Alexander’s (NYSE:ALX) Sees Large Volume Increase – Here’s Why

Alexander’s, Inc. (NYSE:ALX) shares saw unusually-high trading volume on Monday . Approximately 33,667 shares traded hands during trading, a decline of 18% from the previous session’s volume of 40,959 shares.The stock last traded at $211.25 and had previously closed at $216.19.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALX. Zacks Research raised shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy”.

Alexander’s Stock Up 1.2%

The company has a quick ratio of 10.36, a current ratio of 10.36 and a debt-to-equity ratio of 7.69. The business’s 50-day moving average price is $224.56 and its 200-day moving average price is $229.53. The firm has a market capitalization of $1.10 billion, a PE ratio of 30.04 and a beta of 0.82.

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

Alexander’s Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALX. Brooklyn Investment Group acquired a new stake in shares of Alexander’s during the 1st quarter worth about $1,094,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alexander’s by 17.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,499 shares of the real estate investment trust’s stock worth $13,909,000 after acquiring an additional 9,689 shares during the last quarter. Nuveen LLC acquired a new stake in Alexander’s during the 1st quarter valued at $62,118,000. Envestnet Asset Management Inc. bought a new position in Alexander’s in the 2nd quarter valued at $223,000. Finally, Rhumbline Advisers boosted its stake in Alexander’s by 3.7% in the first quarter. Rhumbline Advisers now owns 3,688 shares of the real estate investment trust’s stock worth $771,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds 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).