Zacks Research Upgrades Alexander’s (NYSE:ALX) to Strong-Buy

Alexander’s (NYSE:ALX) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Alexander’s Stock Performance

Shares of Alexander’s stock opened at $250.62 on Monday. The company has a debt-to-equity ratio of 7.69, a quick ratio of 10.36 and a current ratio of 10.36. The business’s 50 day moving average price is $225.30 and its 200 day moving average price is $229.37. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 35.10 and a beta of 0.82. Alexander’s has a one year low of $189.05 and a one year high of $260.84.

Alexander’s (NYSE:ALX) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.41. Alexander’s had a net margin of 16.99% and a return on equity of 23.91%. The business had revenue of $53.42 million during the quarter, compared to the consensus estimate of $51.60 million. On average, research analysts predict that Alexander’s will post 11.5 EPS for the current year.

Institutional Investors Weigh In On Alexander’s

A number of institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in 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 valued at $74,284,000 after purchasing an additional 12,060 shares in the last quarter. Jane Street Group LLC grew its position in shares of Alexander’s by 48.3% in the 1st quarter. Jane Street Group LLC now owns 4,996 shares of the real estate investment trust’s stock worth $1,045,000 after acquiring an additional 1,628 shares in the last quarter. Strs Ohio acquired a new stake in shares of Alexander’s during the 1st quarter valued at approximately $84,000. Inspire Investing LLC lifted its position in shares of Alexander’s by 5.2% in the 2nd quarter. Inspire Investing LLC now owns 1,733 shares of the real estate investment trust’s stock worth $390,000 after buying an additional 85 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Alexander’s by 275.0% during the second quarter. CWM LLC now owns 450 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.

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.