PARAMUS, N.J. (AP) — 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 $17 million, or $3.31 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 $8.4 million, or $1.63 per share.
The real estate investment trust posted revenue of $53.4 million in the period.
The company’s shares have climbed 7.5% since the beginning of the year. The stock has risen 19% in the last 12 months.
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