Alexander’s, Inc. (NYSE:ALX) Sees Significant Growth in Short Interest

Alexander’s, Inc. (NYSE:ALX) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 358,318 shares, a growth of 21.0% from the February 26th total of 296,021 shares. Based on an average trading volume of 73,941 shares, the days-to-cover ratio is currently 4.8 days. Currently, 9.5% of the shares of the company are short sold.

Alexander’s Trading Down 3.6%

Shares of Alexander’s stock opened at $227.67 on Thursday. Alexander’s has a 52-week low of $189.05 and a 52-week high of $260.84. The company has a quick ratio of 8.36, a current ratio of 8.36 and a debt-to-equity ratio of 7.60. The company’s 50-day simple moving average is $239.73 and its 200-day simple moving average is $230.66. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 41.47 and a beta of 0.82.

Alexander’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend was Tuesday, February 17th. Alexander’s’s dividend payout ratio is 327.87%.

Institutional Trading of Alexander’s

A number of institutional investors have recently modified their holdings of ALX. EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 100 shares during the period. Van ECK Associates Corp acquired a new stake in Alexander’s in the third quarter valued at $32,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Alexander’s during the 4th quarter worth $38,000. Tower Research Capital LLC TRC grew its stake in shares of Alexander’s by 89.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 98 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Alexander’s by 104.0% during the 3rd quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 104 shares during the period. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ALX. Zacks Research lowered Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Alexander’s has an average rating of “Hold”.

Alexander’s Company Profile

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.