JPMorgan Chase & Co. Raises Position in Alexander’s, Inc. $ALX

JPMorgan Chase & Co. grew its stake in Alexander’s, Inc. (NYSE:ALX) by 40.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 19,230 shares of the real estate investment trust’s stock after purchasing an additional 5,519 shares during the period. JPMorgan Chase & Co.’s holdings in Alexander’s were worth $4,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALX. Advisory Services Network LLC raised its holdings in Alexander’s by 25.4% during the 3rd quarter. Advisory Services Network LLC now owns 1,670 shares of the real estate investment trust’s stock valued at $392,000 after buying an additional 338 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Alexander’s during the third quarter worth $864,000. Dark Forest Capital Management LP purchased a new position in Alexander’s during the third quarter worth $1,463,000. Verition Fund Management LLC bought a new position in Alexander’s during the third quarter valued at $225,000. Finally, Mariner LLC raised its stake in shares of Alexander’s by 5.0% in the third quarter. Mariner LLC now owns 6,663 shares of the real estate investment trust’s stock valued at $1,562,000 after acquiring an additional 317 shares during the period. Hedge funds and other institutional investors own 31.99% of the company’s stock.

Alexander’s Price Performance

Shares of ALX stock opened at $230.56 on Friday. The stock has a 50 day moving average price of $239.41 and a 200 day moving average price of $230.65. Alexander’s, Inc. has a 52-week low of $189.05 and a 52-week high of $260.84. The company has a debt-to-equity ratio of 7.60, a quick ratio of 8.36 and a current ratio of 8.36. The firm has a market capitalization of $1.18 billion, a P/E ratio of 42.00 and a beta of 0.79.

Alexander’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a dividend yield of 7.8%. The ex-dividend date was Tuesday, February 17th. Alexander’s’s dividend payout ratio (DPR) is 327.87%.

Analyst Ratings Changes

ALX has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, January 21st. Zacks Research downgraded shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Alexander’s Company Profile

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.