Alexander's Q3 FFO Per Share $3.63 Down From $4.40 YoY, Rental Sales $55.41M Up From $53.73M YoY
Portfolio Pulse from Benzinga Newsdesk
Alexander's (NYSE:ALX) reported a 17.5% decrease in quarterly FFO per share, down from $4.40 YoY to $3.63. However, the company's rental sales increased by 3.13% to $55.41 million from $53.73 million YoY.
October 30, 2023 | 12:29 pm
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NEUTRAL IMPACT
Alexander's reported a decrease in FFO per share but an increase in rental sales. This mixed result could lead to uncertainty in the market.
The decrease in FFO per share indicates a potential decrease in profitability, which could negatively impact the stock price. However, the increase in rental sales suggests growth in a key revenue stream, which could have a positive effect. The mixed results make the short-term impact on the stock price uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100