Alexander`s (ALX) Declares $4.50 Dividend

Alexander`s said on July 26, 2023 that its board of directors declared a regular quarterly dividend of $4.50 per share ($18.00 annualized). Previously, the company paid $4.50 per share.

Shareholders of record as of August 7, 2023 will receive the payment on August 18, 2023.

At the current share price of $192.56 / share, the stock's dividend yield is 9.35%.

Looking back five years and taking a sample every week, the average dividend yield has been 6.67%, the lowest has been 4.63%, and the highest has been 11.19%. The standard deviation of yields is 1.35 (n=236).

The current dividend yield is 1.98 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.89. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

What is the Fund Sentiment?

There are 258 funds or institutions reporting positions in Alexander`s. This is an increase of 2 owner(s) or 0.78% in the last quarter. Average portfolio weight of all funds dedicated to ALX is 0.13%, a decrease of 7.37%. Total shares owned by institutions increased in the last three months by 0.26% to 1,845K shares.

Analyst Price Forecast Suggests 20.55% Downside

As of August 2, 2023, the average one-year price target for Alexander`s is 153.00. The forecasts range from a low of 151.50 to a high of $157.50. The average price target represents a decrease of 20.55% from its latest reported closing price of 192.56.

See our leaderboard of companies with the largest price target upside.

What are Other Shareholders Doing?

Goldman Sachs Group holds 327K shares representing 6.41% ownership of the company. In it's prior filing, the firm reported owning 359K shares, representing a decrease of 9.62%. The firm decreased its portfolio allocation in ALX by 23.40% over the last quarter.

Taconic Capital Advisors holds 136K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 140K shares, representing a decrease of 2.52%. The firm increased its portfolio allocation in ALX by 48.57% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 101K shares representing 1.97% ownership of the company. In it's prior filing, the firm reported owning 102K shares, representing a decrease of 1.54%. The firm decreased its portfolio allocation in ALX by 14.42% over the last quarter.

Jpmorgan Chase holds 95K shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 100K shares, representing a decrease of 5.42%. The firm decreased its portfolio allocation in ALX by 22.82% over the last quarter.

Renaissance Technologies holds 82K shares representing 1.60% ownership of the company. In it's prior filing, the firm reported owning 84K shares, representing a decrease of 2.44%. The firm decreased its portfolio allocation in ALX by 16.63% over the last quarter.

Alexander`s Background Information
(This description is provided by the company.)

Volaris, legally Concesionaria Vuela Compañía de Aviación S.A.P.I. de C.V., is a Mexican low-cost airline based in Santa Fe, Álvaro Obregón, Mexico City with its hubs in Guadalajara, Mexico City, and Tijuana, and focus cities in Cancún, León, and Monterrey.

Additional reading:

• Alexander’s Completes Sale of Rego Park III
• Alexander’s to Sell Rego Park III
• ALEXANDER’S, INC. 2016 OMNIBUS STOCK PLAN DEFERRED STOCK UNIT GRANT AGREEMENT
• Exhibit 10.46 EXECUTION VERSION NY-2383081 AMENDMENT NO. 3 TO LOAN AGREEMENT AND OMNIBUS AMENDMENT TO LOAN DOCUMENTS THIS AMENDMENT NO. 3 TO LOAN AGREEMENT AND OMNIBUS AMENDMENT TO LOAN DOCUMENTS (this “Agreement”), dated as of October 3, 2022, is en
• Third Amendment To Amended and Restated Loan and Security Agreement

This story originally appeared on Fintel.