Alexander's, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 01, 2021 at 08:18 am EDT
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Alexander's, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 48.95 million compared to USD 43.5 million a year ago. Net income was USD 11.4 million compared to USD 6.6 million a year ago. Basic earnings per share from continuing operations was USD 2.22 compared to USD 1.29 a year ago. Diluted earnings per share from continuing operations was USD 2.22 compared to USD 1.29 a year ago.
For the nine months, sales was USD 156.49 million compared to USD 143.09 million a year ago. Net income was USD 55.18 million compared to USD 23.51 million a year ago. Basic earnings per share from continuing operations was USD 10.77 compared to USD 4.59 a year ago. Diluted earnings per share from continuing operations was USD 10.77 compared to USD 4.59 a year ago.
Alexander's, Inc. is a real estate investment trust (REIT). The Company is engaged in leasing, managing, developing and redeveloping its properties. It is managed by, and its properties are leased and developed by, Vornado Realty Trust (Vornado). It has five properties in New York City consisting of 731 Lexington Avenue, a 1,079,000 square foot multi-use building comprising the entire block bounded by Lexington Avenue, East 59th Street, Third Avenue and East 58th Street in Manhattan; Rego Park I, a 338,000 square foot shopping center, is located on Queens Boulevard and 63rd Road in Queens; Rego Park II, a 616,000 square foot shopping center, is located adjacent to the Rego Park I shopping center in Queens; Flushing, a 167,000 square foot building, located on Roosevelt Avenue and Main Street in Queens, and The Alexander apartment tower, located above its Rego Park II shopping center, contains 312 units aggregating 255,000 square feet.
ALEXANDER'S, INC. 
