olivLaw · US equity research
Alexander's, Inc. ALX
Real Estate Investment Trusts · SIC 6798 · Vertical: Real Estate Investment Trusts (SIC 6798)
Alexander's is a REIT that owns and manages a small portfolio of New York City real estate, externally managed by Vornado. Its reliance on tenant Bloomberg and the 731 Lexington Avenue building remains central, and the sale of Rego Park I in the second quarter of 2026 produced a considerable accounting gain.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Alexander's, Inc. (ALX) stock was 249.06 USD (−0.36% on the day), with market capitalisation 1.3 bn USD, P/E 6.7 on diluted EPS of 37.22 USD over the last 12 months, dividend yield 7.23%, beta 0.38, 52-week range 205.15–286.10 USD. Latest reported quarter (Q3 2026): revenue of 72.1 m USD (+34.9% YoY), net income of 27.4 m USD (+359.2% YoY), diluted EPS 5.33 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 53.3
- neutral
- Bollinger (20, 2)
- 230.73 – 256.12
- in the upper half of the band · %B 0.72 · band width 10.4%
- SMA 50 / 200
- 248.76 / 251.61
- mixed trend
- MACD (12, 26, 9)
- 0.49 / -0.56
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +1.5% | −5.9% | +7.4 pp | — |
| 3 months | −8.7% | −4.6% | −4.1 pp | — |
| 6 months | +1.8% | +0.2% | +1.5 pp | — |
| Year to date | +14.3% | +7.4% | +6.9 pp | — |
| 1 year | +7.0% | +8.2% | −1.2 pp | +3.3% |
| 3 years | +29.1% | +68.4% | −39.3 pp | +10.3% |
| 5 years | −10.8% | +56.5% | −67.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 55.9 m | 54.9 m | 51.6 m | 53.4 m | 53.3 m | 53.4 m | 54.7 m | 72.1 m |
| Depreciation & amortisation | 9.4 m | 9.4 m | 8.7 m | 9.0 m | 9.4 m | 9.4 m | 8.2 m | 9.0 m |
| Interest expense | 11.1 m | 10.8 m | 12.8 m | 14.1 m | 14.0 m | 10.7 m | 10.8 m | 10.9 m |
| Net income | 12.3 m | 12.3 m | 6.1 m | 6.0 m | 3.8 m | 4.7 m | 155.4 m | 27.4 m |
| Diluted EPS | 2.39 ≈ | 2.40 | 1.19 | 1.16 | 0.74 ≈ | 0.91 | 30.24 | 5.33 |
| Operating cash flow | 30.8 m | 15.7 m | 43.6 m ≈ | -9.3 m ≈ | 23.4 m | 6.8 m | 6.2 m ≈ | 16.9 m ≈ |
| Dividends paid | 23.1 m | 23.1 m | 23.1 m ≈ | 23.1 m ≈ | 23.1 m | 23.1 m | 23.1 m ≈ | 23.1 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 3 percentile of its own 36-quarter history (min 6.6, median 25.3, max 59.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 232.8 m | 226.4 m | 199.1 m | 206.1 m | 205.8 m | 225.0 m | 226.4 m | 213.2 m |
| Revenue YoY | +1.0% | −2.8% | −12.0% | +3.5% | −0.2% | +9.3% | +0.6% | −5.8% |
| Net income | 32.8 m | 60.1 m | 41.9 m | 132.9 m | 57.6 m | 102.4 m | 43.4 m | 28.2 m |
| Net income YoY | −59.2% | +82.9% | −30.2% | +217.0% | −56.6% | +77.7% | −57.6% | −35.0% |
| Diluted EPS | unavailable | 11.74 | 8.19 | 25.94 | 11.24 | 19.97 | 8.46 | 5.50 |
| Diluted EPS YoY | unavailable | unavailable | −30.2% | +216.7% | −56.7% | +77.7% | −57.6% | −35.0% |
| net % | 14.1% | 26.5% | 21.1% | 64.5% | 28.0% | 45.5% | 19.2% | 13.2% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 128.2 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 109.2 m USD
- Total assets
- 1.1 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 19.7%
- ROA
- 2.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 199.1 m | 206.1 m | 205.8 m | 225.0 m | 226.4 m | 213.2 m | SEC (XBRL)· 09 Feb 2026verified |
