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Article: Tough patch for Alexander's
- Article from:
- The Record (Bergen County, NJ)
- Article date:
- November 4, 2008
- Author:
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ANDREW TANGEL, STAFF WRITER
The Record (Bergen County, NJ)
11-04-2008
Tough patch for Alexander's -- Its funds from operations drop
By ANDREW TANGEL, STAFF WRITER
Date: 11-04-2008, Tuesday
Section: BUSINESS
Edtion: All Editions
Alexander's Inc., the Paramus-based real estate investment trust operated by Vornado Realty Trust, reported Monday sharp declines in funds from operations for the third quarter, largely because of multimillion-dollar payouts to its top executive, Steven Roth.
The company's funds from operations or FFO a widely used gauge of a REIT's performance swung to a loss of $25.9 million in the third quarter, or $5.10 a share, from a gain of $33.9 million, or $6.66, from the same ...