Punch & Associates Investment Management Inc. Buys Shares of 20,415 Alexander’s, Inc. $ALX

Punch & Associates Investment Management Inc. purchased a new stake in shares of Alexander’s, Inc. (NYSE:ALX) during the first quarter, Holdings Channel.com reports. The fund purchased 20,415 shares of the real estate investment trust’s stock, valued at approximately $4,822,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ALX. EverSource Wealth Advisors LLC grew its stake in shares of Alexander’s by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 100 shares during the period. Van ECK Associates Corp bought a new stake in Alexander’s in the 3rd quarter valued at about $32,000. Garton & Associates Financial Advisors LLC bought a new stake in Alexander’s in the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC lifted its holdings in Alexander’s by 89.1% during the second quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 98 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Alexander’s by 104.0% during the third quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 31.99% of the company’s stock.

Alexander’s Price Performance

Alexander’s stock opened at $276.08 on Friday. Alexander’s, Inc. has a one year low of $201.28 and a one year high of $289.43. The business has a fifty day moving average price of $264.48 and a 200-day moving average price of $248.39. The company has a debt-to-equity ratio of 9.17, a current ratio of 6.92 and a quick ratio of 6.92. The firm has a market capitalization of $1.41 billion, a P/E ratio of 69.02 and a beta of 0.76.

Alexander’s (NYSE:ALX) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($2.17). Alexander’s had a net margin of 9.72% and a return on equity of 17.38%. The company had revenue of $53.41 million during the quarter, compared to analysts’ expectations of $53.40 million. As a group, equities research analysts forecast that Alexander’s, Inc. will post 11.87 EPS for the current year.

Alexander’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 11th were paid a $4.50 dividend. The ex-dividend date was Monday, May 11th. This represents a $18.00 annualized dividend and a yield of 6.5%. Alexander’s’s dividend payout ratio (DPR) is currently 450.00%.

Insiders Place Their Bets

In other Alexander’s news, Director Russell B. Wight, Jr. sold 423 shares of Alexander’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $267.00, for a total transaction of $112,941.00. Following the completion of the transaction, the director owned 900 shares of the company’s stock, valued at $240,300. The trade was a 31.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 26.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ALX shares. Piper Sandler increased their target price on shares of Alexander’s from $190.00 to $212.00 and gave the stock an “underweight” rating in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Alexander’s in a research report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alexander’s presently has a consensus rating of “Reduce” and an average target price of $212.00.

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.