Alexander’s (NYSE:ALX) Releases Earnings Results, Misses Estimates By $2.87 EPS

Alexander’s (NYSE:ALX) announced its quarterly earnings results on Monday. The real estate investment trust reported $5.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.20 by ($2.87), FiscalAI reports. Alexander’s had a net margin of 79.06% and a return on equity of 123.09%. The business had revenue of $72.06 million during the quarter, compared to the consensus estimate of $82.40 million.

Alexander’s Stock Performance

Alexander’s stock opened at $251.67 on Tuesday. The company has a debt-to-equity ratio of 3.73, a current ratio of 16.78 and a quick ratio of 16.78. The stock has a fifty day moving average price of $250.37 and a two-hundred day moving average price of $251.71. Alexander’s has a 52-week low of $201.28 and a 52-week high of $289.43. The firm has a market capitalization of $1.29 billion, a P/E ratio of 7.61 and a beta of 0.80.

Alexander’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Monday, November 9th will be given a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Monday, November 9th. Alexander’s’s dividend payout ratio is 54.46%.

Wall Street Analysts Forecast Growth

ALX has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of Alexander’s from $212.00 to $192.00 and set an “underweight” rating for the company in a report on Monday, October 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Alexander’s in a research note on Monday. Wall Street Zen raised shares of Alexander’s from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research lowered shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $192.00.

About Alexander’s

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust that owns, manages and leases a portfolio of office, retail and residential properties, primarily in the New York metropolitan area. Its properties are generally located in densely populated, high-traffic locations and serve commercial tenants, retailers and residents.

The company’s portfolio includes mixed-use and office properties in Manhattan and surrounding communities. Its best-known asset is 731 Lexington Avenue, a major mixed-use development in Manhattan that includes office space, retail establishments and residential units.