Alexander's, Inc. (ALX)
A real estate investment trust which is engaged in leasing, managing, developing and redeveloping its properties.
Recs
ALX owns property in NYC. The entire landscape of the city will change since thousands upon thousands of high paying jobs have completely vanished b/c of the recession and increased government regulation, as well as a liberal government that is doing its best to stifle business growth. That coupled with a company that has a 7to1 leverage ratio and couldnt make money if it tried makes me think that this stalk is way over valued. This is my one short pick for this quarter
Recs
Leveraged to the hilt in a laughably socialist and crumbling state.
Recs
Reggie Middleton
http://www.forbes.com/2009/03/01/short-stocks-middleton-personal-finance-investing-ideas_reggie.html?partner=yahootix
Recs
Already negative free cash flow is going into overdrive once commercial real estate starts to melt down. Also look how overpriced it is compared to SL Green.
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new york real estate!
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So much debt 10x the enterprize value ... Can you say bankrupt !!
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Alexanders is not a poor company, its just the wrong company in the wrong place at the wrong time in the financial take of things. Alexanders is responsible for leasing, renovating and turning over real estate, generally condominiums, and the market for condos has dried up just as quickly as the housing market has. A recent earnings take shows earnings declined 50% and they should decline further. At 10 times sales, and a staggering 30 times book, I cant see this outpacing the market in this environment.
Nero
Sagetrade
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grate ideer i give a high 5
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Out with the old, in with the new. New ideas are being brewed in real estate. New projects and devleopment around my neighborhood says enough.

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