Nuveen LLC Buys New Shares in Alexander's, Inc. (NYSE:ALX)

Key Points

• Nuveen LLC purchased approximately 296,990 shares of Alexander's, Inc., valued at around $62.1 million, increasing its stake to 5.82% of the company.
• Alexander's reported $2.88 earnings per share for the last quarter, missing the consensus estimate of $3.08, with revenues of $51.59 million.
• The company recently declared a quarterly dividend of $4.50 per share, translating to an 8.0% yield, with a payout ratio of 247.25%.

Nuveen LLC bought a new stake in Alexander's, Inc. (NYSE:ALX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 296,990 shares of the real estate investment trust's stock, valued at approximately $62,118,000. Nuveen LLC owned 5.82% of Alexander's as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in Alexander's in the fourth quarter valued at $28,000. Covestor Ltd lifted its holdings in Alexander's by 4,655.6% in the first quarter. Covestor Ltd now owns 428 shares of the real estate investment trust's stock valued at $89,000 after buying an additional 419 shares during the period. Wells Fargo & Company MN increased its stake in Alexander's by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,004 shares of the real estate investment trust's stock valued at $201,000 after purchasing an additional 342 shares in the last quarter. Algert Global LLC increased its stake in Alexander's by 24.4% in the fourth quarter. Algert Global LLC now owns 1,066 shares of the real estate investment trust's stock valued at $213,000 after purchasing an additional 209 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Alexander's by 23.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,379 shares of the real estate investment trust's stock valued at $276,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 31.99% of the company's stock.

Alexander's Trading Up 2.0%

ALX opened at $225.76 on Thursday. Alexander's, Inc. has a 1-year low of $184.76 and a 1-year high of $260.84. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 6.79. The company has a market cap of $1.15 billion, a P/E ratio of 31.01 and a beta of 0.85. The company has a fifty day moving average price of $233.66 and a two-hundred day moving average price of $217.06.

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

Alexander's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be paid a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Monday, August 11th. Alexander's's payout ratio is 247.25%.

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.

Want to see what other hedge funds are holding ALX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alexander's, Inc. (NYSE:ALX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.