StockNews.com Lowers Alexander’s (NYSE:ALX) to Hold

StockNews.com cut shares of Alexander’s (NYSE:ALX) from a buy rating to a hold rating in a research note released on Monday morning.

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

Alexander’s Trading Down 0.2 %

NYSE ALX opened at $237.16 on Monday. The company has a fifty day simple moving average of $219.98 and a two-hundred day simple moving average of $218.44. The stock has a market cap of $1.24 billion, a P/E ratio of 11.34 and a beta of 0.81. Alexander’s has a 12-month low of $162.50 and a 12-month high of $244.51. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 13th were issued a $4.50 dividend. The ex-dividend date was Friday, May 10th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.59%. Alexander’s’s dividend payout ratio is currently 86.04%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Alexander’s by 3.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,265 shares of the real estate investment trust’s stock worth $709,000 after purchasing an additional 95 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Alexander’s during the first quarter worth $114,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Alexander’s by 7.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,119 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 73 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of Alexander’s by 14.3% during the first quarter. Inspire Investing LLC now owns 2,012 shares of the real estate investment trust’s stock worth $437,000 after purchasing an additional 251 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Alexander’s by 15.6% during the first quarter. Sei Investments Co. now owns 1,944 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 262 shares during 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.