Marnell Management LLC Buys Shares of 12,040 Alexander’s, Inc. $ALX

Marnell Management LLC bought a new stake in shares of Alexander’s, Inc. (NYSE:ALX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,040 shares of the real estate investment trust’s stock, valued at approximately $2,624,000. Alexander’s accounts for 1.3% of Marnell Management LLC’s portfolio, making the stock its 21st largest holding. Marnell Management LLC owned approximately 0.24% of Alexander’s as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake 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 acquiring an additional 100 shares during the period. Van ECK Associates Corp bought a new position in Alexander’s during the 3rd quarter valued at about $32,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $47,000 after acquiring an additional 98 shares during the period. Larson Financial Group LLC lifted its stake in Alexander’s by 104.0% during the 3rd quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 104 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in Alexander’s during the 4th quarter valued at about $48,000. Institutional investors own 31.99% of the company’s stock.

Analyst Upgrades and Downgrades

ALX has been the topic of several research analyst reports. Zacks Research cut shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Insider Transactions at Alexander’s

In related news, Director Russell B. Wight, Jr. sold 423 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total value of $112,941.00. Following the completion of the sale, the director directly owned 900 shares of the company’s stock, valued at approximately $240,300. This represents a 31.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 26.36% of the company’s stock.

Alexander’s Price Performance

Shares of NYSE:ALX opened at $261.77 on Monday. The firm’s 50 day moving average price is $246.56 and its 200-day moving average price is $236.63. Alexander’s, Inc. has a twelve month low of $201.28 and a twelve month high of $271.02. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 9.17. The stock has a market capitalization of $1.34 billion, a PE ratio of 65.44 and a beta of 0.78.

Alexander’s (NYSE:ALX) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($2.17). Alexander’s had a return on equity of 17.38% and a net margin of 9.72%.The business had revenue of $53.41 million during the quarter, compared to the consensus estimate of $53.40 million. Equities research analysts expect that Alexander’s, Inc. will post 12.08 EPS for the current year.

Alexander’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 11th were issued a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Monday, May 11th. Alexander’s’s dividend payout ratio is currently 450.00%.

Alexander’s Profile

Alexander’s (NYSE: ALX) is a publicly traded real estate investment trust focused on owning, leasing and managing commercial properties in the New York metropolitan area. The company’s portfolio encompasses office buildings, retail storefronts and parking facilities, all held on a wholly owned basis. By concentrating on prime urban and suburban locations, Alexander’s seeks to generate stable rental income and long-term asset appreciation.

Founded in 1928 as a family-run department store chain, Alexander’s transitioned during the early 1990s into a pure-play real estate company following the sale of its retail operations.