Alexander’s, Inc. (NYSE: ALX) is a real estate investment trust (REIT) specializing in leasing, managing, developing, and redeveloping properties in New York City. As of February 7, 2025, the stock closed at $198.07, reflecting a 0.998% increase from the previous close.

Financial Performance

In 2023, Alexander’s reported revenue of $224.96 million, a 9.3% increase from $205.81 million in 2022. Net income rose by 77.7% to $102.41 million during the same period. The company’s earnings per share (EPS) stood at $20.05, resulting in a price-to-earnings (P/E) ratio of 10.6.

Dividend and Yield

The company declared a regular quarterly dividend of $4.50 per share, payable on February 28, 2025, to shareholders of record on February 18, 2025. This equates to an annualized dividend of $18.00 per share, yielding approximately 9.07% at the current stock price.

Analyst Ratings and Price Targets

Analysts have assigned a “Sell” rating to ALX, with a 12-month price target of $125.00, suggesting a potential downside of about 37%.

Valuation Metrics

The stock’s P/E ratio of 10.6 is below the finance sector average of approximately 30.58, indicating potential undervaluation. However, a price-to-book (P/B) ratio of 4.23 suggests it may be overvalued relative to its assets.

Conclusion

While Alexander’s has demonstrated strong financial performance and offers an attractive dividend yield, the “Sell” rating and lower price target from analysts warrant caution. Investors should consider these factors alongside their individual investment objectives and risk tolerance.