Alexander’s (NYSE:ALX) Releases Earnings Results, Misses Expectations By $2.27 EPS

Alexander’s (NYSE:ALX) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $3.02 by ($2.27), FiscalAI reports. The business had revenue of $53.26 million for the quarter, compared to analyst estimates of $53.40 million. Alexander’s had a return on equity of 23.91% and a net margin of 16.99%.

Alexander’s Stock Performance

Shares of ALX opened at $256.79 on Monday. Alexander’s has a 12-month low of $189.05 and a 12-month high of $260.84. The stock has a market cap of $1.31 billion, a P/E ratio of 35.96 and a beta of 0.81. The company has a current ratio of 10.36, a quick ratio of 10.36 and a debt-to-equity ratio of 7.69. The company has a 50-day moving average of $227.93 and a two-hundred day moving average of $229.43.

Alexander’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.0%. The ex-dividend date is Tuesday, February 17th. Alexander’s’s dividend payout ratio (DPR) is 252.10%.

Analyst Upgrades and Downgrades

ALX has been the topic of a number of research analyst reports. Zacks Research raised shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy”.

Hedge Funds Weigh In On Alexander’s

A number of institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Alexander’s by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Van ECK Associates Corp purchased a new position in Alexander’s in the 3rd quarter valued at about $32,000. Tower Research Capital LLC TRC lifted its holdings in Alexander’s by 89.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 98 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Alexander’s by 104.0% during the 3rd quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 104 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Alexander’s by 393.8% during the third quarter. Russell Investments Group Ltd. now owns 237 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 189 shares in the last quarter. 31.99% of the stock is owned by institutional investors and hedge funds.

About Alexander’s

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.