Alexander's: 3Q Earnings Snapshot

PARAMUS, N.J. (AP) _ Alexander's Inc. (ALX) on Monday reported a key measure of profitability in its third quarter.

The real estate investment trust, based in Paramus, New Jersey, said it had funds from operations of $23.1 million, or $4.52 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 $15 million, or $2.93 per share.

The real estate investment trust posted revenue of $59.1 million in the period.

The company's shares have fallen 18 percent since the beginning of the year. The stock has declined 22 percent in the last 12 months.


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