Militia Capital Management LLC Invests $496,000 in Alexander’s, Inc. $ALX

Militia Capital Management LLC bought a new stake in shares of Alexander’s, Inc. (NYSE:ALX) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 2,100 shares of the real estate investment trust’s stock, valued at approximately $496,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Covestor Ltd increased its position in Alexander’s by 28.9% during the fourth quarter. Covestor Ltd now owns 241 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 54 shares during the last quarter. Creative Planning lifted its holdings in shares of Alexander’s by 4.9% in the 3rd quarter. Creative Planning now owns 1,260 shares of the real estate investment trust’s stock worth $296,000 after acquiring an additional 59 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Alexander’s by 9.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 766 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 69 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Alexander’s by 7.9% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 958 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 70 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Alexander’s by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 3,784 shares of the real estate investment trust’s stock worth $853,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 31.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alexander’s Stock Performance

NYSE:ALX opened at $277.07 on Friday. The company has a market cap of $1.42 billion, a P/E ratio of 69.27 and a beta of 0.76. Alexander’s, Inc. has a twelve month low of $201.28 and a twelve month high of $289.43. The company’s 50-day moving average price is $263.55 and its 200-day moving average price is $248.19. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 9.17.

Alexander’s (NYSE:ALX) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($2.17). Alexander’s had a net margin of 9.72% and a return on equity of 17.38%. The company had revenue of $53.41 million during the quarter, compared to analysts’ expectations of $53.40 million. On average, sell-side analysts forecast that Alexander’s, Inc. will post 11.87 earnings per share for the current fiscal year.

Alexander’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were issued a dividend of $4.50 per share. The ex-dividend date was Monday, May 11th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 6.5%. Alexander’s’s dividend payout ratio (DPR) is currently 450.00%.

Insider Activity at Alexander’s

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

Alexander’s Company 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.