Alexander’s (NYSE:ALX) Lowered to “Hold” at StockNews.com

Alexander’s (NYSE:ALX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Separately, Piper Sandler dropped their price objective on shares of Alexander’s from $160.00 to $145.00 and set an “underweight” rating on the stock in a research note on Monday, May 13th.

Alexander’s Stock Performance

Shares of ALX opened at $221.55 on Wednesday. The company’s 50 day simple moving average is $215.84 and its 200-day simple moving average is $216.39. Alexander’s has a 12-month low of $162.50 and a 12-month high of $237.18. The firm has a market cap of $1.13 billion, a PE ratio of 10.59 and a beta of 0.81. The company has a current ratio of 14.35, a quick ratio of 14.35 and a debt-to-equity ratio of 4.75.

Institutional Investors Weigh In On Alexander’s

Large investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its stake in Alexander’s by 7.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 695 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 50 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Alexander’s by 7.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,119 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 73 shares during the period. PNC Financial Services Group Inc. raised its holdings in Alexander’s by 119.0% during the third quarter. PNC Financial Services Group Inc. now owns 138 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 75 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Alexander’s by 3.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,390 shares of the real estate investment trust’s stock valued at $510,000 after purchasing an additional 80 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Alexander’s by 3.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,265 shares of the real estate investment trust’s stock valued at $709,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.

Alexander’s Company Profile

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