Alexander's: Q1 Earnings Snapshot
PARAMUS, N.J. (AP) — PARAMUS, N.J. (AP) — Alexander's Inc. (ALX) on Monday reported a key measure of profitability in its first quarter.
The Paramus, New Jersey-based real estate investment trust said it had funds from operations of $20.8 million, or $4.06 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 $12.3 million, or $2.40 per share.
The real estate investment trust posted revenue of $54.9 million in the period.
The company's shares have increased slightly more than 7% since the beginning of the year. The stock has increased slightly in the last 12 months.
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San Francisco Chronicle
44 minutes ago
- San Francisco Chronicle
ULM drops women's tennis amid athletic department financial constraints
MONROE, La. (AP) — The women's tennis program at Louisiana-Monroe has been disbanded because of financial constraints at the university's athletic department. Athletic director John Hartwell announced this week that the decision stemmed from 'increased operational and infrastructure costs' and will help ULM athletics 'to continue progress towards balancing its budget' while maintaining an NCAA-required minimum of 16 Division I sports. Under the recently approved NCAA antitrust settlement, scholarship caps will be replaced by roster limits and schools will be able to fund every roster spot with a scholarship. Hartwell said as women's tennis players graduate or transfer, scholarship funds that had been dedicated to them will be redirected to other remaining women's sports teams. ULM spokesman Martin Radosevic the administration also 'worked with a Title IX consultant to ensure we maintained Title IX compliance during this process.' Title IX prohibits discrimination based on gender. For practical purposes, it requires universities to fund athletic scholarships in a way that is proportionate to the number of men and women participating on their varsity sports teams. While the number of women's athletic scholarships funded by ULM won't change, its athletic department will save on other expenses that had gone toward the tennis program — from coaches' salaries to travel, equipment and facility costs. Radosevic said the athletic department expects savings of about $250,000. 'Discontinuing a sport is never an easy decision, nor one that we take lightly,' Hartwell said. 'We know this is tough for our student-athletes and our coaches, who have poured so much into our tennis program." Hartwell said ULM will honor the scholarships of those who want to complete their degrees without transferring elsewhere. He said his administration also will help those tennis players who want to continue to compete to pursue opportunities at other schools. 'We will prioritize as smooth a transition as possible for our student-athletes,' Hartwell said. ___
Fox Sports
an hour ago
- Fox Sports
Paddock Buzz: Foyt Team Honors Memory of Dear Friend at Road America
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Sexton, along with her husband, Joe, founded Sexton Properties, an Indianapolis-based real estate development company, in 1962. Their first Indiana project was located just minutes from Indianapolis Motor Speedway and marked the beginning of a friendship between the Sextons and A.J. Foyt, one of the development's first tenants. 'I met Marlyne's husband, Joe Sexton, years ago,' Foyt said. 'I was one of the first customers, and from then on, we were just great friends." Joe passed away in 2002, but Marlyne continued to lead the company and remained a powerful influence in real estate and motorsports. Sexton Properties began sponsoring AJ Foyt Racing during the 2015 Indianapolis 500 as an associate partner on an entry driven by Alex Tagliani. The partnership grew each season, culminating in a primary sponsorship role by 2022. "I am deeply saddened by the loss of Marlyne Sexton,' said Larry Foyt, team president of AJ Foyt Racing. 'It can't be overstated the positive effects she has had on not only our team but on me personally. Her strength and positive influence are a huge piece of our recent successes. I will forever be grateful for the life lessons she taught me and the confidence she instilled in all aspects of my life. 'Marlyne loved watching INDYCAR and cheering for AJ Foyt Racing. I will miss our talks about the races and the team, but her teachings and impact will be remembered for the rest of my life.' Kirkwood Riding Momentum Into Road America Kyle Kirkwood enters Road America aiming for a feat Andretti Global hasn't pulled off in over a decade. Kirkwood has three victories this season, with back-to-back wins in the last two races in the series, the Chevrolet Detroit Grand Prix on June 1 and Bommarito Automotive Group 500 presented by Axalta and Valvoline on June 15. He has a chance in Sunday's 55-lap race to become the first Andretti Global driver since Ryan Hunter-Reay in 2012 to win three races in a row. RHR pulled off a hat track that year at Milwaukee Mile, Iowa Speedway and the streets of Toronto. 'Momentum is a big thing in motorsports,' Kirkwood said. 