StockNews.com Lowers Alexander’s (NYSE:ALX) to Hold

StockNews.com lowered shares of Alexander’s (NYSE:ALX) from a buy rating to a hold rating in a research note released on Friday.

Separately, Piper Sandler cut their price objective on Alexander’s from $160.00 to $145.00 and set an underweight rating on the stock in a research report on Monday, May 13th.

Alexander’s Stock Performance

NYSE ALX opened at $213.25 on Friday. The stock has a market capitalization of $1.09 billion, a PE ratio of 10.19 and a beta of 0.79. The company has a debt-to-equity ratio of 4.75, a current ratio of 14.35 and a quick ratio of 14.35. The business has a 50 day simple moving average of $214.77 and a two-hundred day simple moving average of $214.03. Alexander’s has a 1-year low of $162.50 and a 1-year high of $237.18.

Alexander’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 13th were issued a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 8.44%. The ex-dividend date of this dividend was Friday, May 10th. Alexander’s’s dividend payout ratio is 86.04%.

Institutional Investors Weigh In On Alexander’s

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in Alexander’s by 19.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 351,115 shares of the real estate investment trust’s stock valued at $74,988,000 after buying an additional 57,951 shares during the last quarter. Vanguard Group Inc. raised its stake in Alexander’s by 3.3% in the third quarter. Vanguard Group Inc. now owns 326,963 shares of the real estate investment trust’s stock valued at $59,582,000 after buying an additional 10,513 shares during the last quarter. Denali Advisors LLC raised its stake in Alexander’s by 19.4% in the first quarter. Denali Advisors LLC now owns 12,900 shares of the real estate investment trust’s stock valued at $2,801,000 after buying an additional 2,100 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Alexander’s by 16.1% in the first quarter. Los Angeles Capital Management LLC now owns 11,583 shares of the real estate investment trust’s stock valued at $2,515,000 after buying an additional 1,610 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in Alexander’s by 2.1% in the third quarter. Mutual of America Capital Management LLC now owns 7,726 shares of the real estate investment trust’s stock valued at $1,408,000 after buying an additional 158 shares during the last quarter. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

Alexander’s Company Profile

Alexander's, Inc is a real estate investment trust which has five properties in New York City.