KLP Kapitalforvaltning AS Lowers Position in Alexander's, Inc. $ALX

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in Alexander's, Inc. by 79.2% in the second quarter, ending with 500 shares valued at $113,000.
• Alexander's reported a missed earnings estimate of $2.88 per share for the previous quarter, falling short of the expected $3.08.
• The company declared a quarterly dividend of $4.50 per share, reflecting a high annualized yield of 7.8%, but it has a payout ratio of 247.25%.

KLP Kapitalforvaltning AS lessened its holdings in Alexander's, Inc. (NYSE:ALX - Free Report) by 79.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 500 shares of the real estate investment trust's stock after selling 1,900 shares during the period. KLP Kapitalforvaltning AS's holdings in Alexander's were worth $113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of Alexander's by 37.1% in the second quarter. Signaturefd LLC now owns 270 shares of the real estate investment trust's stock worth $61,000 after buying an additional 73 shares in the last quarter. Strs Ohio purchased a new stake in Alexander's during the first quarter valued at about $84,000. Covestor Ltd raised its position in Alexander's by 4,655.6% during the first quarter. Covestor Ltd now owns 428 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 419 shares in the last quarter. Resona Asset Management Co. Ltd. raised its position in Alexander's by 13.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 937 shares of the real estate investment trust's stock valued at $198,000 after purchasing an additional 113 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Alexander's during the first quarter valued at about $208,000. Hedge funds and other institutional investors own 31.99% of the company's stock.

Alexander's Stock Down 2.0%

NYSE ALX opened at $231.76 on Wednesday. The company has a debt-to-equity ratio of 6.79, a current ratio of 9.78 and a quick ratio of 9.78. The stock has a market capitalization of $1.18 billion, a PE ratio of 31.84 and a beta of 0.86. Alexander's, Inc. has a 1 year low of $184.76 and a 1 year high of $260.84. The business's 50-day moving average is $233.28 and its 200 day moving average is $226.38.

Alexander's (NYSE:ALX - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by ($0.20). The business had revenue of $51.59 million during the quarter, compared to the consensus estimate of $51.90 million. Alexander's had a return on equity of 22.12% and a net margin of 17.14%. Sell-side analysts forecast that Alexander's, Inc. will post 11.5 earnings per share for the current year.

Alexander's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Monday, August 11th. Alexander's's payout ratio is presently 247.25%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALX. Zacks Research upgraded Alexander's from a "strong sell" rating to a "hold" rating in a research report on Friday, October 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Alexander's in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold".

About Alexander's

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.

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