Alexander’s (NYSE:ALX) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Alexander’s (NYSE:ALX) from a hold rating to a buy rating in a report released on Saturday.

Several other research firms also recently issued reports on ALX. Weiss Ratings upgraded shares of Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday. Zacks Research upgraded shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler lifted their target price on Alexander’s from $190.00 to $212.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alexander’s currently has an average rating of “Moderate Buy” and an average price target of $212.00.

Alexander’s Trading Up 1.5%

Shares of Alexander’s stock opened at $276.86 on Friday. Alexander’s has a 1 year low of $201.28 and a 1 year high of $289.43. The company’s fifty day simple moving average is $268.88 and its 200-day simple moving average is $251.04. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 8.38 and a beta of 0.77. The company has a current ratio of 16.78, a quick ratio of 6.92 and a debt-to-equity ratio of 3.73.

Alexander’s (NYSE:ALX) last released its earnings results on Monday, August 3rd. The real estate investment trust reported $3.02 EPS for the quarter, beating the consensus estimate of $3.00 by $0.02. Alexander’s had a net margin of 79.06% and a return on equity of 123.09%. The firm had revenue of $54.71 million during the quarter, compared to analysts’ expectations of $54.10 million. As a group, sell-side analysts expect that Alexander’s will post 16.52 EPS for the current year.

Alexander’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 10th will be given a dividend of $4.50 per share. The ex-dividend date is Monday, August 10th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 6.5%. Alexander’s’s dividend payout ratio (DPR) is 54.46%.

Insider Transactions at Alexander’s

In related 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 transaction of $112,941.00. Following the completion of the transaction, the director directly owned 900 shares of the company’s stock, valued at $240,300. This trade represents a 31.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 26.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ALX. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquired a new stake in Alexander’s during the 3rd quarter valued at $32,000. Garton & Associates Financial Advisors LLC bought a new position in Alexander’s in the 4th quarter valued at $38,000. Tower Research Capital LLC TRC raised its position in 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 last quarter. Finally, Larson Financial Group LLC boosted its stake in 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. 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.