Alexander’s (NYSE:ALX) Posts Earnings Results, Misses Expectations By $2.87 EPS

Alexander’s (NYSE:ALX) announced its quarterly earnings results on Monday. The real estate investment trust reported $5.33 EPS for the quarter, missing analysts’ consensus estimates of $8.20 by ($2.87), FiscalAI reports. The company had revenue of $72.06 million during the quarter, compared to analyst estimates of $82.40 million. Alexander’s had a net margin of 79.06% and a return on equity of 123.09%.

Alexander’s Trading Up 0.2%

Alexander’s stock opened at $252.02 on Monday. The company has a current ratio of 16.78, a quick ratio of 16.78 and a debt-to-equity ratio of 3.73. Alexander’s has a 12-month low of $201.28 and a 12-month high of $289.43. The firm has a 50 day moving average of $250.62 and a 200 day moving average of $251.59. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 7.63 and a beta of 0.80.

Alexander’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Monday, November 9th will be given a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Monday, November 9th. Alexander’s’s dividend payout ratio (DPR) is presently 54.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler lowered their target price on Alexander’s from $212.00 to $192.00 and set an “underweight” rating for the company in a report on Monday, October 12th. Weiss Ratings upgraded shares of Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of Alexander’s from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Zacks Research lowered Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $192.00.

About Alexander’s

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust that owns, manages and leases a portfolio of office, retail and residential properties, primarily in the New York metropolitan area. Its properties are generally located in densely populated, high-traffic locations and serve commercial tenants, retailers and residents.

The company’s portfolio includes mixed-use and office properties in Manhattan and surrounding communities. Its best-known asset is 731 Lexington Avenue, a major mixed-use development in Manhattan that includes office space, retail establishments and residential units.