'When you have that kind of momentum, things come to you a little bit easier.' Kirkwood is off to a great start Friday, quickest in the No. 27 Siemens Honda with a lap of 1:44.9881. Kirkwood has improved his finishing position at Road America all three years. He finished 20th as a rookie for AJ Foyt Racing in 2022, then ninth and fifth, respectively, for Andretti Global the last two years. The steady upward trend, paired with his current form, positions him as a legitimate threat to contend for the win Sunday. This is also the first time this season Kirkwood hasn't had a week off between wins. 'To do well, you've got to celebrate with the crew for a couple of hours, and then you're straight back to work to do it all over again,' he said. 'I've gone home after each win and been able to relax and wind down from it, but this week it's been like, 'OK, it's Road America, here we go again,' which isn't a bad thing. Just keep it rolling. It doesn't allow the ball to stop.' Herta Strives for Road America Victory Colton Herta has been one of the most consistent performers at Road America, but victory at the 4.014-mile Wisconsin road course continues to slip just out of reach. In eight starts, Herta has never finished worse than eighth and has qualified on the front row five times, including each of the last two years. He earned NTT P1 Award honors in 2019 as a rookie and in 2023. He's only started outside the top seven once – 11th in 2022. 'I've always been really strong here,' Herta said. But have still never won. I've had close ones. This is the place I've never really had a bad weekend.' Herta's best chances slipped away due to small but costly mistakes. In 2019, managing tire wear caught him off guard as he faded to eighth. In 2023, a pit stop one lap too early forced him to save fuel late, and he ultimately finished fifth. Andretti Global Drivers Stick With Pacers Andretti Global's NBA loyalty got complicated this week as Mark Walter, who is part of Andretti Global's TWG Global ownership group, made headlines this week for purchasing the Los Angeles Lakers. Walter, already a stakeholder in the Los Angeles Dodgers and Los Angeles Sparks and owner of the Professional Women's Hockey League, holds a significant presence in both racing and LA sports. However, Andretti Global is based in Indianapolis, and co-owner Dan Towriss' company Gainbridge, has naming rights to Gainbridge Fieldhouse, home of the Pacers. So, where do Andretti Global drivers Marcus Ericsson, Herta and Kirkwood's allegiances stand? Herta took a bipartisan approach. 'I'll have an Eastern Conference team in the Pacers and a Western Conference team in the Lakers to cheer for,' he said. Florida native Kirkwood was more loyal to his adopted home. 'I don't know anything about that situation,' Kirkwood said. 'I live in Indiana. I know all the Pacers players' names, at least. I watch them play, and I know their style. I'm a big, big fan of the Pacers. I scream at the TV.' Ericsson, like Kirkwood, remains loyal to the Pacers. Fatherhood Helps McLaughlin Through Rough Stretch Scott McLaughlin is navigating a challenging stretch of the season, with a string a setbacks that have dropped him from fifth in points entering the 109th Running of the Indianapolis 500 presented by Gainbridge to eighth in the standings entering Sunday's 55-lap race at Road America. McLaughlin crashed on the pace lap and finished 30th in the '500' on May 25. A week later, he was penalized for avoidable contact after rear-ending Nolan Siegel's No. 6 Arrow McLaren Chevrolet and finished 12th at Detroit. In last Sunday's race at World Wide Technology Raceway, McLaughlin qualified second, ran in the top five, but suffered a mechanical failure on Lap 216, ending 24th. McLaughlin likened this difficult period to his 2015 season in Australian V8 Supercars, though with a more grounded perspective this time around. Becoming a first-time father to daughter Lucy during the offseason has provided emotional balance and perspective. 'Obviously, her college fund has taken a hit, but I think at the same time she's so very refreshing,' McLaughlin said. 'Being a dad and having a life outside of the sport, not that I didn't have that before without Lucy. I mean, I always had (wife) Karly, and she's great at taking my mind of stuff. But the dad part of life is awesome, and I'm probably the most happy I've ever been off the track.' McLaughlin has yet to win at Road America in four starts, but his performance improved each year, climbing from 14th in 2021, seventh in 2022, eighth in 2023 and third after leading 18 laps last year. He was sixth quickest Friday with a time of 1:45.3191 in the No. 3 XPEL Team Penske Chevrolet. Franchitti, Buxton Shave Foster's Mustache for Charity NTT INDYCAR SERIES rookie Louis Foster made a surprising and charitable style change ahead of the Road America race weekend by losing the mustache he had sported all season. Foster, an English driver for Rahal Letterman Lanigan Racing, wore the mustache as a nod to three-time series champion Bobby Rahal, co-owner of the team. In May, he joked that his look was very 1986 Indy 500 Bobby Rahal, embracing