Alexander’s (NYSE:ALX) Cut to “Hold” at Zacks Research

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

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Alexander’s Price Performance

Shares of ALX opened at $232.48 on Tuesday. The company has a debt-to-equity ratio of 7.60, a quick ratio of 8.36 and a current ratio of 8.36. Alexander’s has a fifty-two week low of $189.05 and a fifty-two week high of $260.84. The firm has a 50-day simple moving average of $235.23 and a 200-day simple moving average of $229.46. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 42.35 and a beta of 0.82.

Alexander’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were paid a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Tuesday, February 17th. Alexander’s’s dividend payout ratio (DPR) is presently 327.87%.

Institutional Trading of Alexander’s

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Alexander’s by 625.0% in the second quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Alexander’s in the 3rd quarter valued at about $32,000. Garton & Associates Financial Advisors LLC purchased a new position in Alexander’s during the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC increased its holdings in Alexander’s by 89.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 98 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Alexander’s by 104.0% during the third quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 104 shares during the last quarter. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

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.