LONDON, UK / ACCESSWIRE / January 24, 2018 / Active-Investors has a free review on Alexander's, Inc. (NYSE: ALX) following the Company's announcement that it will begin trading ex-dividend on January 26, 2018. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on January 25, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on ALX:
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Dividend Declared
On January 17, 2018, Alexander's announced that its Board of Directors has declared an increased quarterly dividend of $4.50 per share (a new indicated annual rate of $18.00). The former annual rate was $17.00 per share. The dividend will be payable on February 15, 2018, to stockholders of record on January 29, 2018.
Alexander's indicated dividend represents a yield of 4.77%, which is substantially above the average dividend yield of 4.23% for the financial sector. The Company has raised dividend for eight consecutive years.
Dividend Insights
Alexander's has a dividend payout ratio of 103.0%, which indicates that the Company distributes approximately $1.03 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
Alexander's trailing twelve months EPS totaled $16.48 per share compared to the Company's annualized dividend of $18.00 per share. One of the primary reasons for the difference between earnings and annualized dividend is that Alexander's is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.
Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization to earnings and subtracting any gains on sales which then provides a better picture of any company's profitability and capacity to pay and to sustain dividends. For instance, Alexander's net income for the quarter ended September 30, 2017, was $20.3 million, or $3.97 per diluted share, compared to $21.0 million, or $4.11 per diluted share, for the quarter ended September 30, 2016. On the other hand, the Company's FFO for the quarter ended September 30, 2017 was $28.6 million, or $5.59 per diluted share, compared to $28.9 million, or $5.66 per diluted share, for the quarter ended September 30, 2016. The FFO number indicates that the Company should be able to comfortably cover its dividend payout.
About Alexander's, Inc.
Alexander's is a REIT engaged in leasing, managing, developing, and redeveloping properties. The Company's activities are conducted through its manager, Vornado Realty Trust. Alexander's has seven properties in the greater New York City metropolitan area.
Stock Performance Snapshot
January 23, 2018 - At Tuesday's closing bell, Alexander's stock slightly rose 0.69%, ending the trading session at $380.00.
Volume traded for the day: 1.69 thousand shares.
After yesterday's close, Alexander's market cap was at $1.95 billion.
Price to Earnings (P/E) ratio was at 23.06.
The stock has a dividend yield of 4.74%.
The stock is part of the Financial sector, categorized under the REIT - Retail industry. This sector was up 0.2% at the end of the session.
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