PARAMUS, N.J. (AP) 鈥� PARAMUS, N.J. (AP) 鈥� Alexander’s Inc. (ALX) on Monday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Paramus, New Jersey, said it had funds from operations of $13.4 million, or $2.60 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 $4.7 million, or 91 cents per share.
The real estate investment trust posted revenue of $53.4 million in the period.
The company’s shares have risen 12% since the beginning of the year. The stock has climbed 14% in the last 12 months.
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