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Alexander's (ALX) Tops Q3 FFO and Revenue Estimates
ALXAlexander’s(ALX) ZACKS·2024-11-04 15:55

Earnings Performance - Alexander's reported quarterly FFO of 2.84pershare,beatingtheZacksConsensusEstimateof2.84 per share, beating the Zacks Consensus Estimate of 2.57 per share, representing a 10.51% surprise [1] - This compares to FFO of 3.63pershareayearago[1]−ThecompanyhassurpassedconsensusFFOestimatestwotimesoverthelastfourquarters[2]RevenuePerformance−Alexander′spostedrevenuesof3.63 per share a year ago [1] - The company has surpassed consensus FFO estimates two times over the last four quarters [2] Revenue Performance - Alexander's posted revenues of 55.68 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 4.07% [2] - This compares to year-ago revenues of 55.41million[2]−Thecompanyhastoppedconsensusrevenueestimatesthreetimesoverthelastfourquarters[2]StockPerformance−Alexander′sshareshaveaddedabout5.955.41 million [2] - The company has topped consensus revenue estimates three times over the last four quarters [2] Stock Performance - Alexander's shares have added about 5.9% since the beginning of the year, underperforming the S&P 500's gain of 20.1% [3] Future Outlook - The current consensus FFO estimate is 2.79 on 53.5millioninrevenuesforthecomingquarterand53.5 million in revenues for the coming quarter and 13.65 on 221.9millioninrevenuesforthecurrentfiscalyear[7]−TheestimaterevisionstrendforAlexander′sismixed,translatingintoaZacksRank3(Hold)[6]IndustryContext−TheREITandEquityTrust−Otherindustryiscurrentlyinthetop27221.9 million in revenues for the current fiscal year [7] - The estimate revisions trend for Alexander's is mixed, translating into a Zacks Rank 3 (Hold) [6] Industry Context - The REIT and Equity Trust - Other industry is currently in the top 27% of the 250 plus Zacks industries [8] - The top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Comparison - DiamondRock Hospitality (DRH) is expected to post quarterly earnings of 0.26 per share, representing no change from the year-ago quarter [9] - DiamondRock Hospitality's revenues are expected to be $286.98 million, up 3.8% from the year-ago quarter [10]