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

Posted by Amy Steele on Aug 10th, 2024

StockNews.com downgraded shares of Alexander’s (NYSE:ALX – Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Separately, Piper Sandler cut their price target on shares of Alexander’s from $135.00 to $125.00 and set an underweight rating for the company in a report on Tuesday.

View Our Latest Report on Alexander’s

Alexander’s Stock Performance

Shares of ALX traded down $1.06 during trading hours on Wednesday, hitting $219.49. The stock had a trading volume of 12,915 shares, compared to its average volume of 10,575. The company has a debt-to-equity ratio of 4.75, a quick ratio of 14.35 and a current ratio of 14.35. The firm has a 50-day moving average price of $223.78 and a 200 day moving average price of $219.17. Alexander’s has a fifty-two week low of $162.50 and a fifty-two week high of $244.89. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.49 and a beta of 0.81.

Alexander’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be issued a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 8.20%. The ex-dividend date of this dividend is Monday, August 12th. Alexander’s’s payout ratio is presently 86.04%.

Institutional Investors Weigh In On Alexander’s

A number of large investors have recently modified their holdings of ALX. SG Americas Securities LLC acquired a new position in shares of Alexander’s during the 4th quarter valued at about $115,000. Asset Management One Co. Ltd. increased its holdings 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 valued at $726,000 after buying an additional 250 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake 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 valued at $539,000 after buying an additional 450 shares in the last quarter. GraniteShares Advisors LLC lifted its holdings in Alexander’s by 2.2% during the 4th quarter. GraniteShares Advisors LLC now owns 6,692 shares of the real estate investment trust’s stock worth $1,429,000 after buying an additional 142 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Alexander’s by 8.7% during the 4th quarter. New York State Common Retirement Fund now owns 6,218 shares of the real estate investment trust’s stock worth $1,328,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.