Alexander’s (NYSE:ALX) Reaches New 1-Year High – Here’s What Happened

Alexander’s, Inc. (NYSE:ALX)’s stock price hit a new 52-week high on Friday . The company traded as high as $272.25 and last traded at $272.34, with a volume of 23543 shares changing hands. The stock had previously closed at $266.37.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALX. Zacks Research cut shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a report on Monday, April 20th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Alexander’s Stock Performance

The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 9.17. The company’s 50-day moving average is $251.44 and its two-hundred day moving average is $239.98. The stock has a market capitalization of $1.41 billion, a P/E ratio of 68.83 and a beta of 0.78.

Alexander’s (NYSE:ALX) last posted its 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 return on equity of 17.38% and a net margin of 9.72%.The firm had revenue of $53.41 million during the quarter, compared to the consensus estimate of $53.40 million. As a group, sell-side analysts anticipate that Alexander’s, Inc. will post 12.08 EPS for the current fiscal year.

Alexander’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 11th were issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend was Monday, May 11th. Alexander’s’s dividend payout ratio is 450.00%.

Insider Buying and Selling

In related 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 sale, the director directly owned 900 shares in the company, valued at $240,300. This trade represents a 31.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alexander’s

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in shares of 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 worth $26,000 after buying an additional 100 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Alexander’s in the 3rd quarter worth approximately $32,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Alexander’s in the fourth quarter valued at approximately $38,000. Larson Financial Group LLC boosted its holdings in shares of Alexander’s by 104.0% in the third quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 104 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of 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 acquiring an additional 98 shares during the period. Institutional investors and hedge funds 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.