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PARAMUS, N.J. (AP) — PARAMUS, N.J. (AP) — Alexander's Inc. (ALX) on Monday reported a key measure of profitability in its first quarter.
The Paramus, New Jersey-based real estate investment trust said it had funds from operations of $18.6 million, or $3.63 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 $11.2 million, or $2.19 per share.
The real estate investment trust posted revenue of $52.9 million in the period.
The company's shares have dropped 15% since the beginning of the year. The stock has decreased 25% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ALX">Zacks stock report on ALX at https://www.zacks.com/ap/ALX