Alexander’s (NYSE:ALX) Trading Down 16.4% After Earnings Miss

Alexander’s, Inc. (NYSE:ALX) shares traded down 16.4% during trading on Monday following a weaker than expected earnings announcement. The stock traded as low as $212.38 and last traded at $213.1950. 40,119 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 89,063 shares. The stock had previously closed at $255.07.

The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($2.27). Alexander’s had a net margin of 16.99% and a return on equity of 23.91%. The business had revenue of $53.26 million for the quarter, compared to analysts’ expectations of $53.40 million.

Alexander’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be given a $4.50 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $18.00 annualized dividend and a yield of 8.4%. Alexander’s’s dividend payout ratio is 252.10%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ALX shares. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a research report on Wednesday, January 21st. Zacks Research raised Alexander’s from a “hold” rating to a “strong-buy” rating in a research report 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’s stock. According to MarketBeat, the stock has a consensus rating of “Buy”.

Institutional Trading of Alexander’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd increased its stake in shares of Alexander’s by 28.9% in the fourth quarter. Covestor Ltd now owns 241 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 54 shares in the last quarter. May Hill Capital LLC grew its holdings in Alexander’s by 117.3% during the 4th quarter. May Hill Capital LLC now owns 4,890 shares of the real estate investment trust’s stock valued at $1,066,000 after buying an additional 2,640 shares in the last quarter. M&T Bank Corp bought a new position in shares of Alexander’s during the fourth quarter worth $213,000. UBS Group AG boosted its holdings in shares of Alexander’s by 31.5% during the 4th quarter. UBS Group AG now owns 30,784 shares of the real estate investment trust’s stock valued at $6,709,000 after purchasing an additional 7,379 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Alexander’s by 962.3% in the fourth quarter. SG Americas Securities LLC now owns 10,952 shares of the real estate investment trust’s stock worth $2,387,000 after buying an additional 9,921 shares in the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.

Alexander’s Price Performance

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 firm has a market cap of $1.10 billion, a PE ratio of 30.04 and a beta of 0.81. The firm has a fifty day simple moving average of $227.93 and a two-hundred day simple moving average of $229.43.

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.