Alexander's Q2 net income surges on property sale gain - ALX News | RalliesAlexander's Q2 net income surges on property sale gain
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ALX• Outlook
- Company did not provide specific guidance for future quarters or the full year in its press release
Overview
- U.S. REIT's Q2 revenue rose yr/yr
- Net income surged on $148 mln gain from Rego Park I property sale
- Q2 funds from operations per share rose to $3.02 from $2.88
Result Drivers
- Property sale - Net income jumped due to $148 mln gain from sale of Rego Park I property
- Modest FFO growth - Funds from operations per share rose to $3.02 from $2.88 yr/yr
Key Details and Analyst Coverage
| | | |
|---|
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | Beat | $54.71 mln | $54 mln (1 Analyst) |
| Q2 Net Income | Beat | $155.36 mln | $5.70 mln (1 Analyst) |
| Q2 Adjusted FFO | | $15.54 mln | |
| Q2 Adjusted FFO Per Share | | $3.02 | |
- The one available analyst rating on the shares is "sell"
