Alexander’s (NYSE:ALX) Stock Rating Upgraded by Zacks Research

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

A number of other equities analysts have also weighed in on ALX. Weiss Ratings raised shares of Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday. Piper Sandler lifted their target price on Alexander’s from $190.00 to $212.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

Alexander’s Stock Up 1.0%

NYSE:ALX opened at $276.62 on Tuesday. Alexander’s has a 1 year low of $201.28 and a 1 year high of $289.43. The stock has a 50-day moving average price of $267.82 and a two-hundred day moving average price of $250.64. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 8.37 and a beta of 0.77. The company has a current ratio of 16.78, a quick ratio of 6.92 and a debt-to-equity ratio of 3.73.

Alexander’s (NYSE:ALX) last released its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $3.02 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.02. The business had revenue of $54.71 million for the quarter, compared to analysts’ expectations of $54.10 million. Alexander’s had a return on equity of 123.09% and a net margin of 79.06%. As a group, equities analysts expect that Alexander’s will post 16.52 earnings per share for the current year.

Insider Transactions at Alexander’s

In other news, Director Russell B. Wight, Jr. sold 423 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $267.00, for a total value of $112,941.00. Following the completion of the sale, the director directly owned 900 shares of the company’s stock, valued at $240,300. This trade represents a 31.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 26.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALX. M&T Bank Corp acquired a new position in Alexander’s in the 4th quarter valued at $60,372,000. SG Americas Securities LLC increased its holdings in shares of Alexander’s by 582.3% during the first quarter. SG Americas Securities LLC now owns 74,728 shares of the real estate investment trust’s stock worth $17,651,000 after purchasing an additional 63,776 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Alexander’s by 626.7% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 43,600 shares of the real estate investment trust’s stock valued at $9,502,000 after buying an additional 37,600 shares during the period. Norges Bank bought a new position in Alexander’s during the 4th quarter worth $6,211,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Alexander’s by 582.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 25,156 shares of the real estate investment trust’s stock valued at $5,482,000 after acquiring an additional 21,471 shares during the period. 31.99% of the stock is owned by institutional investors.

About Alexander’s

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.