Alexander’s (NYSE:ALX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Alexander’s (NYSE:ALX) from a hold rating to a buy rating in a report released on Tuesday morning.

Separately, Piper Sandler lowered their target price on shares of Alexander’s from $145.00 to $135.00 and set an underweight rating on the stock in a report on Monday, July 22nd.

Alexander’s Price Performance

ALX stock opened at $227.33 on Tuesday. The stock has a market capitalization of $1.16 billion, a PE ratio of 10.87 and a beta of 0.81. The company’s 50-day moving average is $222.97 and its 200-day moving average is $219.31. The company has a debt-to-equity ratio of 4.75, a current ratio of 14.35 and a quick ratio of 14.35. Alexander’s has a 1 year low of $162.50 and a 1 year high of $244.89.

Alexander’s Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, August 12th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.92%. Alexander’s’s dividend payout ratio is presently 86.04%.

Institutional Investors Weigh In On Alexander’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in Alexander’s in the 1st quarter valued at about $114,000. SG Americas Securities LLC purchased a new stake in shares of Alexander’s during the 4th quarter worth approximately $115,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alexander’s during the 1st quarter worth approximately $122,000. Daiwa Securities Group Inc. increased its stake in shares of Alexander’s by 7.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 695 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 50 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Alexander’s during the 1st quarter worth approximately $201,000. Hedge funds and other institutional investors own 31.99% of the company’s stock.

Alexander’s Company Profile

Alexander's, Inc is a real estate investment trust which has five properties in New York City.