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Alexander's

NYSE:ALX
Snowflake Description

Acceptable track record second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ALX
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Alexander’s, Inc. is a real estate investment trust which has seven properties in the greater New York City metropolitan area. The last earnings update was 17 days ago. More info.


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ALX Share Price and Events
7 Day Returns
1.6%
NYSE:ALX
0.2%
US REITs
-3.9%
US Market
1 Year Returns
1.3%
NYSE:ALX
13%
US REITs
1.4%
US Market
ALX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Alexander's (ALX) 1.6% 2.7% 5.4% 1.3% 4.9% 10.2%
US REITs 0.2% -1.4% 3.2% 13% 8.8% 24%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • ALX underperformed the REITs industry which returned 13% over the past year.
Price Volatility
ALX
Industry
5yr Volatility vs Market

Value

 Is Alexander's undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Alexander's to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Alexander's.

NYSE:ALX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 0 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:ALX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (48.94%))
0.824
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.824 * 5.96%)
7.64%

Discounted Cash Flow Calculation for NYSE:ALX using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for Alexander's is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Alexander's is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:ALX DCF 1st Stage: Next 10 year cash flow forecast
Funds From Operations (FFO) (USD, Millions) Source Present Value
Discounted (@ 7.64%)
2019 103.12 Est @ 3.8% 95.80
2020 106.71 Est @ 3.48% 92.10
2021 110.18 Est @ 3.26% 88.35
2022 113.59 Est @ 3.1% 84.62
2023 116.99 Est @ 2.99% 80.96
2024 120.39 Est @ 2.91% 77.41
2025 123.83 Est @ 2.86% 73.97
2026 127.32 Est @ 2.82% 70.65
2027 130.88 Est @ 2.79% 67.47
2028 134.51 Est @ 2.77% 64.42
Present value of next 10 years cash flows $795.75
NYSE:ALX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $134.51 × (1 + 2.73%) ÷ (7.64% – 2.73%)
$2,814.64
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,814.64 ÷ (1 + 7.64%)10
$1,348.08
NYSE:ALX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $795.75 + $1,348.08
$2,143.83
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,143.83 / 5.11
$419.76
NYSE:ALX Discount to Share Price
Calculation Result
Value per share (USD) From above. $419.76
Current discount Discount to share price of $389.12
= -1 x ($389.12 - $419.76) / $419.76
7.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Alexander's is available for.
Intrinsic value
7%
Share price is $389.12 vs Future cash flow value of $419.76
Current Discount Checks
For Alexander's to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Alexander's's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Alexander's's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Alexander's's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Alexander's's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:ALX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $11.81
NYSE:ALX Share Price ** NYSE (2019-05-15) in USD $389.12
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.37x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Alexander's.

NYSE:ALX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:ALX Share Price ÷ EPS (both in USD)

= 389.12 ÷ 11.81

32.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alexander's is overvalued based on earnings compared to the US REITs industry average.
  • Alexander's is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Alexander's's expected growth come at a high price?
Raw Data
NYSE:ALX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 32.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-20.7%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.91x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Alexander's, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Alexander's's assets?
Raw Data
NYSE:ALX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $54.81
NYSE:ALX Share Price * NYSE (2019-05-15) in USD $389.12
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:ALX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:ALX Share Price ÷ Book Value per Share (both in USD)

= 389.12 ÷ 54.81

7.1x

* Primary Listing of Alexander's.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alexander's is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess Alexander's's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Alexander's has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Alexander's expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Alexander's, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-20.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Alexander's expected to grow at an attractive rate?
  • Alexander's's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Alexander's's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Unable to compare Alexander's's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:ALX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:ALX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -20.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:ALX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:ALX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
NYSE:ALX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 232 85 60
2018-12-31 233 74 57
2018-09-30 233 118 65
2018-06-30 232 121 70
2018-03-31 231 119 73
2017-12-31 231 123 81
2017-09-30 230 121 84
2017-06-30 229 134 85
2017-03-31 229 127 86
2016-12-31 227 131 86
2016-09-30 223 116 88
2016-06-30 218 114 86

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Alexander's's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Alexander's is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:ALX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Alexander's Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ALX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
NYSE:ALX Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 11.81
2018-12-31 11.07
2018-09-30 12.62
2018-06-30 13.65
2018-03-31 14.26
2017-12-31 15.74
2017-09-30 16.48
2017-06-30 16.62
2017-03-31 16.84
2016-12-31 16.91
2016-09-30 17.29
2016-06-30 16.73

