5,300 Shares in Alexander's, Inc. $ALX Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC acquired 5,300 shares of Alexander’s during the second quarter, valued at approximately $1.49 million and representing about 0.10% of the REIT. Institutional investors and hedge funds collectively own 31.99% of the company.
• Alexander’s shares opened at $249.42, down 1.5%, while the company reported quarterly earnings of $3.02 per share and revenue of $54.71 million, both slightly above analyst expectations.
• The REIT paid a quarterly dividend of $4.50 per share, equivalent to an annualized $18.00 payout and a 7.2% yield. Analyst sentiment was generally positive, with the stock carrying a “Moderate Buy” consensus rating despite a $212 average price target.

Hsbc Holdings PLC acquired a new stake in Alexander's, Inc. (NYSE:ALX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,300 shares of the real estate investment trust's stock, valued at approximately $1,489,000. Hsbc Holdings PLC owned about 0.10% of Alexander's as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of Alexander's by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust's stock valued at $74,284,000 after buying an additional 12,060 shares during the last quarter. Jane Street Group LLC grew its position in 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 valued at $1,045,000 after buying an additional 1,628 shares in the last quarter. Strs Ohio acquired a new position in Alexander's during the 1st quarter valued at about $84,000. Creative Planning raised its position in shares of Alexander's by 17.3% during the 2nd quarter. Creative Planning now owns 1,201 shares of the real estate investment trust's stock worth $271,000 after buying an additional 177 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Alexander's by 11.4% in the 2nd quarter. Legal & General Group Plc now owns 2,975 shares of the real estate investment trust's stock worth $670,000 after acquiring an additional 305 shares during the period. 31.99% of the stock is owned by institutional investors and hedge funds.

Alexander's Stock Down 1.5%

Shares of Alexander's stock opened at $249.42 on Friday. The stock's fifty day moving average is $270.10 and its 200-day moving average is $255.63. The firm has a market capitalization of $1.27 billion, a PE ratio of 7.55 and a beta of 0.78. The company has a quick ratio of 16.78, a current ratio of 16.78 and a debt-to-equity ratio of 3.73. Alexander's, Inc. has a 12-month low of $201.28 and a 12-month high of $289.43.

Alexander's (NYSE:ALX - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $3.02 earnings per share for the quarter, beating analysts' consensus estimates of $3.00 by $0.02. Alexander's had a return on equity of 123.09% and a net margin of 79.06%.The business had revenue of $54.71 million during the quarter, compared to analyst estimates of $54.10 million. Equities analysts anticipate that Alexander's, Inc. will post 16.52 earnings per share for the current year.

Alexander's Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were given a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend was Monday, August 10th. Alexander's's dividend payout ratio (DPR) is 54.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ALX shares. Weiss Ratings raised Alexander's from a "hold (c)" rating to a "buy (b)" rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded Alexander's from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Piper Sandler raised their target price on Alexander's from $190.00 to $212.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Finally, Zacks Research raised Alexander's from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $212.00.

Alexander's Profile

Alexander's, Inc NYSE: ALX is a real estate investment trust (REIT) that owns, manages, develops and redevelops properties in the greater New York City metropolitan area. The company's portfolio includes office, retail and residential real estate, with properties located primarily in New York City and northern New Jersey.

Its properties include mixed-use and commercial developments such as 731 Lexington Avenue in Manhattan, which includes office and retail space, as well as residential and retail properties in locations including Rego Park, Queens.

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