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

Alexander’s (NYSE:ALX) posted its quarterly earnings results on Monday. The real estate investment trust reported $5.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.20 by ($2.87), FiscalAI reports. The business had revenue of $72.06 million during the quarter, compared to the consensus estimate of $82.40 million. Alexander’s had a return on equity of 135.48% and a net margin of 81.93%.

Alexander’s Stock Down 2.2%

NYSE:ALX opened at $245.29 on Wednesday. The business’s fifty day moving average price is $249.81 and its 200 day moving average price is $251.75. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 6.60 and a beta of 0.79. The company has a current ratio of 16.78, a quick ratio of 16.78 and a debt-to-equity ratio of 3.73. Alexander’s has a 1-year low of $201.28 and a 1-year high of $289.43.

Alexander’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Monday, November 9th will be given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Monday, November 9th. Alexander’s’s payout ratio is presently 54.46%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALX. Wall Street Zen upgraded shares of Alexander’s from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Piper Sandler reduced their price objective on Alexander’s from $212.00 to $192.00 and set an “underweight” rating for the company in a research note on Monday, October 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alexander’s in a report on Monday. Finally, Zacks Research cut shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $192.00.

About Alexander’s

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust that owns, manages and leases a portfolio of office, retail and residential properties, primarily in the New York metropolitan area. Its properties are generally located in densely populated, high-traffic locations and serve commercial tenants, retailers and residents.

The company’s portfolio includes mixed-use and office properties in Manhattan and surrounding communities. Its best-known asset is 731 Lexington Avenue, a major mixed-use development in Manhattan that includes office space, retail establishments and residential units.