AlphaMadera's AlphaVal page classifies Alexander's, Inc. as a Real Estate Investment Trust business and values it using P/FFO × Retail REIT Multiple, then compares the result to the current market price to flag ALX as undervalued, fairly valued, or overvalued.

What is Alexander's, Inc.'s fair value?

Fair value for ALX comes from a P/FFO × Retail REIT Multiple model -- the approach AlphaVal selected for this company's Real Estate Investment Trust classification. The live AlphaVal page shows bear, base, and bull scenarios alongside the key assumption behind each.

How does AlphaMadera value ALX?

AlphaVal routes each company to one of ten valuation archetypes based on its business model. ALX was classified as Real Estate Investment Trust and is valued using P/FFO × Retail REIT Multiple, built from ALX's most recent reported fundamentals.

ALX - Alexander's, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS | PRICE TARGET: $212.00 DETAILS

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Retail REIT Multiple

Valuation Signal Overvalued Mild

Trading 1.9% above fair value

Current Price $241.48

Bear Case $194.70 19.4% downside ($194.70 - $241.48) / $241.48 = -19.4% $12.99 FFO × 12x

Fair Value $237.08 1.8% downside ($237.08 - $241.48) / $241.48 = -1.8% $12.99 FFO × 15x

Bull Case $279.47 15.7% upside ($279.47 - $241.48) / $241.48 = 15.7% $12.99 FFO × 18x

Adjust Assumptions

P/FFO Multiple

15.0x

FFO per Share

12.99$

Key Value Driver

FFO/share ($12.99) × retail P/FFO multiple

Terminal Value % of EV

Implied Market Multiple 18.6x

Market is pricing in (growth)

Plain-Language Summary

At $12.99 FFO/share with a 15x retail REIT multiple, the base-case value is $237.08 per share. Dividend yield: 7.5%. DDM cross-check: $335.45.

Warnings

⚠ Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.

⚠ Dividend yield of 7.5% is unusually high — make sure the company generates enough cash to keep paying it.

ℹ Dividend-based valuation: $335.45 (41% above our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.

Key Risks

P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
Interest rate sensitivity: REIT multiples compress when rates rise
FFO approximation (NI + D&A) may include gains on property sales — verify