Alexander's reports Q1 net income of $4.7M, down from $12.3M a year ago, amid lower funds from operations.

Alexander's, Inc., a New York City real estate investment trust, reported net income of $4.7 million ($0.91 per diluted share) for Q1 2026, down from $12.3 million ($2.40 per share) in Q1 2025. Funds from operations (FFO), a key performance metric for REITs, also declined to $13.4 million ($2.60 per share) from $20.8 million ($4.06 per share) the previous year. Revenues slightly decreased to $53.4 million from $54.9 million. The results reflect challenges in the real estate market and tenant conditions, with the company cautioning about risks including property improvement costs and financing. Investors should watch for how Alexander's manages these factors going forward.