Alexander’s, Inc. (NYSE:ALX – Get Free Report)’s stock price gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $255.00, but opened at $270.14. Alexander’s shares last traded at $260.9620, with a volume of 4,814 shares changing hands.
The real estate investment trust reported $30.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $27.24. Alexander’s had a net margin of 9.72% and a return on equity of 17.38%. The business had revenue of $54.71 million during the quarter, compared to the consensus estimate of $54.10 million.
Alexander’s Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 10th will be issued a $4.50 dividend. The ex-dividend date is Monday, August 10th. This represents a $18.00 annualized dividend and a dividend yield of 6.7%. Alexander’s’s dividend payout ratio (DPR) is presently 450.00%.
Analysts Set New Price Targets
Check Out Our Latest Research Report on ALX
Insiders Place Their Bets
In related news, Director Russell B. Wight, Jr. sold 423 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total transaction of $112,941.00. Following the transaction, the director directly owned 900 shares in the company, valued at approximately $240,300. The trade was a 31.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.36% of the company’s stock.
Institutional Trading of Alexander’s
Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in shares of Alexander’s by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Van ECK Associates Corp bought a new stake in shares of Alexander’s in the 3rd quarter valued at about $32,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Alexander’s in the 4th quarter valued at about $38,000. Larson Financial Group LLC raised its holdings in shares of Alexander’s by 104.0% in the 3rd quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 104 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Alexander’s by 89.1% in 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 purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 31.99% of the company’s stock.
Alexander’s Price Performance
The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 9.17. The firm has a market cap of $1.38 billion, a P/E ratio of 67.50 and a beta of 0.77. The business has a fifty day moving average of $266.51 and a 200 day moving average of $249.82.
About Alexander’s
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.
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