Alexander’s (NYSE:ALX) Reaches New 12-Month High – What’s Next?

Alexander’s, Inc. (NYSE:ALX) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $261.00 and last traded at $257.5860, with a volume of 346 shares changing hands. The stock had previously closed at $255.94.

Wall Street Analyst Weigh In

ALX has been the subject of several research reports. Zacks Research lowered Alexander’s from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Alexander’s Stock Performance

The firm’s fifty day simple moving average is $243.54 and its 200 day simple moving average is $234.65. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 65.49 and a beta of 0.78. The company has a debt-to-equity ratio of 9.17, a current ratio of 6.92 and a quick ratio of 6.92.

Alexander’s (NYSE:ALX) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($2.17). Alexander’s had a net margin of 9.72% and a return on equity of 17.38%. The firm had revenue of $53.41 million for the quarter, compared to analyst estimates of $53.40 million. On average, sell-side analysts forecast that Alexander’s, Inc. will post 12.08 EPS for the current year.

Alexander’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were issued a $4.50 dividend. The ex-dividend date was Monday, May 11th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 6.9%. Alexander’s’s dividend payout ratio is presently 450.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALX. EverSource Wealth Advisors LLC lifted its stake in Alexander’s by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Van ECK Associates Corp purchased a new position in Alexander’s during the 3rd quarter valued at about $32,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Alexander’s in the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC increased its holdings in shares of Alexander’s by 89.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 98 shares during the period. Finally, Larson Financial Group LLC lifted its position 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 worth $48,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.

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.