ALEXANDERS INC

Alexander's, Inc. announced the completion of the previously disclosed sale of its Rego Park I property in Queens, New York, to Northwell Health, Inc. The transaction generated a gross sales price of $235.5 million, with net proceeds totaling $203 million. The company expects to recognize a financial statement gain of approximately $148 million in the second quarter.

Alexander's, Inc. announced the completion of the previously announced sale of its Rego Park I shopping center in Queens, New York, to Northwell Health, Inc. The transaction generated a gross sales price of $235.5 million, resulting in net proceeds of $203 million. The company expects to recognize a financial statement gain of approximately $148 million in the second quarter of 2026, with a total tax gain of $145 million spread across 2025 and 2026.

Alexander's, Inc. stockholders approved the 2026 Omnibus Stock Plan at the Annual Meeting, which replaces the 2016 Plan and makes 500,000 shares available for incentive awards. All other proposals also passed, including the re-election of three directors, the non-binding advisory vote on executive compensation, and the ratification of Deloitte & Touche LLP as the company's independent auditor for the fiscal year 2026.

Alexander's Inc. reported a significant decline in its financial performance for the first quarter ended March 31, 2026. Net income fell to $4.7 million, or $0.91 per diluted share, from $12.3 million, or $2.40 per diluted share, in the prior year. Funds from operations (FFO) also decreased to $13.4 million, or $2.60 per diluted share, compared to $20.8 million, or $4.06 per diluted share, in the same period last year.

Alexanders Inc. announced an agreement to sell its Rego Park I shopping center for $235.5 million, expecting a financial statement gain of approximately $147 million upon closing in Q3 2026. For the first quarter of 2026, the company reported a significant decline in net income to $4.66 million, down 62% from $12.31 million in the prior year, with diluted EPS falling to $0.91 from $2.40. Rental revenues decreased by $1.5 million to $53.41 million, primarily due to lease expirations and lower tenant receivables. Additionally, Alexanders amended its lease with Bloomberg, providing a $56.8 million rent abatement.

Alexander's, Inc. announced that its Board of Directors has declared a regular quarterly dividend of $4.50 per share. The dividend is scheduled to be paid on May 29, 2026, to stockholders who are on record as of May 11, 2026. Alexander's, Inc. operates as a real estate investment trust with five properties located in New York City.

Alexander's, Inc. announced it will file its first quarter 2026 Form 10-Q and release earnings on Monday, May 4, 2026, before the New York Stock Exchange opens. Vornado Realty Trust, which manages Alexander's operations, will host its quarterly earnings conference call and audio webcast on Tuesday, May 5, 2026, at 10:00 a.m. Eastern Time. Information concerning Alexander's may be discussed during this call.