| Depreciation & amortisation | 35.1 m | 34.6 m | 31.5 m | 34.5 m | 37.9 m | 38.1 m | SEC (XBRL)· 09 Feb 2026verified |
| Interest expense | 24.2 m | 19.7 m | 28.6 m | 58.3 m | 62.8 m | 51.6 m | SEC (XBRL)· 09 Feb 2026verified |
| Net income | 41.9 m | 132.9 m | 57.6 m | 102.4 m | 43.4 m | 28.2 m | SEC (XBRL)· 09 Feb 2026verified |
| Diluted EPS | 8.19 | 25.94 | 11.24 | 19.97 | 8.46 | 5.50 | SEC (XBRL)· 09 Feb 2026verified |
| Weighted average diluted shares | 5.1 m | 5.1 m | 5.1 m | 5.1 m | 5.1 m | 5.1 m | SEC (XBRL)· 09 Feb 2026verified |
| Dividend per share | 18.00 | 18.00 | 18.00 | 18.00 | 18.00 | 18.00 | SEC (XBRL)· 09 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 428.7 m | 463.5 m | 194.9 m | 531.9 m | 338.5 m | 128.2 m | SEC (XBRL)· 09 Feb 2026verified |
| Total assets | 1.4 bn | 1.4 bn | 1.4 bn | 1.4 bn | 1.3 bn | 1.1 bn | SEC (XBRL)· 09 Feb 2026verified |
| Total liabilities | 1.2 bn | 1.1 bn | 1.2 bn | 1.2 bn | 1.2 bn | 1.0 bn | SEC (XBRL)· 09 Feb 2026verified |
| Equity | 203.2 m † | 252.6 m † | 236.5 m † | 237.7 m † | 176.9 m † | 109.2 m † | SEC (XBRL)· 09 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 78.1 m | 118.5 m | 102.5 m | 109.1 m | 54.1 m | 73.4 m | SEC (XBRL)· 09 Feb 2026verified |
| Investing cash flow | -32.5 m | 75.5 m | -279.3 m | 321.8 m | -13.2 m | -20.8 m | SEC (XBRL)· 09 Feb 2026verified |
| Financing cash flow | 90.3 m | -160.3 m | -92.3 m | -92.4 m | -200.0 m | -254.3 m | SEC (XBRL)· 09 Feb 2026verified |
| Dividends paid | 92.2 m | 92.2 m | 92.3 m | 92.3 m | 92.4 m | 92.4 m | SEC (XBRL)· 09 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Market and valuation
9 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 56 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.3 bn USD
Key indicators
Coverage and freshness
Score by group
- Quality100
- Returns86
- Growth12
- Valuation39
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 39.21 – 318.10 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Net asset value (NAV)unavailable · input data missing
- Dividend discount (DDM)236.54 – 318.10 (Mid 271.32)
- Peers: P/B39.21 – 109.95 (Mid 70.02)27 companies used · median multiple 1.6x · quartiles 0.9x – 2.5xAPLE, CMCT, CTO, DLR, DOC, ESS, EXR, HR, HST, ICR-PA, KIM, KRC, LTC, NNN, O, PLD, PSA, REXR, RITM, SEVN, SLG, STWD, VICI, VMRK, VTR, WELL, WHLR
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 56/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | 107.4% | 100 (vs peers) | 10% |
| EBITDA margin · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 1.2% | 12 (on a fixed band) | 14% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| P/B · Valuation | 5.6x | 13 (vs peers) | 31% |
| P/E (TTM) · Valuation | 6.7x | 97 (vs peers) | 14% |
| Dividend yield · Returns | 7.2% | 82 (vs peers) | 24% |
| Payout ratio (EPS) · Returns | 48.4% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/2 factors with a value
- Growth12/100 · 1/1 factors with a value
- Quality· partial100/100 · 1/2 factors with a value
- Returns86/100 · 2/2 factors with a value
- Valuation39/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ALEXANDERS INC (ALX). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 213.2 m USD in 2025; YoY growth -5.8%; net margin 81.9%; ROE 107.4%.
