Public Employees Retirement System of Ohio Makes New Investment in Alexander’s, Inc. $ALX

Public Employees Retirement System of Ohio bought a new stake in Alexander’s, Inc. (NYSE:ALX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,439 shares of the real estate investment trust’s stock, valued at approximately $672,000.

A number of other large investors also recently made changes to their positions in ALX. Goldman Sachs Group Inc. grew its position in Alexander’s by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust’s stock worth $74,284,000 after purchasing an additional 12,060 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Alexander’s by 48.3% in the 1st quarter. Jane Street Group LLC now owns 4,996 shares of the real estate investment trust’s stock worth $1,045,000 after buying an additional 1,628 shares during the last quarter. Strs Ohio bought a new position in shares of Alexander’s in the first quarter valued at approximately $84,000. Creative Planning increased its position in shares of Alexander’s by 17.3% during the second quarter. Creative Planning now owns 1,201 shares of the real estate investment trust’s stock valued at $271,000 after acquiring an additional 177 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Alexander’s by 11.4% in the second quarter. Legal & General Group Plc now owns 2,975 shares of the real estate investment trust’s stock worth $670,000 after purchasing an additional 305 shares during the last quarter. 31.99% of the stock is owned by institutional investors.

Alexander’s Price Performance

ALX opened at $257.22 on Thursday. The firm has a 50-day moving average price of $271.05 and a 200-day moving average price of $255.59. Alexander’s, Inc. has a twelve month low of $201.28 and a twelve month high of $289.43. The company has a quick ratio of 16.78, a current ratio of 16.78 and a debt-to-equity ratio of 3.73. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 7.78 and a beta of 0.78.

Alexander’s (NYSE:ALX) last released its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $3.02 EPS for the quarter, topping the consensus estimate of $3.00 by $0.02. Alexander’s had a net margin of 79.06% and a return on equity of 123.09%. The company had revenue of $54.71 million during the quarter, compared to the consensus estimate of $54.10 million. Equities analysts expect that Alexander’s, Inc. will post 16.52 EPS for the current year.

Alexander’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were given a $4.50 dividend. The ex-dividend date was Monday, August 10th. This represents a $18.00 annualized dividend and a dividend yield of 7.0%. Alexander’s’s payout ratio is 54.46%.

Analyst Upgrades and Downgrades

ALX has been the subject of several research analyst reports. Wall Street Zen raised Alexander’s from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research raised shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Finally, Piper Sandler lifted their price target on shares of Alexander’s from $190.00 to $212.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Alexander’s currently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

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.