Alexander's (NYSE:ALX) Posts Quarterly Earnings Results, Misses Expectations By $2.87 EPS

Key Points

• Alexander’s reported quarterly EPS of $5.33, missing the $8.20 consensus estimate by $2.87. Revenue was $72.06 million, below analyst expectations of $82.40 million.
• The REIT declared a quarterly dividend of $4.50 per share, or $18.00 annually, representing a 7.1% yield; the dividend is payable November 20 to shareholders of record November 9.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating. The stock carries a consensus Hold rating and a $192 price target, versus an opening price of $252.02.

Alexander's (NYSE:ALX - Get Free Report) issued its earnings results on Monday. The real estate investment trust reported $5.33 earnings per share for the quarter, missing the consensus estimate of $8.20 by ($2.87), FiscalAI reports. Alexander's had a return on equity of 123.09% and a net margin of 79.06%. The business had revenue of $72.06 million for the quarter, compared to analyst estimates of $82.40 million.

Alexander's Stock Up 0.2%

Shares of NYSE:ALX opened at $252.02 on Monday. Alexander's has a 52 week low of $201.28 and a 52 week high of $289.43. The company has a market cap of $1.29 billion, a PE ratio of 7.63 and a beta of 0.80. The company has a debt-to-equity ratio of 3.73, a quick ratio of 16.78 and a current ratio of 16.78. The firm has a 50 day simple moving average of $250.62 and a 200 day simple moving average of $251.59.

Alexander's Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, November 9th will be given a dividend of $4.50 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.1%. Alexander's's payout ratio is 54.46%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ALX shares. Zacks Research cut Alexander's from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 25th. Wall Street Zen upgraded Alexander's from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Piper Sandler lowered their price target on Alexander's from $212.00 to $192.00 and set an "underweight" rating for the company in a research report on Monday, October 12th. Finally, 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. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $192.00.

About Alexander's

Alexander's, Inc NYSE: ALX is a real estate investment trust that owns, manages and leases a portfolio of office, retail and residential properties, primarily in the New York metropolitan area. Its properties are generally located in densely populated, high-traffic locations and serve commercial tenants, retailers and residents.

The company's portfolio includes mixed-use and office properties in Manhattan and surrounding communities. Its best-known asset is 731 Lexington Avenue, a major mixed-use development in Manhattan that includes office space, retail establishments and residential units.

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