Alexander's Inc. (ALX)

Alexander’s, Inc., a real estate investment trust (REIT), leases, manages, develops, and redevelops properties in the United States. Its properties include office and retail properties, and shopping centers. The company has elected to be treated as a REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income tax, provided it distributes at least 90% of its taxable income to its shareholders. The company was founded in 1955 and is based in Paramus, New Jersey.

For the nine months ended 30 September 2006, Alexander's, Inc's revenues rose 9% to $148.5M. Net loss totaled $622K vs. an income of $41.9M. Revenues reflect an increase in property rentals and higher expenses reimbursement. Higher loss reflects increased operating expenses, higher depreciation & amortization expense and higher interest & debt expenses due to higher average cash balances.