Bank of New York Mellon Corp Invests $4.51 Million in Alexander's, Inc. $ALX

Bank of New York Mellon Corp bought a new position in shares of Alexander's, Inc. (NYSE:ALX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,376 shares of the real estate investment trust's stock, valued at approximately $4,512,000. Bank of New York Mellon Corp owned 0.32% of Alexander's as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd boosted its stake in shares of Alexander's by 28.9% during the 4th quarter. Covestor Ltd now owns 241 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 54 shares in the last quarter. Creative Planning increased 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 valued at $296,000 after purchasing an additional 59 shares in the last quarter. Daiwa Securities Group Inc. increased 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 valued at $173,000 after purchasing an additional 69 shares in the last quarter. Resona Asset Management Co. Ltd. increased its position in shares of Alexander's by 7.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 958 shares of the real estate investment trust's stock valued at $227,000 after buying an additional 70 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Alexander's by 7.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,160 shares of the real estate investment trust's stock worth $274,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 31.99% of the company's stock.

Alexander's Stock Performance

NYSE:ALX opened at $261.90 on Friday. The company has a market cap of $1.34 billion, a P/E ratio of 7.92 and a beta of 0.78. Alexander's, Inc. has a twelve month low of $201.28 and a twelve month high of $289.43. The company's 50-day moving average price is $272.14 and its 200-day moving average price is $254.87. The company has a current ratio of 16.78, a quick ratio of 16.78 and a debt-to-equity ratio of 3.73.

Alexander's (NYSE:ALX - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.02. The company had revenue of $54.71 million during the quarter, compared to analysts' expectations of $54.10 million. Alexander's had a net margin of 79.06% and a return on equity of 123.09%. On average, sell-side analysts forecast that Alexander's, Inc. will post 16.52 earnings per share for the current fiscal year.

Alexander's Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were given a $4.50 dividend. The ex-dividend date was Monday, August 10th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 6.9%. Alexander's's dividend payout ratio is 54.46%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Alexander's

In related news, Director Russell B. Wight, Jr. sold 423 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $267.00, for a total value of $112,941.00. Following the completion of the sale, the director owned 900 shares of the company's stock, valued at approximately $240,300. This trade represents a 31.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 26.36% of the company's stock.

Alexander's Profile

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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