PARAMUS, N.J. – PARAMUS, N.J. (AP) _ Alexander's Inc. (ALX) on Monday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Paramus, New Jersey, said it had funds from operations of $26.1 million, or $5.11 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $17.6 million, or $3.43 per share.
The real estate investment trust posted revenue of $58.3 million in the period.
The company's shares have dropped slightly more than 4 percent since the beginning of the year. The stock has fallen 13 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on ALX at https://www.zacks.com/ap/ALX