Alexander’s shares gained amid market attention after the real estate investment trust closed a non-core asset sale and signed a lease with Target to fully lease its key shopping center in Queens, according to Longleaf Partners Small-Cap Fund’s second-quarter 2026 investor letter. The fund, managed by Southeastern Asset Management, highlighted Alexander’s as a notable contributor, noting it is getting harder for the market to ignore the company’s steady free cash flow power and strong balance sheet. Alexander’s closed at $276.21 per share on July 13, 2026, with a market capitalization of $1.44 billion, posting a one-month return of 7.14% and a 52-week gain of 16.68%. The fund returned -2.47% in the quarter, underperforming the Russell 2000 Index’s 21.49% return and the Russell 2000 Value Index’s 17.19% gain, driven by unexpected moves in IT and industrials and market favor for speculative stocks.
Alexanders IncClosed non-core asset sale and signed lease with Target, highlighting free cash flow and balance sheet.