Russell Wight, Jr. Sells 423 Shares of Alexander’s (NYSE:ALX) Stock

Alexander’s, Inc. (NYSE:ALX) Director Russell Wight, Jr. sold 423 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was 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 in the company, valued at $240,300. This represents a 31.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alexander’s Stock Performance

Shares of NYSE ALX opened at $262.95 on Friday. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 9.17. The firm’s 50-day moving average price is $245.88 and its two-hundred day moving average price is $236.27. Alexander’s, Inc. has a 52-week low of $201.28 and a 52-week high of $271.02. The stock has a market capitalization of $1.34 billion, a P/E ratio of 65.74 and a beta of 0.78.

Alexander’s (NYSE:ALX) last issued its earnings results on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($2.17). Alexander’s had a return on equity of 17.38% and a net margin of 9.72%.The business had revenue of $53.41 million during the quarter, compared to the consensus estimate of $53.40 million. As a group, sell-side analysts forecast that Alexander’s, Inc. will post 12.08 earnings per share 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 issued a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Monday, May 11th. Alexander’s’s payout ratio is 450.00%.

Institutional Investors Weigh In On Alexander’s

A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in shares of Alexander’s by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust’s stock valued at $74,284,000 after acquiring an additional 12,060 shares during the period. M&T Bank Corp acquired a new position in shares of Alexander’s during the fourth quarter valued at approximately $60,372,000. SG Americas Securities LLC increased its stake in shares of Alexander’s by 582.3% during the first quarter. SG Americas Securities LLC now owns 74,728 shares of the real estate investment trust’s stock valued at $17,651,000 after acquiring an additional 63,776 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alexander’s by 5.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,391 shares of the real estate investment trust’s stock valued at $15,860,000 after acquiring an additional 3,892 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Alexander’s by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 57,402 shares of the real estate investment trust’s stock valued at $12,512,000 after acquiring an additional 234 shares during the period. Institutional investors own 31.99% of the company’s stock.

Analysts Set New Price Targets

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

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.