Alexander’s (NYSE:ALX) Upgraded at Zacks Research

Zacks Research upgraded shares of Alexander’s (NYSE:ALX) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Alexander’s Stock Performance

ALX opened at $253.57 on Monday. Alexander’s has a twelve month low of $189.05 and a twelve month high of $260.84. The firm has a market capitalization of $1.30 billion, a PE ratio of 35.51 and a beta of 0.82. The company has a current ratio of 10.36, a quick ratio of 10.36 and a debt-to-equity ratio of 7.69. The firm’s 50-day moving average price is $226.14 and its 200 day moving average price is $229.53.

Alexander’s (NYSE:ALX) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.41. The business had revenue of $53.42 million for the quarter, compared to analyst estimates of $51.60 million. Alexander’s had a net margin of 16.99% and a return on equity of 23.91%. As a group, sell-side analysts expect that Alexander’s will post 11.5 EPS for the current fiscal year.

Institutional Trading of Alexander’s

A number of hedge funds and other institutional investors have recently modified their holdings of ALX. Voss Capital LP raised its position in Alexander’s by 46.9% in the second quarter. Voss Capital LP now owns 25,290 shares of the real estate investment trust’s stock valued at $5,698,000 after purchasing an additional 8,080 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Alexander’s in the 2nd quarter valued at $223,000. Beverly Hills Private Wealth LLC lifted its stake in Alexander’s by 170.7% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 17,954 shares of the real estate investment trust’s stock worth $4,045,000 after acquiring an additional 11,322 shares in the last quarter. Bessemer Group Inc. purchased a new position in Alexander’s during the 2nd quarter valued at about $650,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Alexander’s in the 2nd quarter valued at about $685,000. 31.99% of the stock is owned by institutional investors and hedge funds.

About Alexander’s

Alexander’s (NYSE: ALX) is a publicly traded real estate investment trust focused on owning, leasing and managing commercial properties in the New York metropolitan area. The company’s portfolio encompasses office buildings, retail storefronts and parking facilities, all held on a wholly owned basis. By concentrating on prime urban and suburban locations, Alexander’s seeks to generate stable rental income and long-term asset appreciation.

Founded in 1928 as a family-run department store chain, Alexander’s transitioned during the early 1990s into a pure-play real estate company following the sale of its retail operations.