Alexander’s (NYSE:ALX) Sees Large Volume Increase – What’s Next?

Alexander’s, Inc. (NYSE:ALX) shares saw unusually-strong trading volume on Friday . Approximately 31,693 shares traded hands during trading, a decline of 16% from the previous session’s volume of 37,707 shares.The stock last traded at $243.88 and had previously closed at $239.23.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Alexander’s Price Performance

The company has a 50 day moving average price of $233.08 and a 200 day moving average price of $224.29. The firm has a market cap of $1.24 billion, a PE ratio of 33.38 and a beta of 0.86. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 6.79.

Alexander’s (NYSE:ALX) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.20). The firm had revenue of $51.59 million for the quarter, compared to analysts’ expectations of $51.90 million. Alexander’s had a return on equity of 22.12% and a net margin of 17.14%. On average, sell-side analysts expect that Alexander’s, Inc. will post 11.5 EPS for the current year.

Alexander’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were paid a $4.50 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $18.00 dividend on an annualized basis and a yield of 7.4%. Alexander’s’s dividend payout ratio is presently 247.25%.

Institutional Investors Weigh In On Alexander’s

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in Alexander’s by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust’s stock valued at $74,284,000 after buying an additional 12,060 shares in the last quarter. Nuveen LLC purchased a new stake in Alexander’s in the 1st quarter valued at approximately $62,118,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Alexander’s by 5.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,391 shares of the real estate investment trust’s stock valued at $15,860,000 after buying an additional 3,892 shares in the last quarter. H 2 Credit Manager LP purchased a new stake in Alexander’s in the 1st quarter valued at approximately $13,663,000. Finally, Denali Advisors LLC lifted its stake in Alexander’s by 2.1% in the 1st quarter. Denali Advisors LLC now owns 29,925 shares of the real estate investment trust’s stock valued at $6,259,000 after buying an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.

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).