Alexander's Inc
NYSE:ALX
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%.
Valuation Backtest
Alexander's Inc
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Fundamental Analysis
New York Focus and Prudent Liquidity Management
2023-Q4 Earnings Call
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.
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 |
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
What is Free Cash Flow?
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.
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.
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
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.
Ownership
ALX Insider Trading
Buy and sell transactions by insiders
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Shareholder Return
ALX Price
Alexander's Inc
Average Annual Return | -6.72% |
Standard Deviation of Annual Returns | 7.29% |
Max Drawdown | -48% |
Market Capitalization | 1.1B USD |
Shares Outstanding | 5 107 290 |
Percentage of Shares Shorted | 5.41% |
Company Profile
Country
Industry
Market Cap
Dividend Yield
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
IPO
Employees
Officers
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%.