Dallas, Texas 11/08/2013 (Financialstrend) – In a research note issued to investors, on November 6, 2013, Alexander’s, Inc. (NYSE:ALX) was upgraded by TheStreet from a ‘hold’ to a ‘buy’ rating. The analysts at TheStreet wrote that, the strength of the company can be seen in various areas, like, its notable return on equity, revenue growth of the company, growth in earnings per share and increasing profit margins. The analysts are of the opinion that, these strengths of the company offset the fact that it has had sub par growth in its net income.
During the trading on November 7, 2013, the shares of the company traded down by 0.44%, and closed at $306.65. 1394 shares of the company’s stock traded hands. The company has a 52 week low of $266.44 and a 52 week high of $474.75. Its market cap is $1.57 billion.
Recently, the company also announced about quarterly dividend, which is scheduled on November 22, 2013. Accordingly, investors of record date on November 8, 2013 is going to be paid a dividend of $2.75 per share, which represents a $11 annualized dividend and also a dividend yield of 3.55%. The date of ex-dividend of the company is November 6, 2013.
About Alexander’s, Inc.
It is a REIT (real estate investment trust). It is mainly engaged in managing, leasing, redeveloping and developing its properties. The company and its properties are developed and leased by, Vornado Realty Trust (Vornado). At December 31, 2012, it had total 6 properties in New York City metropolitan area containing, Rego Park I, 731 Lexington Avenue, Paramus, Flushing and Rego Park II. On November 28, 2012, it sold the Kings Plaza Regional Shopping Center which is situated in in Brooklyn, New York to The Macerich Company. The company acquired the remaining interest of 75% in the Kings Plaza energy plant joint venture, in the month of November 2012.