Alexander's, Inc. (NYSE:ALX) to Issue $4.50 Quarterly Dividend

Key Points

• Alexander’s declared a quarterly dividend of $4.50 per share, payable August 28 to shareholders of record as of August 10. The dividend implies an annualized yield of approximately 6.8%.
• The REIT’s latest quarterly earnings came in at $0.91 per share, well below the $3.08 analyst consensus, while revenue of $53.41 million was broadly in line with expectations.
• Analyst sentiment remains cautious: two analysts rate the stock Hold and one rates it Sell, resulting in a consensus “Reduce” rating and a $212 price target versus the reported opening price of $264.49.

Alexander's, Inc. (NYSE:ALX - Get Free Report) declared 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) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Monday, August 10th.

Alexander's Price Performance

Shares of ALX opened at $264.49 on Thursday. Alexander's has a 12 month low of $201.28 and a 12 month high of $289.43. The company has a debt-to-equity ratio of 9.17, a current ratio of 6.92 and a quick ratio of 6.92. The stock has a fifty day moving average price of $266.03 and a 200 day moving average price of $249.37. The company has a market cap of $1.35 billion, a P/E ratio of 66.12 and a beta of 0.76.

Alexander's (NYSE:ALX - Get Free Report) last posted its 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 the consensus estimate of $53.40 million. On average, research analysts forecast that Alexander's will post 11.87 earnings per share for the current year.

Wall Street Analyst Weigh In

ALX has been the topic of several analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Alexander's in a research report on Friday, July 17th. Piper Sandler upped their price target on shares of Alexander's from $190.00 to $212.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus 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.

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