Alexander’s (NYSE:ALX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Alexander’s (NYSE:ALX) from a hold rating to a buy rating in a report issued on Saturday morning.

Other research analysts have also issued reports about the company. Zacks Research raised Alexander’s from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Piper Sandler upped their target price on Alexander’s from $190.00 to $212.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alexander’s has an average rating of “Moderate Buy” and a consensus price target of $212.00.

Alexander’s Trading Down 2.2%

NYSE:ALX opened at $270.90 on Friday. The firm’s fifty day moving average is $269.35 and its 200-day moving average is $251.33. The company has a debt-to-equity ratio of 3.73, a quick ratio of 16.78 and a current ratio of 16.78. Alexander’s has a 52 week low of $201.28 and a 52 week high of $289.43. The firm has a market cap of $1.38 billion, a P/E ratio of 8.20 and a beta of 0.77.

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

Alexander’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 10th will be paid a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $18.00 annualized dividend and a yield of 6.6%. Alexander’s’s dividend payout ratio is currently 54.46%.

Insider Buying and Selling

In other Alexander’s news, Director Russell B. Wight, Jr. sold 423 shares of Alexander’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total value of $112,941.00. Following the completion of the sale, the director directly owned 900 shares of the company’s stock, valued at approximately $240,300. The trade was a 31.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 26.36% of the company’s stock.

Hedge Funds Weigh In On Alexander’s

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in Alexander’s by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust’s stock valued at $74,284,000 after buying an additional 12,060 shares in the last quarter. M&T Bank Corp acquired a new stake in Alexander’s in the fourth quarter valued at approximately $60,372,000. SG Americas Securities LLC grew its stake in Alexander’s by 582.3% in 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 acquiring an additional 63,776 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Alexander’s by 5.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,391 shares of the real estate investment trust’s stock valued at $15,860,000 after acquiring an additional 3,892 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Alexander’s by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 57,402 shares of the real estate investment trust’s stock valued at $12,512,000 after acquiring an additional 234 shares in the last quarter. Institutional investors own 31.99% of the company’s stock.

About Alexander’s

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.