PARAMUS, N.J. (AP) — PARAMUS, N.J. (AP) — Alexander's Inc. (ALX) on Monday reported a key measure of profitability in its second quarter.
The Paramus, New Jersey-based real estate investment trust said it had funds from operations of $14.8 million, or $2.88 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 $6.1 million, or $1.19 per share.
The real estate investment trust posted revenue of $51.6 million in the period.
The company's shares have risen 23% since the beginning of the year. The stock has climbed slightly more than 7% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALX at https://www.zacks.com/ap/ALX
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