Alexander’s announced a sale of a non-core, non-income-generating asset in Queens, a move that Longleaf Partners Small-Cap Fund says puts the real estate investment trust further on offense. The fund, managed by Southeastern Asset Management, highlighted the transaction in its first-quarter 2026 investor letter, noting that the stock moved positively while peer Empire State Realty declined on AI-driven job loss fears and international travel headwinds. Alexander’s shares gained 23.62% over the past 52 weeks and closed at $281.55 on June 29, 2026, with a market capitalization of $1.44 billion. The fund trimmed its Alexander’s position and added to Empire State Realty during the quarter.
Alexanders IncSale of non-core asset strengthens strategic position, noted positively by Longleaf Partners.
Empire State Realty Trust Inc
Empire State Realty OP LP