Alexander's (NYSE:ALX) Releases Quarterly Earnings Results, Misses Estimates By $0.20 EPS

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 quarterly earnings data on Monday. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts' consensus estimates of $3.08 by ($0.20), Zacks reports. The company had revenue of $51.59 million for the quarter, compared to analyst estimates of $51.90 million. Alexander's had a net margin of 17.14% and a return on equity of 22.12%.

Alexander's Price Performance

NYSE ALX traded down $1.27 during trading on Friday, reaching $223.73. 43,552 shares of the company traded hands, compared to its average volume of 54,105. The company has a debt-to-equity ratio of 6.79, a quick ratio of 11.19 and a current ratio of 9.78. The stock's 50 day moving average price is $234.16 and its two-hundred day moving average price is $216.44. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 30.73 and a beta of 0.85. Alexander's has a 1-year low of $184.76 and a 1-year high of $260.84.

Alexander's Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be issued a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Monday, August 11th. Alexander's's payout ratio is presently 247.25%.

Institutional Investors Weigh In On Alexander's

A number of institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of 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 acquiring an additional 12,060 shares in the last quarter. Jane Street Group LLC boosted its holdings 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 acquiring an additional 1,628 shares in the last quarter. Strs Ohio acquired a new position in shares of Alexander's in the 1st quarter worth approximately $84,000. Finally, Creative Planning boosted its holdings in shares of Alexander's by 17.3% in the 2nd quarter. Creative Planning now owns 1,201 shares of the real estate investment trust's stock worth $271,000 after acquiring an additional 177 shares in the last quarter. 31.99% of the stock is owned by institutional investors and hedge funds.

Alexander's Company Profile

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.