Alexander’s, Inc. (NYSE:ALX) Announces Quarterly Dividend of $4.50

Alexander’s, Inc. (NYSE:ALX) announced a quarterly dividend on Wednesday, July 29th. Shareholders of record on Monday, August 10th will be paid a dividend of 4.50 per share by the real estate investment trust on Friday, August 28th. This represents a c) annualized dividend and a yield of 6.8%. The ex-dividend date is Monday, August 10th.

Alexander’s Stock Performance

Shares of Alexander’s stock opened at $264.49 on Thursday. The firm has a market capitalization of $1.35 billion, a P/E ratio of 66.12 and a beta of 0.76. 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 has a fifty-two week low of $201.28 and a fifty-two week high of $289.43. The company’s 50 day moving average price is $266.03 and its two-hundred day moving average price is $249.37.

Alexander’s (NYSE:ALX) last announced 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 firm had revenue of $53.41 million during the quarter, compared to analysts’ expectations of $53.40 million. On average, equities analysts forecast that Alexander’s will post 11.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target 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 reiterated a “hold (c)” rating on shares of Alexander’s in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $212.00.

About Alexander’s

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.