Alexander’s, Inc. (NYSE:ALX – Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $251.59 and traded as high as $254.50. Alexander’s shares last traded at $252.02, with a volume of 80,050 shares changing hands.
Analyst Ratings Changes
A number of brokerages have recently commented on ALX. Weiss Ratings raised shares of Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Piper Sandler decreased their target price on shares of Alexander’s from $212.00 to $192.00 and set an “underweight” rating for the company in a research report on Monday, October 12th. Wall Street Zen upgraded shares of Alexander’s from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Zacks Research cut shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $192.00.
Check Out Our Latest Stock Report on Alexander’s
Alexander’s Trading Up 1.2%
The business has a 50-day simple moving average of $250.62 and a two-hundred day simple moving average of $251.59. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 7.63 and a beta of 0.80. The company has a debt-to-equity ratio of 3.73, a current ratio of 16.78 and a quick ratio of 16.78.
Alexander’s (NYSE:ALX – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.02. Alexander’s had a return on equity of 123.09% and a net margin of 79.06%. The company had revenue of $54.71 million during the quarter, compared to analysts’ expectations of $54.10 million. Equities analysts forecast that Alexander’s, Inc. will post 16.52 EPS for the current fiscal year.
Alexander’s Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Monday, November 9th will be issued a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $18.00 annualized dividend and a yield of 7.1%. Alexander’s’s dividend payout ratio (DPR) is currently 54.46%.
Hedge Funds Weigh In On Alexander’s
Several institutional investors and hedge funds have recently modified their holdings of the stock. Compass Wealth Management LLC acquired a new stake in Alexander’s during the third quarter worth approximately $25,000. Nisa Investment Advisors LLC grew its position in shares of Alexander’s by 64.5% in the third quarter. Nisa Investment Advisors LLC now owns 125 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 49 shares during the last quarter. Nykredit A S acquired a new position in shares of Alexander’s in the second quarter valued at approximately $96,000. Royal Bank of Canada grew its position in shares of Alexander’s by 295.9% in the first quarter. Royal Bank of Canada now owns 479 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 358 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. increased its stake in shares of Alexander’s by 7.9% during the first quarter. Resona Asset Management Co. Ltd. now owns 958 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 70 shares during the period. 31.99% of the stock is currently owned by institutional investors and hedge funds.
About Alexander’s
Alexander’s, Inc (NYSE: ALX) is a real estate investment trust that owns, manages and leases a portfolio of office, retail and residential properties, primarily in the New York metropolitan area. Its properties are generally located in densely populated, high-traffic locations and serve commercial tenants, retailers and residents.
The company’s portfolio includes mixed-use and office properties in Manhattan and surrounding communities. Its best-known asset is 731 Lexington Avenue, a major mixed-use development in Manhattan that includes office space, retail establishments and residential units.
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