Key Points
- Director Russell Wight, Jr. sold 423 shares of Alexander's at $267.00 each, totaling about $112,941. After the transaction, he still owned 900 shares, a drop of nearly 32% in his stake.
- Alexander's reported quarterly EPS of $0.91, well below the consensus estimate of $3.08, though revenue of $53.41 million was essentially in line with expectations.
- The REIT recently paid a $4.50 quarterly dividend and now offers an annualized yield of 6.7%, but its payout ratio is very high at 450%.
Alexander's, Inc. (NYSE:ALX - Get Free Report) Director Russell Wight, Jr. sold 423 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $267.00, for a total value of $112,941.00. Following the sale, the director owned 900 shares of the company's stock, valued at approximately $240,300. This represents a 31.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Alexander's Price Performance
Shares of NYSE:ALX opened at $267.83 on Thursday. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 9.17. Alexander's, Inc. has a 1 year low of $201.28 and a 1 year high of $271.02. The business has a fifty day simple moving average of $245.35 and a 200 day simple moving average of $235.88. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 66.96 and a beta of 0.78.
Alexander's (NYSE:ALX - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by ($2.17). Alexander's had a return on equity of 17.38% and a net margin of 9.72%.The firm had revenue of $53.41 million for the quarter, compared to analysts' expectations of $53.40 million. As a group, sell-side analysts predict that Alexander's, Inc. will post 12.08 earnings per share for the current fiscal year.
Alexander's Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 11th were paid a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Monday, May 11th. Alexander's's payout ratio is presently 450.00%.
Wall Street Analyst Weigh In
ALX has been the subject of several analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Alexander's in a research note on Monday, April 20th. Zacks Research lowered shares of Alexander's from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold".
View Our Latest Report on ALX
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in Alexander's by 962.3% during the 4th quarter. SG Americas Securities LLC now owns 10,952 shares of the real estate investment trust's stock worth $2,387,000 after acquiring an additional 9,921 shares during the last quarter. M&T Bank Corp acquired a new position in Alexander's during the 4th quarter worth $60,372,000. JPMorgan Chase & Co. lifted its position in Alexander's by 40.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,230 shares of the real estate investment trust's stock worth $4,509,000 after acquiring an additional 5,519 shares during the last quarter. UBS Group AG lifted its position in Alexander's by 31.5% during the 4th quarter. UBS Group AG now owns 30,784 shares of the real estate investment trust's stock worth $6,709,000 after acquiring an additional 7,379 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC lifted its position in Alexander's by 13.0% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 20,286 shares of the real estate investment trust's stock worth $4,757,000 after acquiring an additional 2,332 shares during the last quarter. Institutional investors and hedge funds own 31.99% of the company's stock.
About Alexander's
(
Get Free Report)
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.
Further Reading
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