Alexander’s (NYSE:ALX) Upgraded by Zacks Research to “Strong-Buy” Rating

Alexander’s (NYSE:ALX) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Piper Sandler boosted their target price on shares of Alexander’s from $190.00 to $212.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $212.00.

Alexander’s Stock Up 1.0%

Alexander’s stock opened at $276.62 on Tuesday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 8.37 and a beta of 0.77. Alexander’s has a 52-week low of $201.28 and a 52-week high of $289.43. The company has a debt-to-equity ratio of 3.73, a quick ratio of 6.92 and a current ratio of 16.78. The firm has a 50 day moving average price of $267.82 and a two-hundred day moving average price of $250.64.

Alexander’s (NYSE:ALX) last posted its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.02. Alexander’s had a net margin of 79.06% and a return on equity of 123.09%. The company had revenue of $54.71 million for the quarter, compared to analyst estimates of $54.10 million. Equities analysts predict that Alexander’s will post 16.52 EPS for the current year.

Insider Activity

In related news, Director Russell B. Wight, Jr. sold 423 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total transaction of $112,941.00. Following the transaction, the director directly owned 900 shares of the company’s stock, valued at $240,300. This represents a 31.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Alexander’s

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in shares of Alexander’s by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Van ECK Associates Corp acquired a new position in Alexander’s during the 3rd quarter worth approximately $32,000. Garton & Associates Financial Advisors LLC bought a new position in Alexander’s in the fourth quarter worth approximately $38,000. Larson Financial Group LLC boosted its holdings in Alexander’s by 104.0% in the third quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 104 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Alexander’s by 89.1% in the second quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 98 shares during the period. 31.99% of the stock is owned by institutional investors.

Alexander’s Company Profile

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.