20,415 Shares in Alexander’s, Inc. $ALX Bought by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. purchased a new stake in Alexander’s, Inc. (NYSE:ALX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,415 shares of the real estate investment trust’s stock, valued at approximately $4,822,000. Punch & Associates Investment Management Inc. owned about 0.40% of Alexander’s at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Alexander’s by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Alexander’s during the third quarter valued at about $32,000. Garton & Associates Financial Advisors LLC purchased a new position in Alexander’s during the fourth quarter worth about $38,000. Larson Financial Group LLC boosted its holdings in Alexander’s by 104.0% during the third quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 104 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Alexander’s by 89.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 98 shares in the last quarter. 31.99% of the stock is currently owned by institutional investors.

Alexander’s Trading Down 0.6%

Shares of Alexander’s stock opened at $276.08 on Friday. Alexander’s, Inc. has a 1 year low of $201.28 and a 1 year high of $289.43. The firm has a market cap of $1.41 billion, a PE ratio of 69.02 and a beta of 0.76. The stock has a fifty day moving average price of $264.48 and a 200-day moving average price of $248.39. The company has a debt-to-equity ratio of 9.17, a current ratio of 6.92 and a quick ratio of 6.92.

Alexander’s (NYSE:ALX) last released its earnings results on Monday, May 4th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($2.17). The business had revenue of $53.41 million for the quarter, compared to the consensus estimate of $53.40 million. Alexander’s had a return on equity of 17.38% and a net margin of 9.72%. Equities research analysts anticipate that Alexander’s, Inc. will post 11.87 EPS for the current year.

Alexander’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 11th were given a $4.50 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $18.00 annualized dividend and a yield of 6.5%. Alexander’s’s payout ratio is currently 450.00%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Alexander’s news, Director Russell B. Wight, Jr. sold 423 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were 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 $240,300. The trade was a 31.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 26.36% of the stock is currently owned by insiders.

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.