Alexander’s (NYSE:ALX) Hits New 12-Month High at $251.63

Alexander’s, Inc. (NYSE:ALX)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $251.63 and last traded at $249.20, with a volume of 21851 shares traded. The stock had previously closed at $237.34.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALX. StockNews.com lowered Alexander’s from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Piper Sandler lowered their target price on Alexander’s from $135.00 to $125.00 and set an “underweight” rating for the company in a report on Tuesday, August 6th.

Alexander’s Stock Up 4.5 %

The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 5.09. The firm has a market cap of $1.27 billion, a PE ratio of 11.71 and a beta of 0.81. The business’s 50-day simple moving average is $231.80 and its 200 day simple moving average is $221.89.

Alexander’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.26%. The ex-dividend date of this dividend was Monday, August 12th. Alexander’s’s payout ratio is 86.04%.

Institutional Trading of Alexander’s

A number of hedge funds have recently bought and sold shares of ALX. Lazard Asset Management LLC bought a new position in shares of Alexander’s in the 1st quarter worth $114,000. Allspring Global Investments Holdings LLC bought a new position in Alexander’s in the first quarter worth about $122,000. Daiwa Securities Group Inc. lifted its position in shares of Alexander’s by 7.8% during the first 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 last quarter. Principal Financial Group Inc. purchased a new stake in shares of Alexander’s during the first quarter valued at about $201,000. Finally, BOS Asset Management LLC bought a new stake in shares of Alexander’s in the 1st quarter valued at about $219,000. Hedge funds and other institutional investors own 31.99% of the company’s stock.

Alexander’s Company Profile

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).