Alexander's Inc (ALX) Stock AnalysisALXAlexander's Inc

Alexander's, Inc. is a real estate investment trust (REIT). The Company is engaged in leasing, managing, developing and redeveloping its properties. It is managed by, and its properties are leased and developed by, Vornado Realty Trust (Vornado). It has around four properties in New York City, consisting of 731 Lexington Avenue, a 1,080,000 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 II, a 606,000 square foot shopping center, is located on Junction Boulevard in Queens. Flushing, a 167,000 square foot building, located on Roosevelt Avenue and Main Street in Queens, and The Alexander apartment tower, located above its Rego Park II shopping center, contains 312 units aggregating 255,000 square feet. Rego Park II center is anchored by a 145,000 square foot Costco and a 133,000 square foot Kohl's. It operates in the Real Estate sector (REAL ESTATE INVESTMENT TRUSTS industry).

Alexander's Inc (ALX) is not a good buy right now. The current price is $233.66, which is significantly above the recent analyst target of $192 set by Piper Sandler. The stock has an RSI of 15.058, indicating it is oversold, but this could also suggest continued downward pressure. Additionally, the forward P/E ratio is 35.59, which is high compared to the industry average, indicating potential overvaluation. The main risk is the recent downgrade from Piper Sandler, which indicates a lack of confidence in the stock's near-term performance.

1 analysts cover ALX: 0 rate it Buy, 1 Hold and 0 Sell.