Alexander's (ALX) stock plummeted 5.44% during intraday trading on Monday, following the release of its fourth-quarter financial results that fell short of analyst expectations.
The real estate investment trust reported Q4 funds from operations (FFO) of $2.43 per share, missing the consensus estimate of $3.02 by 19.54%. This represents a 40.15% decrease from the $4.06 per share reported in the same period last year. Quarterly sales came in at $53.255 million, slightly below the $53.400 million estimate and down 4.75% year-over-year.
The disappointing results, which also showed a decline in net income, contributed to negative market sentiment. Analyst coverage remains cautious, with the available rating on the shares being "sell," contrasting with the "buy" average consensus for the commercial REITs peer group.