JPMorgan Chase & Co. Increases Stake in Alexander’s, Inc. $ALX

JPMorgan Chase & Co. lifted its stake in Alexander’s, Inc. (NYSE:ALX) by 40.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,230 shares of the real estate investment trust’s stock after buying an additional 5,519 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.38% of Alexander’s worth $4,509,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in Alexander’s by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust’s stock valued at $74,284,000 after acquiring an additional 12,060 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Alexander’s by 48.3% during the 1st quarter. Jane Street Group LLC now owns 4,996 shares of the real estate investment trust’s stock valued at $1,045,000 after purchasing an additional 1,628 shares during the last quarter. Strs Ohio purchased a new position in shares of Alexander’s during the first quarter valued at about $84,000. Creative Planning grew its position in shares of Alexander’s by 17.3% during the second quarter. Creative Planning now owns 1,201 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 177 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Alexander’s by 11.4% in the second quarter. Legal & General Group Plc now owns 2,975 shares of the real estate investment trust’s stock worth $670,000 after purchasing an additional 305 shares during the last quarter. Institutional investors own 31.99% of the company’s stock.

Alexander’s Price Performance

Alexander’s stock opened at $230.56 on Friday. Alexander’s, Inc. has a 52-week low of $189.05 and a 52-week high of $260.84. The company has a quick ratio of 8.36, a current ratio of 8.36 and a debt-to-equity ratio of 7.60. The firm’s fifty day moving average is $239.41 and its 200 day moving average is $230.65. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 42.00 and a beta of 0.79.

Alexander’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a $4.50 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.8%. Alexander’s’s dividend payout ratio (DPR) is presently 327.87%.

Analyst Upgrades and Downgrades

ALX has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research report on Wednesday, January 21st. Zacks Research cut Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Alexander’s Company Profile

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.