The estimated value range is 137.88–214.03 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 170.67 USD, the price of 249.06 USD leaves a potential of -31.5% (value / price − 1) and a margin of safety of -45.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 56/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, quality. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROE: 107.4%
- P/E (TTM): 6.7x
- Dividend yield: 7.2%
- Payout ratio (EPS): 48.4%
What contradicts it
- Revenue CAGR 3Y: 1.2%
- P/B: 5.6x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): EBITDA margin, Net debt / EBITDA, Interest coverage.
Versus the vertical median
Real Estate Investment Trusts (SIC 6798) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| WELLWelltower Inc. | 180.0 bn | 105.1 | 4.0% | 12.7% | +35.6% | +18% / +175% |
| PLDPrologis, Inc. | 119.9 bn | 32.4 | 7.1% | 42.5% | +7.2% | +0% / +12% |
| EQIXEquinix Inc | 98.7 bn | 59.9 | 11.5% | 16.4% | +5.4% | +32% / +22% |
| AMTAmerican Tower Corporation | 90.0 bn | 27.2 | 90.6% | 30.7% | +5.1% | +7% / −7% |
| PSAPublic Storage | 63.6 bn | 34.6 | 16.0% | 37.8% | +2.7% | +24% / +32% |
| DLRDigital Realty Trust, Inc. | 61.4 bn | 45.6 | 6.2% | 21.7% | +10.0% | +9% / +26% |
| ORealty Income Corporation | 56.6 bn | 41.0 | 3.6% | 22.9% | +9.1% | +3% / +10% |
| VTRVentas, Inc. | 47.1 bn | 167.5 | 1.9% | 4.0% | +18.5% | +10% / +94% |
| CCICrown Castle Inc. | 38.7 bn | 47.9 | — | 20.1% | −4.4% | −0% / −22% |
| EXRExtra Space Storage Inc. | 33.4 bn | 32.6 | 7.9% | 29.9% | +3.7% | +20% / +23% |
| IRMIron Mountain Inc | 31.4 bn | 68.4 | — | 6.1% | +12.2% | +22% / +64% |
| VICIVICI Properties Inc. | 27.8 bn | 11.6 | 8.3% | 56.5% | +4.1% | −13% / −16% |
| VMRKVivmark Residential | 24.5 bn | 28.6 | 8.1% | — | +4.8% | +6% / +15% |
| SBACSba Communications Corporation | 20.2 bn | 20.8 | — | 34.5% | +5.1% | −1% / −22% |
| ESSEssex Property Trust, Inc. | 17.4 bn | 41.7 | 8.0% | 22.7% | +6.4% | +3% / +27% |
| KIMKimco Realty Corporation | 17.2 bn | 28.3 | 5.8% | 27.8% | +5.1% | +24% / +33% |
| HSTHost Hotels & Resorts, Inc. | 16.9 bn | 16.5 | 15.8% | 16.5% | +7.6% | +40% / +41% |
| DOCHealthpeak Properties, Inc. | 13.9 bn | 37.0 | 4.9% | 12.3% | +4.5% | +10% / +16% |
| RHPRyman Hospitality Properties, Inc. | 9.1 bn | 31.9 | 26.0% | 9.9% | +10.2% | +38% / +31% |
| REXRRexford Industrial Realty, Inc. | 8.1 bn | — | -5.8% | -47.1% | +7.1% | −8% / −22% |
| NNNNnn REIT, Inc. | 8.0 bn | 20.2 | 8.9% | 40.9% | +6.6% | +0% / +2% |
| HRHealthcare Realty Trust Incorporated | 6.5 bn | — | -1.0% | -4.0% | −6.9% | +5% / +25% |
| OUTOUTFRONT Media Inc. | 5.6 bn | 22.8 | 39.7% | 12.7% | +0.0% | +36% / +155% |
| RITMRithm Capital Corp. | 5.3 bn | 13.7 | 5.8% | 8.7% | −6.7% | −18% / −9% |
| STWDStarwood Property Trust, Inc. | 4.8 bn | 21.7 | 3.5% | 11.4% | −5.3% | −30% / −35% |
1- and 3-year price returns: for ALX from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 143.15 Total return -37% · Per year -37% | 253.50 Total return 9% · Per year 9% | 382.42 Total return 62% · Per year 62% |
| 3 years | 129.81 Total return -32% · Per year -12% | 259.52 Total return 27% · Per year 8% | 431.14 Total return 101% · Per year 26% |
| 5 years | 117.72 Total return -28% · Per year -6% | 265.68 Total return 44% · Per year 8% | 486.07 Total return 145% · Per year 20% |
- Exit P/E± 64.88
- Net margin± 45.42
- Annual revenue growth± 38.51
- Annual dilution± 3.82
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 03 Aug 2026; since then the company filed 10-Q (02 Nov 2026).
