Alexander's (NYSE:ALX) Announces Quarterly Earnings Results

Key Points

• Alexander's reported a quarterly EPS of $2.88, falling short of expectations by $0.20, with a net margin of 18.03%.
• The company announced a quarterly dividend of $4.50 per share, reflecting an annualized yield of 7.7%.
• Hedge funds like Goldman Sachs and Jane Street Group have increased their positions in Alexander's, indicating growing interest from institutional investors.

Alexander's (NYSE:ALX - Get Free Report) released its earnings results on Monday. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.20), Zacks reports. Alexander's had a net margin of 18.03% and a return on equity of 21.34%.

Alexander's Price Performance

Alexander's stock traded down $10.30 during trading hours on Monday, hitting $234.95. 24,183 shares of the company traded hands, compared to its average volume of 30,935. Alexander's has a 1-year low of $184.76 and a 1-year high of $260.84. The firm has a market cap of $1.20 billion, a P/E ratio of 30.43 and a beta of 0.85. The firm's 50-day simple moving average is $233.91 and its two-hundred day simple moving average is $215.74. The company has a quick ratio of 11.19, a current ratio of 11.19 and a debt-to-equity ratio of 6.06.

Alexander's Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be paid a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $18.00 annualized dividend and a yield of 7.7%. Alexander's's dividend payout ratio (DPR) is presently 233.16%.

Hedge Funds Weigh In On Alexander's

Several hedge funds have recently modified their holdings of ALX. Goldman Sachs Group Inc. increased its position in shares of Alexander's by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust's stock valued at $74,284,000 after purchasing an additional 12,060 shares during the period. Jane Street Group LLC increased its position in shares of Alexander's by 48.3% during the 1st quarter. Jane Street Group LLC now owns 4,996 shares of the real estate investment trust's stock valued at $1,045,000 after purchasing an additional 1,628 shares during the period. Finally, Strs Ohio acquired a new position in shares of Alexander's during the 1st quarter valued at $84,000. 31.99% of the stock is currently owned by institutional investors and hedge funds.

About Alexander's

Alexander's, Inc NYSE: ALX is a real estate investment trust (REIT), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to we, us, our, Company and Alexander's refer to Alexander's, Inc and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (Vornado) NYSE: VNO.

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