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Alexander's will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Alexander's's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Alexander's has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Alexander's performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Alexander's's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Alexander's's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Alexander's's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Alexander's's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Alexander's's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Alexander's Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ALX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 231.72 60.41 5.32
2018-12-31 232.83 56.64 5.34
2018-09-30 233.32 64.55 5.25
2018-06-30 232.29 69.85 5.35
2018-03-31 231.23 72.94 5.36
2017-12-31 230.57 80.51 5.25
2017-09-30 229.77 84.28 5.23
2017-06-30 228.79 85.02 5.23
2017-03-31 228.61 86.13 5.36
2016-12-31 226.94 86.48 5.44
2016-09-30 222.50 88.39 5.43
2016-06-30 217.80 85.53 5.30
2016-03-31 211.44 81.10 5.37
2015-12-31 207.92 76.91 5.41
2015-09-30 206.38 70.97 5.42
2015-06-30 204.05 70.49 5.46
2015-03-31 203.38 69.97 5.12
2014-12-31 200.81 67.40 5.03
2014-09-30 200.02 63.30 5.04
2014-06-30 199.83 59.43 5.13
2014-03-31 197.15 55.75 5.20
2013-12-31 196.46 54.66 5.03
2013-09-30 194.45 53.33 5.13
2013-06-30 193.21 51.43 5.03
2013-03-31 192.79 50.51 5.07
2012-12-31 191.31 49.44 5.16
2012-09-30 189.38 50.41 4.99
2012-06-30 187.69 51.59 5.17

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Alexander's has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Alexander's used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Alexander's has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Alexander's's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Alexander's has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Alexander's's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Alexander's's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Alexander's is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Alexander's's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Alexander's's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Alexander's Company Filings, last reported 1 month ago.

NYSE:ALX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 279.94 972.54 302.94
2018-12-31 285.09 1,161.53 283.06
2018-09-30 298.15 1,162.93 303.71
2018-06-30 306.17 1,162.63 293.84
2018-03-31 311.28 1,240.56 319.08
2017-12-31 343.96 1,240.22 307.54
2017-09-30 342.09 1,240.07 280.01
2017-06-30 345.20 1,239.73 466.46
2017-03-31 349.38 1,051.97 306.53
2016-12-31 352.85 1,052.36 288.93
2016-09-30 356.97 1,052.61 264.15
2016-06-30 358.77 1,052.84 235.75
2016-03-31 353.69 1,053.05 276.23
2015-12-31 352.88 1,053.26 259.35
2015-09-30 345.12 1,060.41 252.87
2015-06-30 343.66 1,031.21 211.23
2015-03-31 348.82 1,032.00 239.32
2014-12-31 348.40 1,027.96 227.83
2014-09-30 336.38 1,033.54 308.99
2014-06-30 336.89 1,034.29 307.98
2014-03-31 334.10 1,035.02 355.57
2013-12-31 333.58 1,049.96 347.72
2013-09-30 330.53 1,054.05 347.55
2013-06-30 333.18 1,058.03 331.87
2013-03-31 335.52 1,061.95 368.51
2012-12-31 332.15 1,065.92 353.40
2012-09-30 364.10 1,069.78 508.36
2012-06-30 363.90 1,323.53 488.78
  • Alexander's's level of debt (347.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (309.8% vs 347.4% today).
  • Debt is not well covered by operating cash flow (8.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.4x coverage).
X
Financial health checks
We assess Alexander's's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Alexander's has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Alexander's's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.63%
Current annual income from Alexander's dividends.
If you bought $2,000 of Alexander's shares you are expected to receive $93 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Alexander's's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Alexander's's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:ALX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:ALX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
NYSE:ALX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-24 18.000 4.703
2019-01-16 18.000 4.972
2018-10-24 18.000 5.781
2018-07-25 18.000 5.106
2018-04-25 18.000 4.671
2018-01-17 18.000 4.824
2017-10-25 17.000 4.218
2017-07-26 17.000 4.025
2017-04-26 17.000 4.025
2017-01-18 17.000 3.969
2016-10-26 16.000 3.832
2016-07-27 16.000 3.804
2016-05-02 16.000 4.123
2016-02-16 16.000 4.146
2015-10-29 14.000 3.665
2015-07-29 14.000 3.721
2015-04-29 14.000 3.376
2015-01-21 14.000 3.127
2014-10-29 13.000 3.043
2014-02-24 13.000 3.480
2013-10-29 11.000 3.374
2013-01-16 11.000 3.600
2012-10-31 15.000 3.755
2012-07-30 15.000 3.415
2012-05-03 15.000 3.656
2012-01-18 15.000 3.866
2011-10-31 12.000 3.168
2011-07-27 12.000 3.077
2011-04-28 12.000 2.951
2011-01-12 12.000 3.017
2010-10-27 10.000 2.495
2010-07-28 10.000 3.083
2010-04-29 10.000 3.202

