Alexander’s (NYSE:ALX) Releases Earnings Results, Misses Expectations By $2.27 EPS

Alexander’s (NYSE:ALX) released its quarterly earnings data on Monday. The real estate investment trust reported $0.75 earnings per share for the quarter, missing the consensus estimate of $3.02 by ($2.27), FiscalAI reports. Alexander’s had a return on equity of 23.91% and a net margin of 16.99%.The business had revenue of $53.26 million for the quarter, compared to analyst estimates of $53.40 million.

Alexander’s Trading Up 0.4%

NYSE:ALX opened at $256.79 on Monday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 35.96 and a beta of 0.81. The company has a debt-to-equity ratio of 7.69, a quick ratio of 10.36 and a current ratio of 10.36. Alexander’s has a 1 year low of $189.05 and a 1 year high of $260.84. The business has a fifty day moving average of $227.93 and a 200-day moving average of $229.43.

Alexander’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Tuesday, February 17th. Alexander’s’s payout ratio is 252.10%.

Hedge Funds Weigh In On Alexander’s

Several large investors have recently bought and sold shares of ALX. EverSource Wealth Advisors LLC raised its stake in 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 valued at $26,000 after purchasing an additional 100 shares during the period. Van ECK Associates Corp purchased a new position in shares of Alexander’s during the third quarter valued at $32,000. Larson Financial Group LLC grew its holdings in shares of 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 buying an additional 104 shares in the last quarter. Tower Research Capital LLC TRC raised its position 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 buying an additional 98 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Alexander’s by 393.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 237 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 31.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, January 21st. Zacks Research upgraded Alexander’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

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.