Alexander’s, Inc. (NYSE:ALX) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 10th will be paid a dividend of 4.50 per share by the real estate investment trust on Friday, August 21st. This represents a $18.00 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date of this dividend is Friday, August 7th.
Alexander’s has raised its dividend by an average of 12.5% per year over the last three years and has raised its dividend every year for the last 9 years. Alexander’s has a dividend payout ratio of 288.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Alexander’s to earn $17.99 per share next year, which means the company may not be able to cover its $18.00 annual dividend with an expected future payout ratio of 100.1%.
Alexander’s stock traded down $6.39 during mid-day trading on Friday, reaching $250.60. 171 shares of the company traded hands, compared to its average volume of 10,740. The company has a debt-to-equity ratio of 4.76, a current ratio of 14.99 and a quick ratio of 15.00. Alexander’s has a fifty-two week low of $223.02 and a fifty-two week high of $391.75. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 27.80 and a beta of 0.57. The firm’s fifty day moving average is $249.05 and its two-hundred day moving average is $282.82.
Alexander’s (NYSE:ALX) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $3.12 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.21). Alexander’s had a net margin of 20.92% and a return on equity of 18.36%. The business had revenue of $54.11 million during the quarter, compared to analysts’ expectations of $56.20 million. As a group, equities research analysts predict that Alexander’s will post 13.41 earnings per share for the current year.
A number of analysts recently issued reports on ALX shares. Piper Sandler downgraded shares of Alexander’s from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $300.00 to $280.00 in a report on Monday, May 4th. Zacks Investment Research raised shares of Alexander’s from a “sell” rating to a “hold” rating in a report on Tuesday, July 7th.
Alexander’s Company Profile
Alexander’s, Inc is a real estate investment trust, which engages in leasing, managing, development and redeveloping its properties. Its operating properties are located in the greater New York City metropolitan area. The company was founded on May 16, 1955 and is headquartered in Paramus, NJ.
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