Alexander’s (NYSE:ALX) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Alexander’s (NYSE:ALXGet Rating) from a sell rating to a hold rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Alexander’s, Inc. is a real estate investment trust engaged in leasing, managing, developing and redeveloping properties. Alexander’s activities are conducted through its manager, Vornado Realty Trust. “

Separately, StockNews.com initiated coverage on Alexander’s in a research report on Thursday, March 31st. They issued a buy rating on the stock.

Shares of NYSE:ALX opened at $257.57 on Friday. The firm’s 50 day moving average is $255.17 and its two-hundred day moving average is $262.64. The firm has a market capitalization of $1.32 billion, a P/E ratio of 9.93 and a beta of 0.59. The company has a current ratio of 14.00, a quick ratio of 14.00 and a debt-to-equity ratio of 4.31. Alexander’s has a 52 week low of $246.15 and a 52 week high of $299.99.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 11th. Shareholders of record on Monday, January 31st were given a dividend of $4.50 per share. The ex-dividend date was Friday, January 28th. This represents a $18.00 dividend on an annualized basis and a yield of 6.99%. Alexander’s’s dividend payout ratio (DPR) is presently 69.42%.

A number of hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in Alexander’s during the 4th quarter worth $4,478,000. Barclays PLC lifted its holdings in shares of Alexander’s by 110.1% in the fourth quarter. Barclays PLC now owns 2,597 shares of the real estate investment trust’s stock valued at $676,000 after buying an additional 1,361 shares during the period. BlackRock Inc. lifted its holdings in shares of Alexander’s by 0.4% in the fourth quarter. BlackRock Inc. now owns 150,798 shares of the real estate investment trust’s stock valued at $39,253,000 after buying an additional 565 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Alexander’s by 6.1% in the fourth quarter. Wells Fargo & Company MN now owns 2,135 shares of the real estate investment trust’s stock valued at $555,000 after buying an additional 122 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Alexander’s by 8.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 277,676 shares of the real estate investment trust’s stock valued at $72,279,000 after buying an additional 21,728 shares during the period. Institutional investors own 34.41% of the company’s stock.

About Alexander’s (Get Rating)

Alexander's, Inc is a real estate investment trust which has seven properties in the greater New York City metropolitan area.

Featured Stories

Get a free copy of the Zacks research report on Alexander’s (ALX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Alexander's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alexander's and related companies with MarketBeat.com's FREE daily email newsletter.