Denali Advisors LLC Raises Holdings in Alexander’s, Inc. (NYSE:ALX)

Denali Advisors LLC raised its holdings in shares of Alexander’s, Inc. (NYSE:ALX) by 19.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,900 shares of the real estate investment trust’s stock after purchasing an additional 2,100 shares during the period. Denali Advisors LLC owned 0.25% of Alexander’s worth $2,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALX. PNC Financial Services Group Inc. raised its position in shares of Alexander’s by 119.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 138 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. SG Americas Securities LLC bought a new position in Alexander’s during the 4th quarter valued at approximately $115,000. Allspring Global Investments Holdings LLC bought a new position in Alexander’s during the 1st quarter valued at approximately $122,000. Quadrature Capital Ltd bought a new position in Alexander’s during the 4th quarter valued at approximately $459,000. Finally, Nomura Asset Management Co. Ltd. increased its position in Alexander’s by 3.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,390 shares of the real estate investment trust’s stock valued at $510,000 after buying an additional 80 shares in the last quarter. Institutional investors own 31.99% of the company’s stock.

Alexander’s Stock Performance

Shares of ALX stock traded up $5.32 on Wednesday, reaching $226.35. The stock had a trading volume of 10,125 shares, compared to its average volume of 9,351. The stock has a market cap of $1.16 billion, a P/E ratio of 10.59 and a beta of 0.81. Alexander’s, Inc. has a 1 year low of $162.50 and a 1 year high of $237.18. The company has a debt-to-equity ratio of 4.75, a quick ratio of 14.35 and a current ratio of 14.35. The company has a 50 day simple moving average of $215.84 and a 200 day simple moving average of $216.39.

Alexander’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 13th were paid a $4.50 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.95%. Alexander’s’s dividend payout ratio (DPR) is currently 86.04%.

Analyst Upgrades and Downgrades

ALX has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on Alexander’s from $160.00 to $145.00 and set an “underweight” rating for the company in a research report on Monday, May 13th. StockNews.com downgraded Alexander’s from a “buy” rating to a “hold” rating in a research note on Wednesday.

Alexander’s Profile

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