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 $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.02 by ($2.27), FiscalAI reports. Alexander’s had a net margin of 16.99% and a return on equity of 23.91%. The company had revenue of $53.26 million during the quarter, compared to analysts’ expectations of $53.40 million.

Alexander’s Stock Up 0.4%

Shares of NYSE ALX opened at $256.79 on Monday. The stock has a fifty day moving average price of $227.93 and a 200 day moving average price of $229.43. The company has a market cap of $1.31 billion, a P/E ratio of 35.96 and a beta of 0.81. Alexander’s has a 12-month low of $189.05 and a 12-month high of $260.84. The company has a current ratio of 10.36, a quick ratio of 10.36 and a debt-to-equity ratio of 7.69.

Alexander’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be issued a dividend of $4.50 per share. The ex-dividend date is Tuesday, February 17th. This represents a $18.00 annualized dividend and a dividend yield of 7.0%. Alexander’s’s payout ratio is presently 252.10%.

Institutional Investors Weigh In On Alexander’s

Large investors have recently added to or reduced their stakes in the company. Creative Planning grew its stake in Alexander’s by 4.9% in the third quarter. Creative Planning now owns 1,260 shares of the real estate investment trust’s stock worth $296,000 after purchasing an additional 59 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Alexander’s by 9.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 766 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 69 shares in the last quarter. Rhumbline Advisers grew its position in shares of Alexander’s by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 3,784 shares of the real estate investment trust’s stock worth $853,000 after acquiring an additional 96 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Alexander’s by 89.1% during 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 acquiring an additional 98 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Alexander’s by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. 31.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALX has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, January 21st. Zacks Research raised shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

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.