ALX Earnings Prediction
The chart below shows how ALX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ALX sees a -0.82% change in stock price 10 days leading up to the earnings, and a -0.57% change 10 days following the report. On the earnings day itself, the stock moves by +0.71%. This data can give you a slight idea of what to expect for the next quarter's release.
ALX Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
53.67M
7.73%
1.38%
Gross Margin
52.62%
-5.83%
1.72%
Operating Margin
35.15%
-8.42%
-2.87%
Net Margin
119.51%
301.98%
463.73%
EPS
12.51
332.87%
471.23%
No Data Available
ALX Earnings Analysis
Alexanders Inc Corporation (ALX.N) Earnings Conference Call
Positive
New York cash same-store office business was up 3% and overall New York business was up 2.7% in the second quarter, indicating resilience in core office and retail businesses with long-term credit leases.
Supported by data provided in the earnings call.
Demonstrates the company's ability to weather challenges and maintain growth in a competitive environment.
Office leasing activity has been strong with traditional industries leading the demand, particularly financial services and law firms, representing almost 40% of leased square footage in the quarter.
Based on leasing data provided by the company.
Highlights the attractiveness of the company's office properties to high-quality tenants and the ongoing demand for premium office space.
The company continues to see strong leasing pipeline in New York with 580,000 square feet of leases in negotiation and an additional 1.2 million square feet in the pipeline, showing confidence in the market and demand for office space.
Supported by the leasing pipeline information shared during the earnings call.
Indicates sustained interest from tenants and potential for future revenue growth.
Retail leasing activity in the PENN District has been robust, focusing on food and fitness activations, showcasing the company's ability to curate and enhance the district with best-in-class operators.
Data provided in the call regarding retail leasing activities.
Demonstrates the company's commitment to creating vibrant and attractive retail spaces within their portfolio.
The company remains focused on maintaining balance sheet strength with a strong liquidity position of $3.2 billion, including cash and undrawn credit facilities, indicating financial stability and strategic planning to weather market volatility.
Data shared during the call regarding the company's financial position.
Shows a proactive approach to managing financial resources for long-term success.
Negative
- Comparable FFO as adjusted for the second quarter was $0.11 lower than last year's second quarter, primarily due to higher net interest expense from increased rates.
- Nonrecurring items in the quarter essentially offset each other, impacting financial performance, including additional interest expense related to loan restructuring and additional stock compensation expenses.
- Leasing activity in the office market has been impacted by the Federal Reserve's interest rate increases, leading to higher concessions and stubbornly high vacancy rates.
- The financing markets remain highly constrained, especially for office properties, driven by volatility from the sharp rate increases by the Federal Reserve.
- Despite the positive leasing metrics, industry insiders are acknowledging a shortage of good office space in specific competitive markets, leading to challenges in pushing rental rates higher.
- The capital markets, particularly the CMBS market, remain largely closed, making it difficult to secure financing for real estate assets.
- The company continues to face challenges in refinancing assets that are overleveraged or not easily refinanceable, potentially impacting future financial stability.
