ALXALEXANDERS INC

Real Estate Investment Trusts · $1.3B market cap

5.2×

More likely than average to be taken private

Top 1% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

TSR below peersYes
5 of 5 years
3+ of last 5 years
Payouts exceed cash flowYes
126% of cash flow
Buybacks + dividends over cash flow
Buyout-sizedYes
$1.3B market cap
Market cap $500M–$5B
Recurring revenueYes
9 of 10
10-K business scored 7+ of 10 for recurring revenue

11 other checks

High CEO pay despite TSRNo
$182K median
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
260% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Goodwill-heavyNo
—
Over 40% of assets
Shareholder dissentNo
93% lowest support
Any vote under 80% support
Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AINo
1.9 per 10K words · 54th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
AI-rollup shapedNo
0 of 10
10-K business scored 5+ of 10 as an AI-rollup target
Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$113K net
Net sales over $10M in 12 months

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY
Revenue	$206M	$206M	$225M	$226M	$213M	5.8%
Net income	$133M	$58M	$102M	$43M	$28M	35%
Operating cash flow	$118M	$103M	$109M	$54M	$73M	36%
Stock-based comp	$450K	$450K	$450K	$450K	$394K	12%
Dividends	$92M	$92M	$92M	$92M	$92M	0.1%

Filed	Filer	Form	Stake	Intent
Aug 23, 2023	INTERSTATE PROPERTIES	SC 13D/A	42.2%	Passive
Aug 23, 2023	VORNADO REALTY TRUST	SC 13D/A	42.2%	Passive

−$113Knet selling by insiders, open market, last 12 months

Bought $0 · 0 tradesSold $113K · 1 trade

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	$196K	$196K	107	127
FY2024	$189K	$189K	89	118
FY2023	$182K	$182K	87	112
FY2022	$175K	$175K	82	101
FY2021	$170K	$170K	90	134