ValuEngine downgraded shares of Alexander's (NYSE:ALX) from a buy rating to a hold rating in a report published on Friday, February 2nd.
Shares of Alexander's (NYSE ALX) opened at $357.14 on Friday. The firm has a market capitalization of $1,794.55, a P/E ratio of 21.67 and a beta of 0.61. The company has a quick ratio of 15.74, a current ratio of 15.74 and a debt-to-equity ratio of 3.63. Alexander's has a fifty-two week low of $332.98 and a fifty-two week high of $441.54.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, January 29th will be issued a $4.50 dividend. The ex-dividend date of this dividend is Friday, January 26th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 5.04%. This is a boost from Alexander's’s previous quarterly dividend of $4.25. Alexander's’s dividend payout ratio is currently 109.22%.
A number of large investors have recently made changes to their positions in ALX. Renaissance Technologies LLC grew its holdings in Alexander's by 32.7% during the 2nd quarter. Renaissance Technologies LLC now owns 60,500 shares of the real estate investment trust’s stock valued at $25,498,000 after buying an additional 14,900 shares during the last quarter. BlackRock Inc. grew its holdings in Alexander's by 4.7% during the 4th quarter. BlackRock Inc. now owns 208,072 shares of the real estate investment trust’s stock valued at $82,364,000 after buying an additional 9,254 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Alexander's by 289.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 11,862 shares of the real estate investment trust’s stock valued at $4,999,000 after buying an additional 8,816 shares during the last quarter. Vanguard Group Inc. grew its holdings in Alexander's by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 366,170 shares of the real estate investment trust’s stock valued at $154,326,000 after buying an additional 3,720 shares during the last quarter. Finally, State Street Corp grew its holdings in Alexander's by 6.1% during the 2nd quarter. State Street Corp now owns 54,691 shares of the real estate investment trust’s stock valued at $23,048,000 after buying an additional 3,129 shares during the last quarter. Hedge funds and other institutional investors own 35.76% of the company’s stock.
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Alexander's Company Profile
Alexander’s, Inc is a real estate investment trust (REIT). The Company is engaged in leasing, managing, developing and redeveloping its properties. It is managed by, and its properties are leased and developed by, Vornado Realty Trust (Vornado). As of December 31, 2016, the Company had seven properties in the greater New York City metropolitan area consisting of 731 Lexington Avenue; Rego Park I; Rego Park II; The Alexander apartment tower; Paramus, and Flushing.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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