Alexander’s (NYSE:ALX) Rating Increased to Buy at StockNews.com

Alexander’s (NYSE:ALX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Piper Sandler reduced their price objective on shares of Alexander’s from $160.00 to $145.00 and set an “underweight” rating on the stock in a research note on Monday, May 13th.

Alexander’s Trading Down 0.2 %

ALX traded down $0.38 during trading on Friday, reaching $224.62. 12,448 shares of the company’s stock were exchanged, compared to its average volume of 9,582. The company has a current ratio of 14.35, a quick ratio of 14.35 and a debt-to-equity ratio of 4.75. Alexander’s has a one year low of $162.50 and a one year high of $237.18. The firm has a fifty day moving average price of $217.72 and a two-hundred day moving average price of $217.15. The stock has a market capitalization of $1.15 billion, a PE ratio of 10.74 and a beta of 0.81.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALX. Vanguard Group Inc. raised its stake in Alexander’s by 3.3% during the third quarter. Vanguard Group Inc. now owns 326,963 shares of the real estate investment trust’s stock worth $59,582,000 after buying an additional 10,513 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Alexander’s by 19.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 351,115 shares of the real estate investment trust’s stock worth $74,988,000 after acquiring an additional 57,951 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Alexander’s by 8.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 3,331 shares of the real estate investment trust’s stock valued at $726,000 after purchasing an additional 250 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Alexander’s during the 1st quarter valued at about $201,000. Finally, Quadrature Capital Ltd acquired a new stake in Alexander’s during the fourth quarter worth approximately $459,000. Institutional investors own 31.99% of the company’s stock.

About Alexander’s

Alexander's, Inc is a real estate investment trust which has five properties in New York City.