Alexander’s (NYSE:ALX) Hits New 52-Week High at $248.10

Alexander’s, Inc. (NYSE:ALX)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $248.10 and last traded at $247.70, with a volume of 8669 shares trading hands. The stock had previously closed at $243.43.

Analysts Set New Price Targets

Several brokerages have weighed in on ALX. StockNews.com lowered shares of Alexander’s from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler reduced their price target on Alexander’s from $135.00 to $125.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th.

Alexander’s Stock Performance

The firm’s 50-day moving average is $230.18 and its 200 day moving average is $220.71. The company has a debt-to-equity ratio of 5.09, a quick ratio of 12.66 and a current ratio of 12.66. The stock has a market cap of $1.27 billion, a PE ratio of 11.72 and a beta of 0.81.

Alexander’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 12th were issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date was Monday, August 12th. Alexander’s’s dividend payout ratio is presently 86.04%.

Institutional Investors Weigh In On Alexander’s

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Alexander’s by 19.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 351,115 shares of the real estate investment trust’s stock valued at $74,988,000 after purchasing an additional 57,951 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Alexander’s by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 34,745 shares of the real estate investment trust’s stock valued at $7,812,000 after acquiring an additional 413 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of Alexander’s by 51.2% during the 2nd quarter. Denali Advisors LLC now owns 19,500 shares of the real estate investment trust’s stock worth $4,385,000 after purchasing an additional 6,600 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Alexander’s by 16.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 11,583 shares of the real estate investment trust’s stock valued at $2,515,000 after acquiring an additional 1,610 shares during the period. Finally, GraniteShares Advisors LLC raised its position in Alexander’s by 14.3% in the second quarter. GraniteShares Advisors LLC now owns 8,768 shares of the real estate investment trust’s stock valued at $1,972,000 after purchasing an additional 1,096 shares during the period. Hedge funds and other institutional investors own 31.99% of the company’s stock.

About Alexander’s

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).