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

StockNews.com upgraded shares of Alexander’s (NYSE:ALXFree Report) from a hold rating to a buy rating in a research note released on Thursday morning.

Separately, Piper Sandler lowered their price target on shares of Alexander’s from $160.00 to $145.00 and set an underweight rating on the stock in a report on Monday, May 13th.

Check Out Our Latest Research Report on Alexander’s

Alexander’s Price Performance

Shares of ALX stock opened at $213.48 on Thursday. The stock’s 50-day moving average is $215.16 and its 200 day moving average is $212.49. Alexander’s has a 1-year low of $162.50 and a 1-year high of $237.18. The company has a debt-to-equity ratio of 4.75, a current ratio of 14.35 and a quick ratio of 14.35. The company has a market cap of $1.09 billion, a P/E ratio of 10.20 and a beta of 0.79.

Alexander’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 13th were issued a dividend of $4.50 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $18.00 annualized dividend and a dividend yield of 8.43%. Alexander’s’s dividend payout ratio (DPR) is presently 86.04%.

Institutional Investors Weigh In On Alexander’s

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its stake in shares of Alexander’s by 19.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 351,115 shares of the real estate investment trust’s stock worth $74,988,000 after buying an additional 57,951 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Alexander’s by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 326,963 shares of the real estate investment trust’s stock worth $59,582,000 after purchasing an additional 10,513 shares during the period. Denali Advisors LLC increased its holdings in shares of Alexander’s by 19.4% during the 1st quarter. Denali Advisors LLC now owns 12,900 shares of the real estate investment trust’s stock valued at $2,801,000 after purchasing an additional 2,100 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Alexander’s by 16.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 11,583 shares of the real estate investment trust’s stock valued at $2,515,000 after purchasing an additional 1,610 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in Alexander’s by 2.1% during the third quarter. Mutual of America Capital Management LLC now owns 7,726 shares of the real estate investment trust’s stock worth $1,408,000 after buying an additional 158 shares in the last quarter. 31.99% of the stock is owned by hedge funds and other institutional investors.

Alexander’s Company Profile

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

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