Alexander’s (NYSE:ALX) Stock Price Down 16.4% After Earnings Miss

Alexander’s, Inc. (NYSE:ALX)’s share price traded down 16.4% during trading on Monday following a dissappointing earnings announcement. The stock traded as low as $212.38 and last traded at $213.1950. 40,119 shares were traded during mid-day trading, a decline of 55% from the average session volume of 89,063 shares. The stock had previously closed at $255.07.

The real estate investment trust reported $0.75 earnings per share for the quarter, missing the consensus estimate of $3.02 by ($2.27). Alexander’s had a return on equity of 23.91% and a net margin of 16.99%.The business had revenue of $53.26 million for the quarter, compared to the consensus estimate of $53.40 million.

Alexander’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $4.50 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $18.00 annualized dividend and a yield of 7.9%. Alexander’s’s payout ratio is presently 252.10%.

Wall Street Analyst Weigh In

ALX has been the topic of several research reports. Zacks Research raised shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALX. Goldman Sachs Group Inc. boosted its position in Alexander’s by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust’s stock worth $74,284,000 after buying an additional 12,060 shares during the period. M&T Bank Corp acquired a new position in Alexander’s in the 4th quarter valued at approximately $60,372,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Alexander’s by 5.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,391 shares of the real estate investment trust’s stock valued at $15,860,000 after acquiring an additional 3,892 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Alexander’s by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 57,402 shares of the real estate investment trust’s stock valued at $12,512,000 after acquiring an additional 234 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Alexander’s by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 33,201 shares of the real estate investment trust’s stock worth $7,785,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 31.99% of the company’s stock.

Alexander’s Trading Down 11.0%

The company has a debt-to-equity ratio of 7.69, a current ratio of 10.36 and a quick ratio of 10.36. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 31.80 and a beta of 0.81. The business’s fifty day moving average price is $228.21 and its 200 day moving average price is $229.20.

Alexander’s Company Profile

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.