277,014 Shares in Alexander's, Inc. $ALX Acquired by M&T Bank Corp

Key Points

• M&T Bank Corp established a new position in Alexander's (NYSE:ALX) in Q4, buying 277,014 shares — roughly 5.42% of the company — valued at about $60.37 million.
• Alexander's paid a quarterly dividend of $4.50 per share (annualized $18.00) for a 7.1% yield327.87%, indicating the payout may not be fully supported by earnings.
• Analysts have a consensus Hold rating on ALX after recent downgrades; the company has a market cap near $1.29 billion and a P/E of about 45.95.

M&T Bank Corp purchased a new position in Alexander's, Inc. (NYSE:ALX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 277,014 shares of the real estate investment trust's stock, valued at approximately $60,372,000. M&T Bank Corp owned about 5.42% of Alexander's as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning grew its stake in shares of Alexander's by 4.9% in the 3rd quarter. Creative Planning now owns 1,260 shares of the real estate investment trust's stock worth $296,000 after buying an additional 59 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Alexander's by 9.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 766 shares of the real estate investment trust's stock worth $173,000 after buying an additional 69 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Alexander's by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 3,784 shares of the real estate investment trust's stock worth $853,000 after buying an additional 96 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Alexander's by 89.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust's stock worth $47,000 after buying an additional 98 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Alexander's by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust's stock worth $26,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 31.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALX. Zacks Research downgraded Alexander's from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Alexander's in a research note on Monday. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

Alexander's Stock Performance

Shares of ALX opened at $252.24 on Wednesday. The business's fifty day simple moving average is $239.18 and its two-hundred day simple moving average is $231.17. The company has a current ratio of 8.36, a quick ratio of 8.36 and a debt-to-equity ratio of 7.60. Alexander's, Inc. has a 12 month low of $198.57 and a 12 month high of $260.84. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 45.95 and a beta of 0.79.

Alexander's Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Alexander's's dividend payout ratio is presently 327.87%.

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.

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