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Alexander's Inc
NYSE:ALX

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Alexander's Inc Logo
Alexander's Inc
NYSE:ALX
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Price: 217.75 USD 0.85%
Updated: Mar 28, 2024

Intrinsic Value

Alexander's, Inc. operates as a real estate investment trust. [ Read More ]

The intrinsic value of one ALX stock under the Base Case scenario is 292.78 USD. Compared to the current market price of 217.75 USD, Alexander's Inc is Undervalued by 26%.

Key Points:
ALX Intrinsic Value
Base Case
292.78 USD
Undervaluation 26%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Alexander's Inc

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Fundamental Analysis

New York Focus and Prudent Liquidity Management
2023-Q4 Earnings Call

New York Focus and Prudent Liquidity Management

The company maintains a robust liquidity position, with $1.3 billion in cash and restricted cash, and $1.9 billion undrawn from $2.5 billion revolving credit facilities, reflecting a strong financial foundation. A strategic focus on the PENN District, with over 2.5 million square feet leased at $94 per square foot, drives future growth, underscoring a significant increase in previous achievements. The firm is actively working with lenders to extend loan maturities, indicating proactive debt management. Although the office renewal program is thriving, overall leasing might remain flat into 2024, but retail is a bright spot with strong leasing activity. Expense impacts from equity compensation plans will diminish over time, improving general and administrative efficiency. A deliberate shift to a New York-centric, office-majority portfolio is underway, with PENN District as a pivotal element in the next five years. Valuations have declined this cycle, yet occupancy around 90% suggests resilience, with retail occupancy in the mid-80s. Management emphasizes the company will not aggressively refinance at current rates and takes a conservative approach to borrowing, highlighting available liquidity from undebted assets such as PENN 1 and 2, Farley, and the Hotel Penn site. A focus on long-term, sustainable growth, prudent capital allocation, and financial discipline characterizes the firm's strategy.

Financials

Balance Sheet Decomposition
Alexander's Inc

Current Assets 662.8m
Cash & Short-Term Investments 531.9m
Receivables 130.9m
Non-Current Assets 740.9m
PP&E 650.7m
Other Non-Current Assets 90.2m
Current Liabilities 52.5m
Accounts Payable 51.8m
Other Current Liabilities 715k
Non-Current Liabilities 1.1B
Long-Term Debt 1.1B
Other Non-Current Liabilities 21m
Efficiency

Earnings Waterfall
Alexander's Inc

Revenue
225m USD
Cost of Revenue
-101.5m USD
Gross Profit
123.5m USD
Operating Expenses
-39m USD
Operating Income
84.5m USD
Other Expenses
17.9m USD
Net Income
102.4m USD

Free Cash Flow Analysis
Alexander's Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
Chart
Table
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Fundamental Scores

ALX Profitability Score
Profitability Due Diligence

Alexander's Inc's profitability score is 73/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Year Average ROE
Positive Free Cash Flow
Positive Gross Profit
Positive Net Income
73/100
Profitability
Score

Alexander's Inc's profitability score is 73/100. The higher the profitability score, the more profitable the company is.

ALX Solvency Score
Solvency Due Diligence

Alexander's Inc's solvency score is 34/100. The higher the solvency score, the more solvent the company is.

Short-Term Solvency
Long-Term Solvency
Positive Net Debt
Low Altman Z-Score
34/100
Solvency
Score

Alexander's Inc's solvency score is 34/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

ALX Price Targets Summary
Alexander's Inc

Wall Street analysts forecast ALX stock price to drop over the next 12 months.

According to Wall Street analysts, the average 1-year price target for ALX is 163.2 USD with a low forecast of 161.6 USD and a high forecast of 168 USD.

Lowest
Price Target
161.6 USD
26% Downside
Average
Price Target
163.2 USD
25% Downside
Highest
Price Target
168 USD
23% Downside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

ALX Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

ALX Price
Alexander's Inc

1M 1M
0%
6M 6M
+21%
1Y 1Y
+19%
3Y 3Y
-9%
5Y 5Y
-23%
10Y 10Y
-1%
Annual Price Range
217.75
52w Low
156.92
52w High
229.8
Price Metrics
Average Annual Return -6.72%
Standard Deviation of Annual Returns 7.29%
Max Drawdown -48%
Shares Statistics
Market Capitalization 1.1B USD
Shares Outstanding 5 107 290
Percentage of Shares Shorted 5.41%

ALX Return Decomposition
Main factors of price return

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Company Profile

Alexander's Inc Logo
Alexander's Inc

Country

United States of America

Industry

Real Estate

Market Cap

1.1B USD

Dividend Yield

8.27%

Description

Alexander's, Inc. operates as a real estate investment trust. The company is headquartered in Paramus, New Jersey and currently employs 70 full-time employees. The firm is managed by, and its properties are leased and developed by, Vornado Realty Trust. The company has six properties in the greater New York City metropolitan area consisting of 731 Lexington Avenue is an approximately 1,079,000 square foot multi-use building, comprising the entire block bounded by Lexington Avenue, East 59th Street, Third Avenue and East 58th Street in Manhattan; Rego Park I is an approximately 338,000 square foot shopping center, located on Queens Boulevard and 63rd Road in Queens; Rego Park II is an approximately 615,000 square foot shopping center, adjacent to the Rego Park I shopping center in Queens; The Alexander apartment tower, located above its Rego Park II shopping center, contains approximately 312, and Flushing is an approximately 167,000 square foot building, located on Roosevelt Avenue and Main Street in Queens.

Contact

NEW JERSEY
Paramus
210 Route 4 East
+12015878541.0
http://www.alx-inc.com/

IPO

1980-03-17

Employees

70

Officers

Chairman of the Board & CEO
Mr. Steven Roth
Chief Financial Officer
Mr. Gary W. Hansen
Secretary
Steven J. Borenstein

See Also

Discover More
What is the Intrinsic Value of one ALX stock?

The intrinsic value of one ALX stock under the Base Case scenario is 292.78 USD.

Is ALX stock undervalued or overvalued?

Compared to the current market price of 217.75 USD, Alexander's Inc is Undervalued by 26%.