Alexander's: Hold On To This 8.8% Yield From New York City
ALXAlexander’s(ALX) Seeking Alpha·2024-04-22 02:56
Hammarby Studios/E+ via Getty Images Alexander's (NYSE:ALX) has maintained its dividend through the chaos of the last few years, recently declaring a quarterly cash dividend of $4.50 per share for an 8.8% dividend yield. This yield sits significantly above ALX's 5-year average yield of 4.83% with the New York City-focused REIT currently trading hands for 13.22x its fiscal 2023 FFO of $81.1 million, around $15.89 per share. This is above its peer group median by roughly 9% with ALX returning a remarkable ...