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alexander's has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Alexander's only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Alexander's's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Alexander's's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Alexander's afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Alexander's has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Alexander's's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve Roth
COMPENSATION $623,964
AGE 76
TENURE AS CEO 24.2 years
CEO Bio

Mr. Steven Roth, also known as Steve, has been the Chairman of the Board and Chief Executive Officer at Vornado Realty Trust General Partner of Vornado Realty L.P. since May 1989 and April 15, 2013 respectively. From May 1989 until May 2009, Mr. Roth served as Vornado’s Chief Executive Officer. Mr. Roth has been the Chief Executive Officer of Alexander's Inc. since March 2, 1995 and Chairman since May 2004. He served as Chief Executive Officer of Vornado Realty Trust from May 1989 to May 2009. He was also a Managing General Partner of Interstate Properties and was its General Partner since 1968. He served as the Chief Executive Officer of Vornado Operating Co. from May 1998 to 2009. He has been the Chairman of the Board of JBG Smith Properties since July 2017. He served as Chairman of the Board of Vornado Operating Co. since May 1998. He serves as a Director of The Partnership for New York City, Inc. He has been a Non-Independent Trustee of Urban Edge Properties since January 14, 2015. He has been a Director of Alexander's Inc., since 1989 and Toys R US Inc., since September 12, 2005. He has been a Director of Wayne Real Estate Company, LLC since September 2005. He has been a Non-Independent Trustee of Vornado Realty Trust since 1979. He served as Director of J. C. Penney Company, Inc from February 22, 2011 to September 13, 2013. He served as Director of Capital Trust Inc. (Blackstone Mortgage Trust, Inc.) from August 1998 to June 17, 2004. Mr. Roth served as a Trustee of Verde Realty, LLC till March 1, 2010. He serves as a Trustee of the Whitney Museum of American Art, Trustee of the Intrepid Museum Foundation, Member of the Board of Directors of the Jewish Theological Seminary of America and Board member of New York University School of Medicine Foundation. He serves as a Trustee at Dartmouth College and Spinco. After service with the Army National Guard, he began his real estate career in 1965 with Kenilworth Associates. From 1981 to 1987, he served as a member of the Board of the Amos Tuck School and has endowed a professorship there. He also is the principal donor to the Roth Center for Jewish Life at Dartmouth. He served as a Trustee of the Horace Mann School. Mr. Roth received an MBA degree with Highest Distinction from Dartmouth's Amos Tuck School of Business Administration in 1963 and his AB degree from Dartmouth College in 1962. He is a graduate of DeWitt Clinton High School in the Bronx.

CEO Compensation
  • Steve's compensation has increased by more than 20% in the past year.
  • Steve's remuneration is lower than average for companies of similar size in United States of America.
Management Team

Steve Roth

TITLE
Chairman of the Board & CEO
COMPENSATION
$624K
AGE
76
TENURE
24.2 yrs

Matthew Iocco

TITLE
Chief Financial Officer
AGE
47
TENURE
2.1 yrs

Joe Macnow

TITLE
Treasurer
AGE
72

Alan Rice

TITLE
Secretary

Steve Theriot

TITLE
Assistant Treasurer
AGE
58
Board of Directors Tenure

Average tenure and age of the Alexander's board of directors in years:

24
Average Tenure
78
Average Age
  • The average tenure for the Alexander's board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Richard West

TITLE
Director
COMPENSATION
$192K
AGE
80
TENURE
35 yrs

Steve Roth

TITLE
Chairman of the Board & CEO
COMPENSATION
$624K
AGE
76
TENURE
15 yrs

Thomas DiBenedetto

TITLE
Director
COMPENSATION
$182K
AGE
69
TENURE
35 yrs

David Mandelbaum

TITLE
Director
COMPENSATION
$162K
AGE
82
TENURE
24 yrs

Arthur Sonnenblick

TITLE
Director
COMPENSATION
$176K
AGE
86
TENURE
35 yrs

Russ Wight

TITLE
Director
COMPENSATION
$161K
AGE
78
TENURE
24 yrs

Wendy Silverstein

TITLE
Director
COMPENSATION
$158K
AGE
57
TENURE
4.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Alexander's's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Alexander's has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Alexander's, Inc.'s (NYSE:ALX) 20% ROE Better Than Average?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Alexander's has a return on equity of 20% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

You May Have Been Looking At Alexander's Inc (NYSE:ALX) All Wrong

real estate investment trust (REIT) based in Paramus, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.

