The Manufacturers Life Insurance Company Boosts Stock Position in Alexander’s, Inc. (NYSE:ALX)

The Manufacturers Life Insurance Company increased its holdings in shares of Alexander’s, Inc. (NYSE:ALXFree Report) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,290 shares of the real estate investment trust’s stock after buying an additional 86 shares during the period. The Manufacturers Life Insurance Company’s holdings in Alexander’s were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC increased its stake in Alexander’s by 51.2% during the 2nd quarter. Denali Advisors LLC now owns 19,500 shares of the real estate investment trust’s stock worth $4,385,000 after buying an additional 6,600 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Alexander’s in the 4th quarter valued at $459,000. Los Angeles Capital Management LLC raised its stake in 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 last quarter. GraniteShares Advisors LLC lifted its holdings in Alexander’s by 14.3% in the 2nd quarter. GraniteShares Advisors LLC now owns 8,768 shares of the real estate investment trust’s stock valued at $1,972,000 after purchasing an additional 1,096 shares in the last quarter. Finally, BOS Asset Management LLC acquired a new stake in Alexander’s during the 1st quarter worth $219,000. Institutional investors and hedge funds own 31.99% of the company’s stock.

Alexander’s Stock Down 1.3 %

Shares of ALX opened at $230.00 on Friday. Alexander’s, Inc. has a 52-week low of $175.91 and a 52-week high of $251.63. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 5.09. The stock has a fifty day simple moving average of $231.89 and a two-hundred day simple moving average of $223.97. The company has a market capitalization of $1.18 billion, a PE ratio of 10.99 and a beta of 0.82.

Alexander’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.83%. The ex-dividend date of this dividend was Monday, August 12th. Alexander’s’s payout ratio is currently 86.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALX shares. StockNews.com cut shares of Alexander’s from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler decreased their target price on shares of Alexander’s from $135.00 to $125.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 6th.

Read Our Latest Analysis on Alexander’s

Alexander’s Company Profile

(Free Report)

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust (REIT), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to we, us, our, Company and Alexander’s refer to Alexander’s, Inc and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (Vornado) (NYSE: VNO).

Further Reading

Institutional Ownership by Quarter for Alexander's (NYSE:ALX)

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