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Article: Alexander's profit takes a hit
- Article from:
- The Record (Bergen County, NJ)
- Article date:
- May 6, 2008
- Author:
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JAMES QUIRK, STAFF WRITER
The Record (Bergen County, NJ)
05-06-2008
Alexander's profit takes a hit -- REIT's funds from operations fall 46 percent in first quarter
By JAMES QUIRK, STAFF WRITER
Date: 05-06-2008, Tuesday
Section: BUSINESS
Edtion: All Editions
Alexander's Inc., a Paramus-based real estate investment trust managed by Vornado Realty Trust, said Monday that a measure of profitability tumbled 46 percent in the first quarter.
Funds from operations, an industry gauge of profitability, dropped to $20.4 million, or $4 a share, from $37.7 million, or $7.39, in the same period last year.
In the first quarter of 2007, FFO included $14.3 million, or $2.81 a share, for the reversal of previously ...