In brief
Alexander's is a REIT that owns and manages a small portfolio of New York City real estate, externally managed by Vornado. Its reliance on tenant Bloomberg and the 731 Lexington Avenue building remains central, and the sale of Rego Park I in the second quarter of 2026 produced a considerable accounting gain 12.
SWOT
Strengths
- The company has a portfolio concentrated in New York City, with 731 Lexington Avenue occupied by a major long-term tenant and management provided by an experienced REIT platform 1.
- Occupancy remains at high levels across commercial and residential space, and the Rego Park I sale brought liquidity and a significant accounting profit 2.
- Principal shareholders, including Vornado, have a long-standing interest in the company's success, which provides stability in strategy 1.
Weaknesses
- Dependence on a single tenant, Bloomberg, represents a major part of revenue, and losing or weakening this tenant would strongly affect results 12.
- The company has no employees of its own and depends on Vornado for management, leasing and development, which limits direct operational control 1.
- The financing structure at 731 Lexington Avenue includes a PIK-bearing C-Note and a high fixed-rate B-Note, which could raise the total cost of debt 1.
Opportunities
- The Target lease on the former Rego Park space could support long-term revenue if it proceeds as planned 2.
- Capital left after the Rego Park I sale could be used to reduce debt or for new investment, if management decides so 2.
- Re-leasing or relocating tenants at Rego Park II and reconfiguring vacant space could open new income sources 1.
Threats
- Hybrid work and reduced office footprints could lead Bloomberg or other tenants to reassess needs, negatively affecting revenue 1.
- Online retail competition and financial difficulties among retail tenants could lead to non-payment or insolvency, affecting cash flow 1.
- Terrorism, natural disasters and insurance limits could generate uninsured losses with material effect on the financial position 1.
Risks
- Dependence on Bloomberghigh
A single tenant generates most rental revenue, and a deterioration in its financial position could seriously affect results 12.
- Geographic concentrationhigh
All properties are in New York City, so any local recession or change in the city's property market would directly affect value and revenue 1.
- Office and retail trendsmedium
Hybrid work, artificial intelligence and online retail could reduce demand for space, which could lead to lower occupancy or rents 1.
- Refinancing and cost of debtmedium
Debt must be refinanced at maturity, and terms may be less favourable, especially for structures with PIK interest and high fixed-rate B-Notes 1.
- Insurance coverage gapslow
Insurance does not cover all losses, and if costs or terms worsen, the company could be left with uninsured losses affecting its financial position 1.
Investment thesis
What would need to be true (bull case)
- The Rego Park I sale, the Target lease and high occupancy could support revenue if these trends hold 2.
- The 731 Lexington Avenue building has a major tenant with a lease extended to 2040, which could provide long-term stability 1.
- Backing from a major shareholder with REIT experience and external management by Vornado could reduce operating costs and help manage the assets 1.
What would break the thesis
- The sale profit in the quarter is not recurring, and core FFO fell from the prior year, which could indicate persistent pressure on recurring revenue 2.
- Dependence on one tenant and one building could make results vulnerable if Bloomberg renegotiates or reduces its leased space 12.
- Financing structures with PIK interest and high fixed-rate B-Notes could weigh on long-term debt and limit financial flexibility 1.
What to watch
- Evolution of the Bloomberg lease and the rent abatement scheduleQ4 2026
- When the Target lease becomes operational and its effect on Rego Park revenue2027
- Use of capital remaining after the Rego Park I sale and any debt reductionnext 10-K
- Commercial and residential occupancy versus the 94.6% and 97.4% reported at 30 June 2026Q3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 03 Aug 2026; since then the company filed 10-Q (02 Nov 2026).
