Recent developments include lease modifications, property sale, refinancing activities, and dividend declarations reflecting active portfolio and capital management.

• Alexander's shares crossed above the 200-day moving average in September 2026, indicating technical momentum in the stock price [N2].
• The company reported Q2 2026 earnings with highlights including increased funds from operations and rental revenues [N3].
• Alexander's beat Q2 2026 funds from operations and revenue estimates, reflecting operational strength [N4].
• In Q1 2026, the company reported earnings with some revenue and FFO lagging prior expectations [N5][N7][N8].
• The sale of the Rego Park I property in May 2026 generated net proceeds of approximately $202.75 million and a gain of $148 million [S2].
• Lease modifications included Kohl's early termination in August 2026 with a termination payment of approximately $29 million and a new 15-year lease with Target for the same space [S2].
• Liquidity improved to approximately $349 million as of September 30, 2026, supported by operating cash flow and proceeds from the property sale [S2].
• Refinancing and restructuring of mortgage loans on key properties occurred in late 2025, reducing interest expenses [S1][S2].
• The Board declared a quarterly dividend of $4.50 per share in February 2026, implying an annualized dividend of $18.00 per share [S1].
• Operating expenses decreased slightly in Q3 2026 compared to prior year, partly due to the sale of Rego Park I [S2].

Alexander's benefits from a stable and high-occupancy real estate portfolio anchored by Bloomberg L.P., which accounts for a majority of rental revenues. The successful sale of Rego Park I and lease modifications such as the Kohl's termination and Target lease commencement demonstrate active portfolio management. Refinancing efforts have reduced interest expenses, supporting financial flexibility. The company maintains substantial liquidity and pays consistent dividends, reflecting operational cash flow strength.

Risks include heavy tenant concentration with Bloomberg L.P., where loss or inability to fulfill lease obligations could materially impact revenues. Lease expirations and tenant departures, such as Home Depot's lease expiration and Kohl's early termination, pose leasing risks. Interest rate fluctuations and inflation could increase operating costs and debt servicing expenses. Insurance coverage limitations and potential uninsured losses could affect financial stability. The ground lease rent increase at the Flushing property represents a rising fixed cost.

Alexander's moat is supported by its ownership of prime real estate assets in New York City, including the flagship 731 Lexington Avenue property with a long-term lease to Bloomberg L.P., a financially strong and stable tenant. The company's ability to negotiate lease extensions and modifications, as well as its active management of refinancing and capital expenditures, contribute to maintaining asset value and cash flow stability. The concentration of high-quality tenants and strategic property locations provide competitive advantages in leasing and revenue generation.

• Tenant Concentration Risk: Bloomberg L.P. accounts for approximately 55% of rental revenues, creating significant dependence on a single tenant. Loss or default by Bloomberg could materially affect financial results.
• Lease Expiration and Tenant Turnover: Expiration of major leases such as Home Depot's and early termination by Kohl's require successful re-leasing to maintain occupancy and revenues.
• Interest Rate and Inflation Exposure: Fluctuations in interest rates and inflation may increase operating expenses and debt service costs, impacting cash flows.
• Insurance Coverage Limitations: While the company maintains substantial insurance, uninsured losses or increased coverage costs could adversely affect financial position.
• Ground Lease Rent Increase: An arbitration panel determined a significant increase in ground lease rent at the Flushing property effective February 2027, increasing fixed costs.

• Alexander's Inc is a real estate company owning a portfolio of commercial and residential properties totaling approximately 2,106,000 square feet as of September 30, 2026.
• The portfolio includes four properties with commercial occupancy at 94.6% and residential occupancy at 98.1% as of September 30, 2026.
• Bloomberg L.P. is a significant tenant, leasing approximately 952,000 square feet at 731 Lexington Avenue, accounting for about 55% of rental revenues for the nine months ended September 30, 2026.
• The company completed the sale of its Rego Park I property in Queens, New York, in May 2026, generating net proceeds of approximately $202.75 million and a financial gain of $148 million.
• Rental revenues for the three months ended September 30, 2026 were $72.06 million, up from $53.42 million in the prior year period, driven by lease modifications and new leases.
• Operating expenses for the three months ended September 30, 2026 were $25.89 million, slightly lower than the prior year period, influenced by the sale of Rego Park I.
• Net income for the three months ended September 30, 2026 was $27.4 million, or $5.33 per diluted share, compared to $5.97 million or $1.16 per diluted share in the prior year period.
• Funds from operations (FFO) for the three months ended September 30, 2026 were $36.35 million, or $7.07 per diluted share, compared to $14.92 million or $2.91 per diluted share in the prior year period.
• As of September 30, 2026, Alexander's had liquidity of approximately $349.13 million in cash and cash equivalents and restricted cash.
• The company refinanced and restructured mortgage loans on key properties, including a $175 million refinancing of the Rego Park II shopping center loan and restructuring of the 731 Lexington Avenue retail condominium loan.
• Alexander's declared a quarterly dividend of $4.50 per share in February 2026, implying an annualized dividend of $18.00 per share.
• The company faces risks related to tenant concentration, notably dependence on Bloomberg as a major tenant, and potential impacts from lease expirations and tenant departures.
• Alexander's maintains insurance coverage including general liability and terrorism insurance with limits up to $1.7 billion per occurrence.
• The company is subject to interest rate fluctuations, inflation effects, and economic uncertainties that could materially impact its financial condition and operations.
• Alexander's has a ground lease at its Flushing property with a significant rent increase effective February 2027, based on arbitration determination.
• Capital expenditures planned for 2026 are approximately $55 million, funded from operating cash flow, liquidity, and borrowings.
• The company’s debt portfolio includes loans maturing between 2027 and 2035 with varying interest rates, including fixed and variable components.
• Net gain on sale of real estate was $148 million for the nine months ended September 30, 2026, primarily from the Rego Park I property sale.
• The company’s financial figures and liquidity snapshot are summarized from the latest SEC filings as of September 30, 2026, including net income of $27.4 million for Q3 2026 and cash and equivalents of $299.8 million as of that date.