Zacks Research Upgrades Alexander’s (NYSE:ALX) to “Strong-Buy”

Alexander’s (NYSE:ALX) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy”.

Alexander’s Trading Down 1.7%

NYSE:ALX opened at $228.87 on Wednesday. Alexander’s has a 12 month low of $184.76 and a 12 month high of $260.84. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 6.79. The firm’s 50 day moving average is $234.00 and its 200 day moving average is $228.78. The stock has a market capitalization of $1.17 billion, a PE ratio of 31.44 and a beta of 0.86.

Alexander’s (NYSE:ALX) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.41. The business had revenue of $53.42 million during the quarter, compared to the consensus estimate of $51.60 million. Alexander’s had a return on equity of 22.12% and a net margin of 17.14%. Sell-side analysts expect that Alexander’s will post 11.5 earnings per share for the current year.

Institutional Trading of Alexander’s

A number of institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in Alexander’s by 625.0% during the 2nd 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. Cullen Frost Bankers Inc. grew its stake in Alexander’s by 177.8% during the second quarter. Cullen Frost Bankers Inc. now owns 200 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 128 shares in the last quarter. 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 worth $47,000 after acquiring an additional 98 shares during the period. Signaturefd LLC lifted its stake in Alexander’s by 37.1% in the 2nd quarter. Signaturefd LLC now owns 270 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 73 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Alexander’s during the 1st quarter valued at $84,000. 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).