Alexander’s, Inc. $ALX Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in Alexander’s, Inc. (NYSE:ALX) by 22.0% during the first quarter, Holdings Channel reports. The institutional investor owned 25,520 shares of the real estate investment trust’s stock after selling 7,206 shares during the quarter. Renaissance Technologies LLC’s holdings in Alexander’s were worth $6,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in shares of Alexander’s by 227.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,456 shares of the real estate investment trust’s stock valued at $580,000 after purchasing an additional 1,707 shares in the last quarter. Militia Capital Management LLC acquired a new position in Alexander’s during the first quarter worth $496,000. First Trust Advisors LP lifted its holdings in Alexander’s by 29.4% during the first quarter. First Trust Advisors LP now owns 5,952 shares of the real estate investment trust’s stock valued at $1,406,000 after purchasing an additional 1,351 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alexander’s by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 34,444 shares of the real estate investment trust’s stock valued at $8,136,000 after purchasing an additional 724 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Alexander’s by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 15,869 shares of the real estate investment trust’s stock valued at $3,748,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 31.99% of the company’s stock.

Insiders Place Their Bets

In other Alexander’s news, Director Russell B. Wight, Jr. sold 423 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total transaction of $112,941.00. Following the sale, the director owned 900 shares of the company’s stock, valued at approximately $240,300. This trade represents a 31.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on ALX. Piper Sandler boosted their price objective on Alexander’s from $190.00 to $212.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $212.00.

Alexander’s Stock Performance

NYSE:ALX opened at $273.34 on Wednesday. The company has a fifty day simple moving average of $267.27 and a two-hundred day simple moving average of $250.35. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 9.17. Alexander’s, Inc. has a 52 week low of $201.28 and a 52 week high of $289.43. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 68.33 and a beta of 0.77.

Alexander’s (NYSE:ALX) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.02. Alexander’s had a return on equity of 155.22% and a net margin of 79.06%.The company had revenue of $54.71 million for the quarter, compared to analyst estimates of $54.10 million. As a group, equities analysts anticipate that Alexander’s, Inc. will post 11.87 earnings per share for the current fiscal year.

Alexander’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 10th will be paid a $4.50 dividend. The ex-dividend date is Monday, August 10th. This represents a $18.00 dividend on an annualized basis and a yield of 6.6%. Alexander’s’s dividend payout ratio (DPR) 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.