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

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

Analysts Set New Price Targets

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

Alexander’s Trading Up 1.3%

The firm 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 current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 9.17. The company has a fifty day moving average price of $243.54 and a 200-day moving average price of $234.65.

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

Alexander’s Dividend Announcement

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

Institutional Investors Weigh In On Alexander’s

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd boosted its holdings in Alexander’s by 28.9% in the fourth quarter. Covestor Ltd now owns 241 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 54 shares in the last quarter. Creative Planning raised its holdings in Alexander’s by 4.9% during the third quarter. Creative Planning now owns 1,260 shares of the real estate investment trust’s stock valued at $296,000 after buying an additional 59 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Alexander’s by 9.9% during the second quarter. Daiwa Securities Group Inc. now owns 766 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 69 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in shares of Alexander’s by 7.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 958 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 70 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Alexander’s by 7.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,160 shares of the real estate investment trust’s stock worth $274,000 after buying an additional 83 shares during the last quarter. 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.