Alexander's, Inc. (ALX)
Real Estate · NYQ · US
Fundamentals
Valuation and ratings
Alexander's, Inc. trades at USD284.15, which is 60% above the USD113.66 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 40 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 71.0 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Alexander's, Inc.
Alexander's, Inc. is a real estate investment trust (REIT) engaged in leasing, managing, developing and redeveloping properties. Alexander's activities are conducted through its manager, Vornado Realty Trust. Alexander's has five properties in the greater New York City metropolitan area consisting of: 731 Lexington Avenue office and retail (including Bloomberg, L.P.'s world headquarters), the Rego Center complex in Rego Park, Queens, including the Rego Park I & II retail properties and The Alexander apartment tower, and a retail property located in Flushing, NY. Alexander's, Inc. was incorporated in 1928 and is based in Paramus, United States.
ALX passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
7 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Mason Hawkins, SOUTHEASTERN ASSET MANAGEMENT INC/TN/$46.77M · 1.2% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$11.92M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$6.03M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$3.37M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$2.49M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Alexander's, Inc. (ALX) undervalued?
Against our discounted cash flow estimate of USD113.66, ALX at USD284.15 is 60% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own ALX?
7 of the institutions we track reported a position in ALX in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is ALX's P/E ratio?
ALX trades at 71.0 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for ALX, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.