Alexander’s (NYSE:ALX) Shares Cross Below 200 Day Moving Average – Here’s Why

Shares of Alexander’s, Inc. (NYSE:ALX) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $229.44 and traded as low as $214.80. Alexander’s shares last traded at $215.8270, with a volume of 80,019 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Zacks Research raised Alexander’s from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Alexander’s presently has an average rating of “Buy”.

Alexander’s Stock Performance

The stock’s 50-day moving average is $222.62 and its 200-day moving average is $229.44. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 30.23 and a beta of 0.82. The company has a current ratio of 10.36, a quick ratio of 10.36 and a debt-to-equity ratio of 7.69.

Alexander’s (NYSE:ALX) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.41. Alexander’s had a return on equity of 23.91% and a net margin of 16.99%.The company had revenue of $53.42 million for the quarter, compared to the consensus estimate of $51.60 million. On average, analysts predict that Alexander’s, Inc. will post 11.5 EPS for the current fiscal year.

Alexander’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 10th were given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date of this dividend was Monday, November 10th. Alexander’s’s dividend payout ratio is currently 252.10%.

Hedge Funds Weigh In On Alexander’s

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning grew its position in shares of Alexander’s by 4.9% in the 3rd quarter. Creative Planning now owns 1,260 shares of the real estate investment trust’s stock worth $296,000 after buying an additional 59 shares during the period. Daiwa Securities Group Inc. boosted its stake in Alexander’s by 9.9% during the second quarter. Daiwa Securities Group Inc. now owns 766 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 69 shares in the last quarter. Signaturefd LLC grew its holdings in Alexander’s by 37.1% in the second quarter. Signaturefd LLC now owns 270 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 73 shares during the period. Inspire Investing LLC increased its stake in shares of Alexander’s by 5.2% during the second quarter. Inspire Investing LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $390,000 after purchasing an additional 85 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Alexander’s by 2.6% during the second quarter. Rhumbline Advisers now owns 3,784 shares of the real estate investment trust’s stock valued at $853,000 after purchasing an additional 96 shares during the last quarter. 31.99% of the stock is currently owned by institutional investors.

About Alexander’s

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust (REIT), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to we, us, our, Company and Alexander’s refer to Alexander’s, Inc and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (Vornado) (NYSE: VNO).