$Alexander's Inc (ALX.US)$The properties are concentrated in...
$Alexander's Inc (ALX.US)$The properties are concentrated in the New York metropolitan area, and the revenue and operating profit have overall declined over the past 5 years. The net income skyrocketed in 2021 due to gains from asset sales, but returned to normal levels in 2022.
In the first half of 2023, the revenue increased by 7.7%, the operating profit increased by 0.1%, and the net income increased by 1.6 times to reach 0.075 billion due to gains from asset sales. However, the sustainability of asset sale gains depends on the quantity of assets available for sale, and the value to shareholders depends on the price-to-book ratio, which is currently not optimistic.
The current P/E ratio is 16.4, the trailing P/E ratio is 9.1, the P/B ratio is 3.55, and the dividend yield is 9.8%. Taking a wait-and-see approach for now.
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