Alexander’s (NYSE:ALX) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Alexander’s (NYSE:ALX) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Alexander’s Trading Down 1.8%

NYSE:ALX traded down $4.21 during trading hours on Tuesday, reaching $232.08. 52,467 shares of the company were exchanged, compared to its average volume of 99,343. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 42.27 and a beta of 0.82. The company has a debt-to-equity ratio of 7.60, a current ratio of 8.36 and a quick ratio of 8.36. The stock has a 50 day simple moving average of $234.95 and a 200 day simple moving average of $229.44. Alexander’s has a 52-week low of $189.05 and a 52-week high of $260.84.

Alexander’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were given a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 7.8%. The ex-dividend date was Tuesday, February 17th. Alexander’s’s dividend payout ratio (DPR) is currently 327.87%.

Institutional Investors Weigh In On Alexander’s

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd increased its stake in Alexander’s by 28.9% during the 4th quarter. Covestor Ltd now owns 241 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 54 shares during the period. Creative Planning raised its holdings in Alexander’s by 4.9% during the third quarter. Creative Planning now owns 1,260 shares of the real estate investment trust’s stock worth $296,000 after purchasing an additional 59 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Alexander’s by 9.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 766 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 69 shares in the last quarter. Rhumbline Advisers boosted its stake in Alexander’s by 2.6% during the second quarter. Rhumbline Advisers now owns 3,784 shares of the real estate investment trust’s stock valued at $853,000 after buying an additional 96 shares in the last quarter. Finally, 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 acquiring an additional 98 shares during the last quarter. 31.99% of the stock is currently 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.