PARAMUS, N.J. (AP) _ Alexander's Inc. (ALX) on Monday reported a key measure of profitability in its first quarter, after reporting a loss in the same period a year earlier.
The real estate investment trust, based in Paramus, New Jersey, said it had funds from operations of $25.5 million, or $4.99 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $17.9 million, or $3.49 per share.
The real estate investment trust posted revenue of $56.8 million in the period.
The company's shares have climbed 23% since the beginning of the year. The stock has declined 4.5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALX at https://www.zacks.com/ap/ALX