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

StockNews.com downgraded shares of Alexander’s (NYSE:ALX) from a buy rating to a hold rating in a report released on Saturday.

Separately, Piper Sandler reduced their price objective on Alexander’s from $160.00 to $145.00 and set an underweight rating for the company in a research report on Monday, May 13th.

Alexander’s Trading Down 0.5 %

Shares of NYSE:ALX opened at $218.17 on Friday. The firm has a fifty day moving average of $214.54 and a two-hundred day moving average of $215.28. The company has a quick ratio of 14.35, a current ratio of 14.35 and a debt-to-equity ratio of 4.75. Alexander’s has a 12-month low of $162.50 and a 12-month high of $237.18. The firm has a market capitalization of $1.11 billion, a P/E ratio of 10.43 and a beta of 0.79.

Alexander’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 13th were given a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 8.25%. The ex-dividend date of this dividend was Friday, May 10th. Alexander’s’s dividend payout ratio is 86.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Daiwa Securities Group Inc. increased its position in 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 worth $151,000 after buying an additional 50 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Alexander’s by 7.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,119 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 73 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Alexander’s by 119.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 138 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 75 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Alexander’s by 3.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,390 shares of the real estate investment trust’s stock worth $510,000 after purchasing an additional 80 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Alexander’s by 3.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,265 shares of the real estate investment trust’s stock worth $709,000 after purchasing an additional 95 shares during the period. Institutional investors own 31.99% of the company’s stock.

About Alexander’s

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