Simply Wall St -

Why Alexander's Inc's (NYSE:ALX) CEO Salary Matters To You

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Steve Roth's Compensation Compare With Similar Sized Companies. … A first glance this seems like a real positive for shareholders, since Steve Roth is paid less than the average compensation paid by similar sized companies.

Simply Wall St -

Investing In Property Through Alexander's Inc (NYSE:ALX)

This impacts how ALX’s business operates and also how we should analyse its stock. … REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities … These items can distort the bottom line and not necessarily reflective of ALX’s daily operations.

Simply Wall St -

How Alexander's Inc (NYSE:ALX) Delivered A Better ROE Than Its Industry

and looking to gauge the potential return on investment in Alexander's Inc (NYSE:ALX). … Alexander's Inc (NYSE:ALX) delivered an ROE of 23.43% over the past 12 months, which is an impressive feat relative to its industry average of 7.63% during the same period. … With more debt, ALX can invest even more and earn more money, thus pushing up its returns.

Simply Wall St -

3 Days Left To Alexander's Inc (NYSE:ALX)’s Ex-Dividend Date, Should You Buy?

Important news for shareholders and potential investors in Alexander's Inc (NYSE:ALX): The dividend payment of $4.5 per share will be distributed into shareholder on 18 May 2018, and the stock will begin trading ex-dividend at an earlier date, 04 May 2018. … Check out our latest analysis for Alexander's Here's how I find good dividend stocks Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Does it pay an annual yield higher than 75% of dividend payers? … Given that this is purely a dividend analysis, you should always research extensively before deciding whether or not a stock is an appropriate investment for you.

Simply Wall St -

Should You Invest In Alexander's Inc (NYSE:ALX)?

This tells us how long it will take ALX to pay off its debt using its income from its main business activities, and gives us an insight into ALX’s ability to service its borrowings. … This would take ALX 10 years to pay off using just operating income, which is a long time, and risk increases with time. … Instead of the P/E ratio, P/FFO is used instead, which is very common for REIT stocks.

Simply Wall St -

Should Alexander's Inc (NYSE:ALX) Be Part Of Your Dividend Portfolio?

Check out our latest analysis for Alexander's 5 questions to ask before buying a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is their annual yield among the top 25% of dividend payers? … Compared to its peers, Alexander's has a yield of 5.12%, which is high for REITs stocks.Next Steps: Now you know to keep in mind the reason why investors should be careful investing in Alexander's for the dividend. … Given that this is purely a dividend analysis, you should always research extensively before deciding whether or not a stock is an appropriate investment for you.

Simply Wall St -

Read This Before Buying Alexander's Inc (NYSE:ALX) For Its Upcoming $4.5 Dividend

See our latest analysis for Alexander's How I analyze a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is its annual yield among the top 25% of dividend-paying companies? … Furthermore, analysts have not forecasted a dividends per share for the future, which makes it hard to determine the yield shareholders should expect, and whether the current payout is sustainable, moving forward. … On the other hand, if you are not strictly just a dividend investor, the stock could still be offering some interesting investment opportunities.

Simply Wall St -

How Did Alexander's Inc's (ALX) 24.11% ROE Fare Against The Industry?

See our latest analysis for ALX Breaking down ROE — the mother of all ratios Return on Equity (ROE) weighs ALX’s profit against the level of its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of ALX’s equity capital deployed. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NYSE:ALX Last Perf Nov 18th 17 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

Company Info

Description

Alexander’s, Inc. is a real estate investment trust which has seven properties in the greater New York City metropolitan area.

Details
Name: Alexander's, Inc.
ALX
Exchange: NYSE
Founded: 1955
$1,987,348,684
5,107,290
Website: http://www.alx-inc.com
Address: Alexander's, Inc.
210 Route 4 East,
Paramus,
New Jersey, 07652,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE ALX Common Stock New York Stock Exchange US USD 02. Jan 1969
DB AXE Common Stock Deutsche Boerse AG DE EUR 02. Jan 1969
BST AXE Common Stock Boerse-Stuttgart DE EUR 02. Jan 1969
Number of employees
Current staff
Staff numbers
70
Alexander's employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 01:17
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2018/02/12
Last earnings filing: 2019/04/29
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.