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PARAMUS, N.J. (AP) _ Alexander's Inc. (ALX) on Monday reported a key measure of profitability in its third quarter.
The Paramus, New Jersey-based real estate investment trust said it had funds from operations of $22.5 million, or $4.40 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 $15.1 million, or $2.95 per share.
The real estate investment trust posted revenue of $53.7 million in the period.
The company's shares have fallen 11% since the beginning of the year. The stock has declined 17% in the last 12 months.
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