Alexander’s (NYSE:ALX) Price Target Lowered to $135.00 at Piper Sandler

Alexander’s (NYSE:ALX) had its target price reduced by Piper Sandler from $145.00 to $135.00 in a report released on Monday morning, Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

Separately, StockNews.com raised shares of Alexander’s from a hold rating to a buy rating in a research report on Friday, July 12th.

Alexander’s Stock Down 0.2 %

Shares of Alexander’s stock opened at $237.16 on Monday. The firm’s 50 day moving average price is $219.98 and its 200-day moving average price is $218.44. The company has a quick ratio of 14.35, a current ratio of 14.35 and a debt-to-equity ratio of 4.75. Alexander’s has a 52-week low of $162.50 and a 52-week high of $244.51. The company has a market cap of $1.24 billion, a P/E ratio of 11.34 and a beta of 0.81.

Alexander’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 13th were given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.59%. The ex-dividend date of this dividend was Friday, May 10th. Alexander’s’s dividend payout ratio is presently 86.04%.

Institutional Trading of Alexander’s

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Alexander’s by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 326,963 shares of the real estate investment trust’s stock valued at $59,582,000 after acquiring an additional 10,513 shares during the period. SG Americas Securities LLC acquired a new stake in Alexander’s during the 4th quarter valued at approximately $115,000. Denali Advisors LLC lifted its stake in shares of Alexander’s by 11.3% in the 4th quarter. Denali Advisors LLC now owns 10,800 shares of the real estate investment trust’s stock valued at $2,307,000 after purchasing an additional 1,100 shares during the period. 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. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Alexander’s by 21.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,525 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 450 shares during the period. Hedge funds and other 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.