Alexander’s (NYSE:ALX) Price Target Cut to $135.00

Alexander’s (NYSE:ALX) had its price objective lowered by equities researchers at Piper Sandler from $145.00 to $135.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “underweight” rating on the real estate investment trust’s stock. Piper Sandler’s price objective suggests a potential downside of 44.25% from the company’s current price.

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

Alexander’s Stock Up 2.5 %

Shares of NYSE:ALX opened at $242.15 on Monday. The company has a 50 day moving average of $219.24 and a two-hundred day moving average of $218.18. Alexander’s has a 52-week low of $162.50 and a 52-week high of $243.21. The company has a quick ratio of 14.35, a current ratio of 14.35 and a debt-to-equity ratio of 4.75. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.58 and a beta of 0.81.

Hedge Funds Weigh In On Alexander’s

Several institutional investors and hedge funds have recently made changes to their positions in ALX. Goldman Sachs Group Inc. raised its holdings in Alexander’s by 19.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 351,115 shares of the real estate investment trust’s stock valued at $74,988,000 after acquiring an additional 57,951 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Alexander’s by 3.3% in 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 purchasing an additional 10,513 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Alexander’s by 220.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 9,973 shares of the real estate investment trust’s stock worth $2,130,000 after purchasing an additional 6,863 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Alexander’s during the fourth quarter worth about $459,000. Finally, Denali Advisors LLC grew its stake in Alexander’s by 19.4% in the first quarter. Denali Advisors LLC now owns 12,900 shares of the real estate investment trust’s stock worth $2,801,000 after purchasing an additional 2,100 shares in the last quarter. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

Alexander’s Company Profile

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