Alexander’s (NYSE:ALX) Sets New 52-Week High – Here’s What Happened

Alexander’s, Inc. (NYSE:ALX) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $261.00 and last traded at $257.5860, with a volume of 346 shares. The stock had previously closed at $255.94.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ALX shares. Zacks Research cut shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Alexander’s Trading Up 0.6%

The business’s 50 day moving average price is $244.73 and its 200-day moving average price is $235.44. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 66.85 and a beta of 0.78. The company has a debt-to-equity ratio of 9.17, a quick ratio of 6.92 and a current ratio of 6.92.

Alexander’s (NYSE:ALX) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.91 EPS 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 business had revenue of $53.41 million during the quarter, compared to analyst estimates of $53.40 million. Equities analysts expect that Alexander’s, Inc. will post 12.08 EPS for the current year.

Alexander’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were issued a $4.50 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $18.00 annualized dividend and a dividend yield of 6.7%. Alexander’s’s payout ratio is 450.00%.

Institutional Trading of Alexander’s

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of Alexander’s by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust’s stock worth $74,284,000 after buying an additional 12,060 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Alexander’s during the 4th quarter worth about $60,372,000. SG Americas Securities LLC raised its position in shares of Alexander’s by 582.3% during the 1st quarter. SG Americas Securities LLC now owns 74,728 shares of the real estate investment trust’s stock worth $17,651,000 after buying an additional 63,776 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alexander’s by 5.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,391 shares of the real estate investment trust’s stock worth $15,860,000 after purchasing an additional 3,892 shares during the period. Finally, Geode Capital Management LLC lifted its position in Alexander’s by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 57,402 shares of the real estate investment trust’s stock worth $12,512,000 after purchasing an additional 234 shares during the period. 31.99% of the stock is currently owned by institutional investors.

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.