M&T Bank Corp Takes $60.37 Million Position in Alexander’s, Inc. $ALX

M&T Bank Corp purchased a new stake in shares of Alexander’s, Inc. (NYSE:ALX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 277,014 shares of the real estate investment trust’s stock, valued at approximately $60,372,000. M&T Bank Corp owned 0.05% of Alexander’s at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALX. EverSource Wealth Advisors LLC lifted its holdings in shares of Alexander’s by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 100 shares during the period. Van ECK Associates Corp bought a new position in shares of Alexander’s during the 3rd quarter valued at $32,000. Tower Research Capital LLC TRC lifted its holdings in shares of Alexander’s by 89.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 98 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Alexander’s by 104.0% during the 3rd quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 104 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Alexander’s by 393.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 237 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 189 shares during the period. 31.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ALX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Alexander’s in a report on Monday. Zacks Research cut Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Alexander’s Price Performance

Shares of Alexander’s stock opened at $252.24 on Wednesday. Alexander’s, Inc. has a one year low of $198.57 and a one year high of $260.84. The stock’s fifty day moving average is $239.18 and its 200 day moving average is $231.17. The stock has a market cap of $1.29 billion, a P/E ratio of 45.95 and a beta of 0.79. The company has a debt-to-equity ratio of 7.60, a quick ratio of 8.36 and a current ratio of 8.36.

Alexander’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Alexander’s’s dividend payout ratio (DPR) is currently 327.87%.

Alexander’s Company Profile

Alexander’s (NYSE: ALX) is a publicly traded real estate investment trust focused on owning, leasing and managing commercial properties in the New York metropolitan area. The company’s portfolio encompasses office buildings, retail storefronts and parking facilities, all held on a wholly owned basis. By concentrating on prime urban and suburban locations, Alexander’s seeks to generate stable rental income and long-term asset appreciation.

Founded in 1928 as a family-run department store chain, Alexander’s transitioned during the early 1990s into a pure-play real estate company following the sale of its retail operations.