Alexander’s (NYSE:ALX) Releases Earnings Results, Misses Estimates By $2.87 EPS

Alexander’s (NYSE:ALX) announced its earnings results on Monday. The real estate investment trust reported $5.33 earnings per share for the quarter, missing analysts’ consensus estimates of $8.20 by ($2.87), FiscalAI reports. The business had revenue of $72.06 million during the quarter, compared to analyst estimates of $82.40 million. Alexander’s had a net margin of 79.06% and a return on equity of 123.09%.

Alexander’s Stock Performance

Alexander’s stock opened at $252.02 on Monday. The firm has a market cap of $1.29 billion, a P/E ratio of 7.63 and a beta of 0.80. The firm has a 50-day moving average of $250.62 and a 200-day moving average of $251.59. Alexander’s has a 1-year low of $201.28 and a 1-year high of $289.43. The company has a current ratio of 16.78, a quick ratio of 16.78 and a debt-to-equity ratio of 3.73.

Alexander’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, November 9th will be issued a $4.50 dividend. The ex-dividend date is Monday, November 9th. This represents a $18.00 annualized dividend and a dividend yield of 7.1%. Alexander’s’s payout ratio is currently 54.46%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Wall Street Zen upgraded shares of Alexander’s from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler reduced their price objective on shares of Alexander’s from $212.00 to $192.00 and set an “underweight” rating on the stock in a research note on Monday, October 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $192.00.

Alexander’s Company Profile

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust that owns, manages and leases a portfolio of office, retail and residential properties, primarily in the New York metropolitan area. Its properties are generally located in densely populated, high-traffic locations and serve commercial tenants, retailers and residents.

The company’s portfolio includes mixed-use and office properties in Manhattan and surrounding communities. Its best-known asset is 731 Lexington Avenue, a major mixed-use development in Manhattan that includes office space, retail establishments and residential units.