the retro vibe and team pride. At Thursday night's Welcome Party at Siebkens Stop-Inn Tavern, a beloved Elkhart Lake establishment, Foster joined other drivers as a celebrity bartender, raising funds for Racing For Kids through tips and donations. When asked what it would take to shave the mustache, Foster half-jokingly said $1,000. Dario Franchitti, a four-time INDYCAR SERIES champion, offered $500 if he could shave it off himself. Others, including FOX Sports play-by-play announcer Will Buxton, chipped in, and the mustache was officially shaved for charity. Foster was eighth quickest in the No. 45 Droplight/Desunda Tequila Honda in Friday's practice. Cannon Helps VeeKay Score WWTR Top 10 Finish Rinus VeeKay has found a new groove in recent races and credits veteran engineer Michael Cannon for the turnaround. Cannon rejoined Dale Coyne Racing after this year's Indianapolis 500 presented by Gainbridge and brings decades of technical expertise and a proven track record of rapid impact. In their first race together at Detroit, Cannon's input, especially on braking, helped VeeKay qualify seventh. The next race at WWTR, the No. 18 askROI Honda cracked the top 10 and finished seventh thanks to fuel-saving strategy devised by Cannon. Cannon spent six years (2014-19) at DCR, engineering a range of drivers. He also has served as an engineer in recent seasons for Chip Ganassi Racing and AJ Foyt Racing, delivering immediate improvements to those teams, especially on ovals. 'Working with (Scott) Dixon in the past, he gave me some tricks to improve the fuel mileage,' VeeKay said. Odds and Ends Championship leader Alex Palou has new colors on track this weekend with SOLO Cup sponsoring his No. 10 Chip Ganassi Racing Honda. He was ninth quickest in the opening practice session. Team Penske swept the podium in last year's race and had all three drivers in the top six during Friday's practice session, led by defending race winner Will Power (1:45.1795) in third in the No. 12 Verizon Team Penske Chevrolet. Two-time Road America winner Josef Newgarden (1:45.2228) in the No. 2 PPG Team Penske Chevrolet was fourth, .0433 of a second behind Power, with McLaughlin sixth. The top 15 drivers in Friday's speed chart were separated by less than a second. Saturday features NTT INDYCAR SERIES practice at 11:05 a.m. ET and then qualifying to set the 27-car lineup for Sunday's race at 2:35 p.m. ET. Both air on FS1, the FOX Sports app and the INDYCAR Radio Network. 2012 INDYCAR SERIES champion and 2014 Indianapolis 500 presented by Gainbridge winner Ryan Hunter-Reay served as a booth analyst for FOX's INDY NXT by Firestone practice coverage Friday. recommended
New York Post
2 hours ago
- New York Post
Barron Trump made millions from family's lucrative crypto firm: report
Barron Trump, the youngest son of the 47th President, may have raked in millions of dollars from the sale of crypto tokens linked to the family's lucrative venture into digital tokens, according to report. The 19-year-old New York University student could have picked up a cool $40 million — $25 million after taxes — from the sale of digital assets by World Liberty Financial Group, the Trump family firm launched nine months ago after Barron persuaded his dad about the benefits of crypto, Forbes reported. 'Barron knows so much about this,' commander-in-chief said during an interview in September after the launch. 'Barron's a young guy, but he knows it — he talks about his wallet. He's got four wallets or something, and I'm saying, 'What is a wallet?'' Barron Trump, seen here at his father's second inauguration, is listed as a 'co-founder' on World Liberty Financial's website. AFP via Getty Images World Liberty has been a financial bonanza for the family. In March, World Liberty announced that it had sold $550 million worth of tokens. An Office of Government Ethics filing released by President Trump last week declared he had made $57 million from token sales. It also said that the real estate mogul held a 75% stake in his umbrella company, DT Marks Defi LLC, with unnamed 'third parties' holding the other 25%. Barron Trump is listed as a 'co-founder' of World Liberty Financial alongside the president, as well as Eric and Donald Trump Jr, the president's two eldest sons. Forbes, which provided no direct evidence for its claims of Barron Trump's massive digital windfall, suggested that he owned a 7.5% stake in Delaware-based World Liberty. The stake would mirror what the NYU freshman holds in the Trump Organization's Washington, DC hotel, Forbes said. The Post has approached a Trump Organization spokesperson for comment. Trump once derided digital assets such as Bitcoin as 'a scam' but he has since U-turned and embraced cryptocurrencies. REUTERS Barron Trump's name does not appear in the company's solitary SEC filing from October 30 last year. Also listed as business partners in the venture are Middle East envoy Steve Witkoff and his son, Zachary. An analysis by Bloomberg, the financial news outlet, estimates the president's net worth has doubled since the start of his 2024 campaign, standing at just over $5.4 billion
