Alexander’s, Inc. to Issue Quarterly Dividend of $4.50 (NYSE:ALX)

Alexander’s, Inc. (NYSE:ALX) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Monday, August 10th will be paid a dividend of 4.50 per share by the real estate investment trust on Friday, August 21st. This represents a $18.00 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date is Friday, August 7th.

Alexander’s has raised its dividend payment by an average of 12.5% annually over the last three years and has increased its dividend every year for the last 9 years. Alexander’s has a payout ratio of 288.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Alexander’s to earn $17.99 per share next year, which means the company may not be able to cover its $18.00 annual dividend with an expected future payout ratio of 100.1%.

Alexander’s stock traded down $6.39 during trading on Friday, reaching $250.60. The stock had a trading volume of 171 shares, compared to its average volume of 10,740. Alexander’s has a 52-week low of $223.02 and a 52-week high of $391.75. The business has a 50 day moving average price of $249.05 and a 200 day moving average price of $282.82. The company has a quick ratio of 15.00, a current ratio of 14.99 and a debt-to-equity ratio of 4.76. The stock has a market cap of $1.31 billion, a PE ratio of 27.80 and a beta of 0.57.

Alexander’s (NYSE:ALX) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.21). Alexander’s had a return on equity of 18.36% and a net margin of 20.92%. The company had revenue of $54.11 million for the quarter, compared to analyst estimates of $56.20 million. On average, equities analysts predict that Alexander’s will post 13.41 EPS for the current fiscal year.

A number of analysts have weighed in on ALX shares. Piper Sandler cut shares of Alexander’s from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $300.00 to $280.00 in a report on Monday, May 4th. Zacks Investment Research raised shares of Alexander’s from a “sell” rating to a “hold” rating in a report on Tuesday, July 7th.

About Alexander’s

Alexander’s, Inc is a real estate investment trust, which engages in leasing, managing, development and redeveloping its properties. Its operating properties are located in the greater New York City metropolitan area. The company was founded on May 16, 1955 and is headquartered in Paramus, NJ.

Featured Article: Cash Flow Analysis in Stock Selection

Dividend History for Alexander`s (NYSE:ALX)

Receive News & Ratings for Alexander's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alexander's and related companies with's FREE daily email newsletter.