Alexander's, Inc. filed its quarterly report on Form 10-Q with the SEC on November 2, 2026, covering the period ended September 30, 2026, disclosing a net gain on sale of real estate of $148,002 thousand for the nine months ended September 30, 2026.

Key Highlights

  • Net gain on real estate sale: The company reported a net gain on sale of real estate of $148,002 thousand for the nine months ended September 30, 2026, with no comparable gain in the prior-year period.
  • Nine-month net income: Net income for the nine months ended September 30, 2026 was $187,428 thousand, compared to $24,400 thousand for the same period in 2025.
  • Q3 net income: Net income for the three months ended September 30, 2026 was $27,404 thousand, up from $5,968 thousand in Q3 2025.
  • Rental revenues: Rental revenues were $72,056 thousand for Q3 2026 and $180,179 thousand for the nine-month period, compared to $53,424 thousand and $159,928 thousand in the respective 2025 periods.
  • Total equity: Total equity rose to $227,893 thousand as of September 30, 2026, from $109,156 thousand at December 31, 2025.
  • Dividends paid: Dividends of $13.50 per common share were paid during the nine months ended September 30, 2026, totaling $69,352 thousand.
  • Shares outstanding: As of October 31, 2026, there were 5,107,290 shares of common stock outstanding.

Alexander's Reports Nine-Month Results Driven by Real Estate Disposition Gain

According to the filing, Alexander's, Inc. (NYSE:ALX) recorded a net gain on sale of real estate of $148,002 thousand during the nine months ended September 30, 2026, a figure with no counterpart in the 2025 period. This gain was the primary driver of the company's nine-month net income of $187,428 thousand, which compared to $24,400 thousand for the nine months ended September 30, 2025. Net income per common share on a basic and diluted basis was $36.48 for the nine-month period, versus $4.75 in the year-earlier period, based on weighted average shares outstanding of 5,137,678 and 5,134,705, respectively.

For the three months ended September 30, 2026, the company reported rental revenues of $72,056 thousand, up from $53,424 thousand in Q3 2025. Total expenses for the quarter were $36,848 thousand, compared to $37,060 thousand in Q3 2025. Interest and debt expense declined to $10,933 thousand from $14,078 thousand in the prior-year quarter, according to the filing. Q3 net income per common share was $5.33 versus $1.16 in Q3 2025.

The consolidated balance sheet as of September 30, 2026 showed total assets of $1,198,318 thousand and mortgages payable, net of deferred debt issuance costs, of $837,164 thousand. Cash and cash equivalents stood at $299,789 thousand, up from $128,167 thousand at December 31, 2025. The filing also disclosed that deferred leasing costs, net, included unamortized leasing fees to Vornado of $19,371 thousand, and that operating expenses included fees to Vornado of $1,422 thousand for Q3 2026 and $4,947 thousand for the nine-month period. The company is classified as an accelerated filer, according to the filing.

What Was Disclosed

Alexander's, Inc. filed its unaudited quarterly report for the period ended September 30, 2026, disclosing a $148,002 thousand net gain on real estate sold, nine-month net income of $187,428 thousand, quarterly rental revenues of $72,056 thousand, and total equity of $227,893 thousand at quarter end.