Alexander’s (NYSE:ALX) Sees Strong Trading Volume – Here’s What Happened

Alexander’s, Inc. (NYSE:ALX) saw unusually-high trading volume on Friday . Approximately 44,573 shares were traded during trading, an increase of 1% from the previous session’s volume of 44,283 shares.The stock last traded at $217.3350 and had previously closed at $218.16.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALX. Zacks Research upgraded Alexander’s from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research note 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Alexander’s Stock Up 0.1%

The company has a current ratio of 10.36, a quick ratio of 10.36 and a debt-to-equity ratio of 7.69. The business’s 50-day simple moving average is $219.44 and its 200-day simple moving average is $228.71. The company has a market capitalization of $1.12 billion, a PE ratio of 30.58 and a beta of 0.82.

Alexander’s (NYSE:ALX) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.41. Alexander’s had a net margin of 16.99% and a return on equity of 23.91%. The firm had revenue of $53.42 million during the quarter, compared to analysts’ expectations of $51.60 million. As a group, equities research analysts anticipate that Alexander’s, Inc. will post 11.5 EPS for the current fiscal year.

Alexander’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 10th were issued a dividend of $4.50 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $18.00 dividend on an annualized basis and a yield of 8.2%. Alexander’s’s dividend payout ratio is 252.10%.

Institutional Investors Weigh In On Alexander’s

Several hedge funds have recently modified their holdings of ALX. EverSource Wealth Advisors LLC boosted its position in Alexander’s by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Alexander’s during the 3rd quarter worth approximately $32,000. Cullen Frost Bankers Inc. lifted its position in shares of Alexander’s by 177.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 200 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 128 shares in the last quarter. Larson Financial Group LLC grew its stake in Alexander’s by 104.0% in the 3rd quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 104 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in Alexander’s by 89.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 98 shares during the period. 31.99% of the stock is owned by hedge funds and other institutional investors.

About Alexander’s

Alexander’s (NYSE: ALX) is a publicly traded real estate investment trust focused on owning, leasing and managing commercial properties in the New York metropolitan area. The company’s portfolio encompasses office buildings, retail storefronts and parking facilities, all held on a wholly owned basis. By concentrating on prime urban and suburban locations, Alexander’s seeks to generate stable rental income and long-term asset appreciation.

Founded in 1928 as a family-run department store chain, Alexander’s transitioned during the early 1990s into a pure-play real estate company following the sale of its retail operations.