Alexander’s (NYSE:ALX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Alexander’s (NYSE:ALX) from a hold rating to a buy rating in a report released on Tuesday morning.

Separately, Piper Sandler decreased their price objective on Alexander’s from $145.00 to $135.00 and set an underweight rating for the company in a report on Monday, July 22nd.

Alexander’s Price Performance

ALX stock opened at $227.33 on Tuesday. The company has a market capitalization of $1.16 billion, a P/E ratio of 10.87 and a beta of 0.81. Alexander’s has a twelve month low of $162.50 and a twelve month high of $244.89. The business has a 50 day simple moving average of $222.97 and a 200-day simple moving average of $219.31. The company has a current ratio of 14.35, a quick ratio of 14.35 and a debt-to-equity ratio of 4.75.

Alexander’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 12th will be paid a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a dividend yield of 7.92%. The ex-dividend date is Monday, August 12th. Alexander’s’s dividend payout ratio (DPR) is presently 86.04%.

Institutional Investors Weigh In On Alexander’s

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position 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 worth $59,582,000 after acquiring an additional 10,513 shares in the last quarter. SG Americas Securities LLC purchased a new position in Alexander’s in the fourth quarter worth $115,000. Asset Management One Co. Ltd. raised its position in Alexander’s by 8.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,331 shares of the real estate investment trust’s stock worth $726,000 after acquiring an additional 250 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Alexander’s by 21.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,525 shares of the real estate investment trust’s stock worth $539,000 after acquiring an additional 450 shares in the last quarter. Finally, GraniteShares Advisors LLC raised its position in Alexander’s by 2.2% in the fourth quarter. GraniteShares Advisors LLC now owns 6,692 shares of the real estate investment trust’s stock worth $1,429,000 after acquiring an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.

About Alexander’s

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