Alexander’s (NYSE:ALX) Announces Quarterly Earnings Results

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

Alexander’s Trading Up 0.5%

NYSE:ALX opened at $256.25 on Monday. The business’s 50-day moving average is $266.51 and its two-hundred day moving average is $249.82. 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 has a 12 month low of $201.28 and a 12 month high of $289.43. The firm has a market capitalization of $1.31 billion, a PE ratio of 64.06 and a beta of 0.77.

Alexander’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors 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 is Monday, August 10th. Alexander’s’s dividend payout ratio is currently 450.00%.

Insider Buying and Selling at Alexander’s

In other Alexander’s news, Director Russell B. Wight, Jr. sold 423 shares of the company’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 completion of the transaction, the director owned 900 shares in the company, valued at $240,300. This 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 the SEC website. 26.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC acquired a new stake in Alexander’s in the fourth quarter valued at $300,000. Invesco Ltd. grew its holdings in Alexander’s by 5.6% during the 4th quarter. Invesco Ltd. now owns 4,920 shares of the real estate investment trust’s stock worth $1,072,000 after acquiring an additional 263 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Alexander’s in the 4th quarter worth about $38,000. Susquehanna Portfolio Strategies LLC raised its stake in shares of Alexander’s by 48.8% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 7,948 shares of the real estate investment trust’s stock valued at $1,732,000 after purchasing an additional 2,606 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Alexander’s by 8.4% in the 4th quarter. Millennium Management LLC now owns 25,950 shares of the real estate investment trust’s stock valued at $5,656,000 after purchasing an additional 2,015 shares in the last quarter. Institutional investors and hedge funds own 31.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ALX shares. Piper Sandler lifted their price objective on Alexander’s from $190.00 to $212.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings reissued 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 assigned a Sell rating to the stock. According to MarketBeat.com, Alexander’s has an average rating of “Reduce” and an average price target of $212.00.

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.