Alexander’s (NYSE:ALX) Upgraded at Zacks Research

Alexander’s (NYSE:ALX) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alexander’s presently has a consensus rating of “Buy”.

Alexander’s Stock Performance

Shares of ALX stock opened at $228.87 on Wednesday. The firm has a market capitalization of $1.17 billion, a PE ratio of 31.44 and a beta of 0.86. The firm has a fifty day simple moving average of $234.00 and a two-hundred day simple moving average of $228.78. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 6.79. Alexander’s has a 12 month low of $184.76 and a 12 month high of $260.84.

Alexander’s (NYSE:ALX) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.41. The firm had revenue of $53.42 million during the quarter, compared to analysts’ expectations of $51.60 million. Alexander’s had a net margin of 17.14% and a return on equity of 22.12%. Analysts forecast that Alexander’s will post 11.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Alexander’s

Several institutional investors have recently modified their holdings of ALX. EverSource Wealth Advisors LLC increased its position in shares of Alexander’s by 625.0% during the second 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 last quarter. Cullen Frost Bankers Inc. grew its stake in Alexander’s by 177.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 200 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 128 shares during the period. Tower Research Capital LLC TRC increased its position 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 purchasing an additional 98 shares during the last quarter. Signaturefd LLC raised its stake in shares of Alexander’s by 37.1% during the 2nd quarter. Signaturefd LLC now owns 270 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 73 shares during the period. Finally, Strs Ohio bought a new stake in shares of Alexander’s during the 1st quarter worth $84,000. 31.99% of the stock is owned by institutional investors.

About Alexander’s

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust (REIT), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to we, us, our, Company and Alexander’s refer to Alexander’s, Inc and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (Vornado) (NYSE: VNO).