The business
Alexander's, Inc. (NYSE: ALX) is a real estate investment trust incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties, all located in New York City 1. At 31 December 2025 the company held five properties totalling 2,446,000 square feet, and by mid-2026 the portfolio had fallen to four properties and 2,110,000 square feet after the Rego Park I sale 12. The company has no employees of its own for management, leasing or development; these are provided by Vornado Realty Trust, which owns 32.4% of the common stock 1.
Core activity centres on two areas: the 1,080,000 square foot office and retail building at 731 Lexington Avenue, and shopping and residential assets in Queens. Rego Park II, a 606,000 square foot shopping centre anchored by Costco and Kohl's, also includes the 312-unit Alexander apartment tower 1. Single-tenant concentration is high, and revenues depend heavily on occupancy at these assets 12.
The financing structure has changed recently: the December 2025 refinancing of the Rego Park II loan, the restructuring of the retail condominium loan at 731 Lexington Avenue into an A-Note, B-Note and a PIK-bearing C-Note, and the sale of Rego Park I 12. The company reported net income of $155,362,000 in the second quarter of 2026, but this includes the sale gain, and quarterly FFO was $15,538,000 2.
Segments
731 Lexington Avenue (office and retail)
This is the largest property and the main source of revenue. Bloomberg occupies all the office space, while The Home Depot's retail lease expired on 31 January 2025, with annual rent of about $15,000,000 12.
Rego Park II (retail and residential)
The shopping centre is anchored by Costco and Kohl's, and the Alexander apartment tower sits above it. Burlington and Marshalls relocated here in 2025 under new ten-year leases, and in June 2026 the company signed a 15-year lease with Target for a 135,000 square foot space 12.
Market context
All of the company's revenues come from New York City properties, so performance depends on the local economy, the office market, retail spending and tourism in the city 1. At 30 June 2026 commercial occupancy was 94.6% and residential occupancy 97.4% 2. Market risks include hybrid work, online retail competition and interest-rate pressure on refinancing costs 1.
The Manhattan office market and the Queens retail market are both shaped by long-term trends such as remote work and the use of artificial intelligence, which can change demand for space 1. A Bloomberg lease extended to February 2040 and the rent abatement granted in 2026 show how much the portfolio depends on a single tenant 12.
Trends
- Hybrid work and reconfiguration of office spaceheadwind
The company notes that work from home or flexible arrangements may lead tenants to reassess space needs, which could reduce revenue if a major tenant downsizes 1.
- Demand for modern, amenitised spacemixed
Tenants increasingly favour modern buildings with amenities, which may require significant capital expenditure from the landlord 1.
- Online retail competitionheadwind
Growth in online shopping could weaken retail tenants and demand for retail space, especially in centres that rely on anchor stores 1.
- Lower interest costsmixed
Lower average interest rates reduced interest and debt expense in 2025 by $11,194,000 versus the prior year, but also reduced interest and other income 1.
Competitive position
The company operates in a highly competitive New York City environment, competing with many real estate investors, owners and developers, some of whom accept lower returns 1. Principal competitive factors are rents charged, tenant concessions, location, property quality and services 1.
The company's properties face competition from similar properties in the same markets, which may limit the rents it can charge and its operating results 1. The sources do not name individually listed competitors beyond the parent manager.
- Vornado Realty TrustVNO
Parent manager that leases and develops Alexander's properties and holds 32.4% of the common stock, also a direct presence in the New York City market 1.
- Other real estate investors, owners and developers in New York City
A large group of market participants competing for rents and tenants, some accepting lower returns 1.
- Similar properties in the same markets
Comparable nearby assets that can reduce the rents the company is able to charge 1.
- Flexible workspace and subleases
Alternatives for office tenants that can compete with traditional leased space 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report02 Nov 2026
- Quarterly report03 Aug 2026
- Current report28 May 2026Regulation FD disclosure · Financial statements and exhibits
- Current report21 May 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report04 May 2026
- Proxy statement07 Apr 2026
- Current report31 Mar 2026Material agreement · Financial statements and exhibits
- Current report09 Mar 2026Material agreement · Regulation FD disclosure · Financial statements and exhibits
- Annual report09 Feb 2026
- Current report29 Dec 2025Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Alexander's, Inc. · 09 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Alexander's, Inc. · 03 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.