Beverly Hills Private Wealth LLC Raises Stake in Alexander’s, Inc. $ALX

Beverly Hills Private Wealth LLC grew its stake in Alexander’s, Inc. (NYSE:ALX) by 13.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,286 shares of the real estate investment trust’s stock after acquiring an additional 2,332 shares during the period. Alexander’s accounts for 0.8% of Beverly Hills Private Wealth LLC’s holdings, making the stock its 23rd biggest holding. Beverly Hills Private Wealth LLC’s holdings in Alexander’s were worth $4,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ALX. Denali Advisors LLC raised its holdings in shares of Alexander’s by 7.1% in the third quarter. Denali Advisors LLC now owns 29,900 shares of the real estate investment trust’s stock valued at $7,011,000 after acquiring an additional 1,976 shares in the last quarter. JPMorgan Chase & Co. increased its position in Alexander’s by 40.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,230 shares of the real estate investment trust’s stock valued at $4,509,000 after purchasing an additional 5,519 shares during the period. Penserra Capital Management LLC raised its holdings in shares of Alexander’s by 3.5% in the 3rd quarter. Penserra Capital Management LLC now owns 4,961 shares of the real estate investment trust’s stock valued at $1,163,000 after purchasing an additional 167 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Alexander’s in the 3rd quarter valued at about $555,000. Finally, New York State Common Retirement Fund lifted its position in shares of Alexander’s by 2.1% in the 3rd quarter. New York State Common Retirement Fund now owns 9,818 shares of the real estate investment trust’s stock worth $2,302,000 after purchasing an additional 200 shares during the period. Institutional investors own 31.99% of the company’s stock.

Alexander’s Price Performance

Shares of ALX stock opened at $237.99 on Friday. Alexander’s, Inc. has a fifty-two week low of $189.05 and a fifty-two week high of $260.84. The company has a debt-to-equity ratio of 7.60, a quick ratio of 8.36 and a current ratio of 8.36. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 43.35 and a beta of 0.82. The stock’s 50-day simple moving average is $231.10 and its 200-day simple moving average is $228.35.

Alexander’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Tuesday, February 17th. Alexander’s’s payout ratio is currently 327.87%.

Analyst Ratings Changes

ALX has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, January 21st. Zacks Research upgraded Alexander’s from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

About Alexander’s

Alexander’s (NYSE: ALX) is a publicly traded real estate investment trust focused on owning, leasing and managing commercial properties in the New York metropolitan area. The company’s portfolio encompasses office buildings, retail storefronts and parking facilities, all held on a wholly owned basis. By concentrating on prime urban and suburban locations, Alexander’s seeks to generate stable rental income and long-term asset appreciation.

Founded in 1928 as a family-run department store chain, Alexander’s transitioned during the early 1990s into a pure-play real estate company following the sale of its retail operations.