Alexander’s, Inc. (NYSE:ALX – Get Free Report)’s share price passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $251.94 and traded as low as $250.02. Alexander’s shares last traded at $251.9350, with a volume of 32,525 shares.
Analyst Ratings Changes
Several equities analysts have weighed in on ALX shares. Piper Sandler dropped their price objective on Alexander’s from $212.00 to $192.00 and set an “underweight” rating for the company in a report on Monday, October 12th. Wall Street Zen upgraded Alexander’s from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Alexander’s in a report on Monday, November 2nd. Finally, Zacks Research lowered Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $192.00.
Check Out Our Latest Stock Analysis on Alexander’s
Alexander’s Trading Down 0.4%
The company has a debt-to-equity ratio of 3.67, a quick ratio of 16.78 and a current ratio of 12.69. The stock has a market capitalization of $1.29 billion, a P/E ratio of 6.77 and a beta of 0.79. The firm’s fifty day simple moving average is $248.15 and its 200 day simple moving average is $251.94.
Alexander’s (NYSE:ALX – Get Free Report) last issued its earnings results on Monday, November 2nd. The real estate investment trust reported $5.33 EPS for the quarter, missing the consensus estimate of $8.20 by ($2.87). Alexander’s had a net margin of 81.93% and a return on equity of 117.44%. The firm had revenue of $72.06 million during the quarter, compared to analyst estimates of $82.40 million. As a group, equities research analysts forecast that Alexander’s, Inc. will post 15.64 EPS for the current fiscal year.
Alexander’s Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Monday, November 9th will be paid 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 is Monday, November 9th. Alexander’s’s dividend payout ratio (DPR) is 48.36%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Alexander’s by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 34,444 shares of the real estate investment trust’s stock worth $8,136,000 after purchasing an additional 724 shares during the last quarter. Punch & Associates Investment Management Inc. acquired a new stake in shares of Alexander’s in the 1st quarter valued at $4,822,000. Bank of New York Mellon Corp bought a new position in shares of Alexander’s in the 2nd quarter valued at $4,512,000. First Trust Advisors LP increased its stake in shares of Alexander’s by 29.4% in the 1st quarter. First Trust Advisors LP now owns 5,952 shares of the real estate investment trust’s stock valued at $1,406,000 after purchasing an additional 1,351 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Alexander’s in the 2nd quarter valued at $1,489,000. 31.99% of the stock is currently owned by institutional investors and hedge funds.
Alexander’s Company Profile
Alexander’s, Inc is a real estate investment trust (REIT) that owns and leases commercial properties, primarily in the New York City area. Its portfolio includes office, retail and mixed-use real estate, with properties in Manhattan and Queens.
The company’s properties include 731 Lexington Avenue, a mixed-use office and retail building in Manhattan, and the Rego Center shopping complex in Queens. Alexander’s focuses on leasing space to businesses and retailers rather than operating a department store chain.
Alexander’s began as a New York-area department store company and shifted its focus to real estate after its retail business ceased operations in the early 1990s.
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