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

Alexander’s (NYSE:ALX) issued its earnings results 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. Alexander’s had a return on equity of 23.91% and a net margin of 16.99%.The company had revenue of $53.26 million for the quarter, compared to the consensus estimate of $53.40 million.

Alexander’s Price Performance

ALX stock opened at $227.08 on Tuesday. Alexander’s has a 1 year low of $189.05 and a 1 year high of $260.84. The firm has a market capitalization of $1.16 billion, a PE ratio of 31.80 and a beta of 0.81. The business has a 50 day simple moving average of $228.21 and a 200-day simple moving average of $229.20. The company has a debt-to-equity ratio of 7.69, a current ratio of 10.36 and a quick ratio of 10.36.

Alexander’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be paid a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Tuesday, February 17th. Alexander’s’s dividend payout ratio is currently 252.10%.

Hedge Funds Weigh In On Alexander’s

A number of hedge funds have recently modified their holdings of ALX. Brevan Howard Capital Management LP acquired a new stake in Alexander’s in the third quarter valued at $292,000. Algert Global LLC grew its position in Alexander’s by 17.8% during the third quarter. Algert Global LLC now owns 1,256 shares of the real estate investment trust’s stock valued at $295,000 after acquiring an additional 190 shares during the period. Quantbot Technologies LP purchased a new position in Alexander’s in the third quarter valued at about $136,000. Intech Investment Management LLC grew its holdings in Alexander’s by 14.2% during the 3rd quarter. Intech Investment Management LLC now owns 1,038 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 129 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Alexander’s during the 2nd quarter valued at approximately $209,000. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded Alexander’s from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.