1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies

Alexander's Inc. Reports Operating Results (10-Q)

August 06, 2012 | About:

Alexander's Inc. (NYSE:ALX) filed Quarterly Report for the period ended 2012-06-30.

Alexander's, Inc. has a market cap of $2.24 billion; its shares were traded at around $434.74 with a P/E ratio of 19.52 and P/S ratio of 8.8. The dividend yield of Alexander's, Inc. stocks is 3.42%.

Highlight of Business Operations:

Management s Discussion and Analysis of Financial Condition and Results of Operations include a discussion of our consolidated financial statements for the three and six months ended June 30, 2012 and 2011. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

The table below reflects property square footage, occupancy and leasing activity for our business. The leasing activity presented below is based on leases signed during the period and is not intended to coincide with the commencement of rental revenue in accordance with GAAP. Second generation relet space referred to in the table below represents square footage that has not been vacant for more than nine months.

Bloomberg L.P. (“Bloomberg”) accounted for $42,395,000 and $41,504,000, representing 33% of our consolidated revenues in each of the six-month periods ended June 30, 2012 and 2011, respectively. No other tenant accounted for more than 10% of our consolidated revenues. If we were to lose Bloomberg as a tenant, or if Bloomberg were to fail or become unable to perform its obligations under its lease, it would adversely affect our results of operations and financial condition. We receive and evaluate certain confidential financial information and metrics from Bloomberg on a semi-annual basis. In addition, we access and evaluate financial information regarding Bloomberg from private sources, as well as publicly available data.

Property rental income is our primary source of cash flow and is dependent on a number of factors including the occupancy level and rental rates of our properties, as well as our tenants ability to pay their rents. Our properties provide us with a relatively consistent stream of cash flow that enables us to pay our operating expenses, interest expense, recurring capital expenditures and cash dividends to stockholders. Other sources of liquidity to fund cash requirements include our existing cash, proceeds from financings secured by our properties, and proceeds from asset sales. We anticipate that cash from operations over the next twelve months, together with existing cash balances, will be adequate to fund our business operations, cash dividends to stockholders, debt amortization and maturities, and recurring capital expenditures.

Read the The complete Report

About the author:

Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

Rating: 5.0/5 (1 vote)


Please leave your comment:

Performances of the stocks mentioned by 10qk

User Generated Screeners

aroblessAJR - PIEC (Asia)
aroblessAJR - PIEC (INDIA)
aroblessAJR - PIEC (HSI)
aroblessAJR - PIEC (TSX)
aroblessAJR - PIEC (CHINA)
DBrizanrota16Jan2018 1236a
DBrizanrota16Jan2018 1220a
DBrizanrota16Jan2018 1208a
kelly66Dividend Evaluation
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat