Alexander’s (NYSE:ALX) Issues Quarterly Earnings Results, Beats Estimates By $27.24 EPS

Alexander’s (NYSE:ALX) announced its earnings results on Monday. The real estate investment trust reported $30.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $27.24, FiscalAI reports. Alexander’s had a return on equity of 17.38% and a net margin of 9.72%.The company had revenue of $54.71 million for the quarter, compared to analyst estimates of $54.10 million.

Alexander’s Stock Up 0.5%

Alexander’s stock opened at $256.25 on Monday. Alexander’s has a 12 month low of $201.28 and a 12 month high of $289.43. The stock has a market capitalization of $1.31 billion, a PE ratio of 64.06 and a beta of 0.77. The company has a debt-to-equity ratio of 9.17, a current ratio of 6.92 and a quick ratio of 6.92. The business has a 50 day simple moving average of $266.51 and a 200-day simple moving average of $249.82.

Alexander’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 10th will be issued a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Monday, August 10th. Alexander’s’s dividend payout ratio (DPR) is presently 450.00%.

Analyst Ratings Changes

Several research firms have recently commented on ALX. Piper Sandler lifted their price objective on shares of Alexander’s from $190.00 to $212.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a report on Friday, July 17th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $212.00.

Insider Transactions at Alexander’s

In other news, Director Russell B. Wight, Jr. sold 423 shares of Alexander’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total value of $112,941.00. Following the sale, the director owned 900 shares in the company, valued at $240,300. This trade represents a 31.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alexander’s

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of Alexander’s by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust’s stock valued at $74,284,000 after buying an additional 12,060 shares during the period. Jane Street Group LLC increased its position in shares of Alexander’s by 48.3% during the 1st quarter. Jane Street Group LLC now owns 4,996 shares of the real estate investment trust’s stock worth $1,045,000 after purchasing an additional 1,628 shares during the last quarter. Strs Ohio purchased a new stake in Alexander’s in the 1st quarter valued at about $84,000. Creative Planning lifted its position in Alexander’s by 17.3% in the second quarter. Creative Planning now owns 1,201 shares of the real estate investment trust’s stock valued at $271,000 after buying an additional 177 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Alexander’s by 11.4% in the second quarter. Legal & General Group Plc now owns 2,975 shares of the real estate investment trust’s stock valued at $670,000 after buying an additional 305 shares during the last quarter. Institutional investors and hedge funds 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.