our properties and our ability to generate cash flow.
  • Natural disasters and the effects of climate change could have a concentrated impact on the area which we operate and could adversely impact our results.
  • Our performance and the value of an investment in us are subject to risks associated with our real estate assets and with the real estate industry.
  • Capital markets and economic conditions can materially affect our liquidity, financial condition and results of operations as well as the value of an investment in our debt and equity securities.
  • U.S. federal tax reform legislation now and in the future could affect REITs generally, the geographic markets in which we operate, the trading of our shares and our results of operations, both positively and negatively, in ways that are difficult to anticipate.
  • Real estate is a competitive business and that competition may adversely impact us.
  • We may be adversely affected by trends in office real estate.
  • We depend on leasing space to tenants on economically favorable terms and collecting rent from tenants who may not be able to pay.
  • Bankruptcy or insolvency of tenants may decrease our revenues, net income and available cash.
  • We depend upon anchor tenants to attract shoppers at our Rego Park I and II retail properties and decisions made by these tenants, or adverse developments in the businesses of these tenants, could materially affect our financial condition and results of operations.
  • We may be unable to renew leases or relet space as leases expire.
  • 731 Lexington Avenue accounts for a substantial portion of our revenues. Loss of or damage to the building would adversely affect our financial condition and results of operations.
  • Bloomberg represents a significant portion of our revenues. Loss of Bloomberg as a tenant or deterioration in Bloomberg’s credit quality could adversely affect our financial condition and results of operations.
  • The occurrence of cyber incidents, or a deficiency in our cyber security, as well as other disruptions of our IT networks and related systems, could negatively impact our business by causing a disruption to our operations, a compromise or corruption of our confidential information, and/or damage to our business relationships or reputation, all of which could negatively impact our financial results.
  • Some of our potential losses may not be covered by insurance.
  • We may incur significant costs to comply with environmental laws and environmental contamination may impair our ability to lease and/or sell real estate.
  • We face risks associated with our tenants being designated “Prohibited Persons” by the Office of Foreign Assets Control and similar requirements.
  • We may acquire, develop, or redevelop properties and this may create risks.
  • We are exposed to risks associated with property redevelopment and repositioning that could adversely affect us, including our financial condition and results of operations.
  • It may be difficult to sell real estate quickly, which may limit our flexibility.
  • We have an investment in marketable equity securities. The value of this investment may decline as a result of operating performance or economic or market conditions.
  • OUR ORGANIZATIONAL AND FINANCIAL STRUCTURE GIVES RISE TO OPERATIONAL AND FINANCIAL RISKS.
  • Substantially all of our assets are owned by subsidiaries. We depend on dividends and distributions from these subsidiaries. The creditors of these subsidiaries are entitled to amounts payable to them by the subsidiaries before the subsidiaries may pay any dividends or distributions to us.
  • Our existing financing documents contain covenants and restrictions that may restrict our operational and financial flexibility.
  • We have a substantial amount of indebtedness that could affect our future operations.
  • We have outstanding debt, and the amount of debt and its cost may increase and refinancing may not be available on acceptable terms.
  • We might fail to qualify or remain qualified as a REIT, and may be required to pay federal income taxes at corporate rates.
  • We may face possible adverse changes in federal tax laws, which may result in an increase in our tax liability.
  • We may face possible adverse state and local tax audits and changes in state and local tax law.
  • Loss of our key personnel could harm our operations and adversely affect the value of our common stock.
  • ALEXANDER’S CHARTER DOCUMENTS AND APPLICABLE LAW MAY HINDER ANY ATTEMPT TO ACQUIRE US.
  • We may change our policies without obtaining the approval of our stockholders.
  • OUR OWNERSHIP STRUCTURE AND RELATED-PARTY TRANSACTIONS MAY GIVE RISE TO CONFLICTS OF INTEREST.
  • Steven Roth, Vornado and Interstate may exercise substantial influence over us. They and some of our other directors and officers have interests or positions in other entities that may compete with us.
  • There may be conflicts of interest between Vornado, its affiliates and us.
  • THE NUMBER OF SHARES OF ALEXANDER’S COMMON STOCK AND THE MARKET FOR THOSE SHARES GIVE RISE TO VARIOUS RISKS.
  • The trading price of our common shares has been volatile and may continue to fluctuate.
  • Alexander’s has additional shares of its common stock available for future issuance, which could decrease the market price of the common stock currently outstanding.
Management Discussion
  • Net income for the quarter ended March 31, 2020 was $4,572,000, or $0.89 per diluted share, compared to $17,865,000, or $3.49 per diluted share in the prior year’s quarter. Net income for the quarter ended March 31, 2020 included an expense of $11,395,000, or $2.23 per diluted share, from the change in fair value of marketable securities. For the quarter ended March 31, 2019, the change in fair value of marketable securities was insignificant.
  • Funds from operations (“FFO”) (non-GAAP) for the quarter ended March 31, 2020 was $23,744,000, or $4.64 per diluted share, compared to $25,531,000 or $4.99 per diluted share in the prior year’s quarter.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: aggressive, assurance, bank, China, constrained, curb, decline, deferral, denied, deteriorate, deterioration, difficult, distribution, duration, economy, effort, enforce, evolving, failure, focused, global, health, heighten, highly, home, identified, implemented, infection, intensity, lending, light, negatively, occur, occurred, ongoing, open, Organization, outbreak, pandemic, paused, people, policy, posed, preventive, rapidly, reduce, reduced, regulation, satisfy, significantly, situation, social, speed, spending, spread, strain, temporarily, temporary, uncertain, unemployment, volatility, worldwide, Wuhan
Removed: accrued, accruing, adding, advance, affiliate, applied, apply, approach, assumption, beginning, benchmark, borrowing, calculating, calculation, canceled, classifying, conform, consistently, deferred, discontinued, discount, dissolved, effectively, eligible, ending, Equipment, expedient, extension, extinguished, extinguishment, factor, financed, Flushing, forward, ground, grouped, hedge, Hedging, hindsight, IBR, Inclusion, incorrectly, incremental, Index, initial, initially, intended, Joseph, largely, list, Literature, Macnow, member, method, minimum, modified, modifying, OIS, Overnight, ownership, package, permitted, plan, Plant, possession, prepaid, presentation, President, principal, principle, Program, reacquisition, Reauthorization, Recently, reclassification, reclassified, reclassify, record, recorded, refinanced, rejected, removing, reorganization, repay, repayment, represented, restated, retrospective, returned, Silverstein, SOFR, specific, standard, statement, stop, Swap, transitioning, treated, unchanged, undiscounted, Vice, Wendy