Alexander’s (NYSE:ALX) Price Target Cut to $192.00 by Analysts at Piper Sandler

Alexander’s (NYSE:ALX) had its price objective trimmed by Piper Sandler from $212.00 to $192.00 in a report released on Monday,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

ALX has been the subject of several other reports. Wall Street Zen upgraded shares of Alexander’s from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research downgraded Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. Finally, Weiss Ratings raised Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $192.00.

Alexander’s Trading Up 0.6%

Shares of Alexander’s stock opened at $242.40 on Monday. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 7.33 and a beta of 0.80. The company has a quick ratio of 16.78, a current ratio of 16.78 and a debt-to-equity ratio of 3.73. Alexander’s has a 12-month low of $201.28 and a 12-month high of $289.43. The firm’s 50-day moving average price is $258.60 and its two-hundred day moving average price is $256.55.

Alexander’s (NYSE:ALX) last released its earnings results on Monday, August 3rd. The real estate investment trust reported $3.02 EPS for the quarter, beating the consensus estimate of $3.00 by $0.02. The firm had revenue of $54.71 million for the quarter, compared to analyst estimates of $54.10 million. Alexander’s had a net margin of 79.06% and a return on equity of 123.09%. On average, analysts forecast that Alexander’s will post 16.52 earnings per share for the current fiscal year.

Alexander’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were issued a $4.50 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.4%. Alexander’s’s dividend payout ratio is 54.46%.

Institutional Investors Weigh In On Alexander’s

A number of hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new stake in shares of Alexander’s during the 2nd quarter valued at $1,489,000. Bank of New York Mellon Corp acquired a new stake in shares of Alexander’s during the second quarter valued at about $4,512,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Alexander’s during the first quarter valued at about $4,822,000. SG Americas Securities LLC boosted its stake in shares of Alexander’s by 582.3% during the first quarter. SG Americas Securities LLC now owns 74,728 shares of the real estate investment trust’s stock valued at $17,651,000 after purchasing an additional 63,776 shares in the last quarter. Finally, Militia Capital Management LLC bought a new stake in shares of Alexander’s during the first quarter worth about $496,000. 31.99% of the stock is currently owned by institutional investors and hedge funds.

Alexander’s Company Profile

Alexander’s, Inc (NYSE: ALX) is a self-administered and self-managed real estate investment trust that owns, manages and develops commercial and residential properties primarily in the New York metropolitan area. The company’s portfolio is concentrated in high-density locations with access to transportation, employment centers and retail activity.

Alexander’s properties include 731 Lexington Avenue in Manhattan, a mixed-use office and retail complex that includes Bloomberg’s headquarters; Rego Park Center, a retail and office complex in Queens; and The Alexander, a residential apartment property in Manhattan.