Alexander’s (NYSE:ALX) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Alexander’s, Inc. (NYSE:ALX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $242.16 and traded as high as $280.40. Alexander’s shares last traded at $275.43, with a volume of 18,264 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a research report on Monday, April 20th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Alexander’s Stock Performance

The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 9.17. The stock has a fifty day moving average price of $254.20 and a 200-day moving average price of $242.16. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 68.86 and a beta of 0.76.

Alexander’s (NYSE:ALX) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($2.17). Alexander’s had a return on equity of 17.38% and a net margin of 9.72%.The company had revenue of $53.41 million for the quarter, compared to analyst estimates of $53.40 million. On average, analysts expect that Alexander’s, Inc. will post 12.08 earnings per share for the current fiscal year.

Alexander’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were paid a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Monday, May 11th. Alexander’s’s dividend payout ratio (DPR) is 450.00%.

Insider Buying and Selling at Alexander’s

In other news, Director Russell B. Wight, Jr. sold 423 shares of Alexander’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total value of $112,941.00. Following the sale, the director owned 900 shares of the company’s stock, valued at $240,300. The trade was a 31.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alexander’s

A number of hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Alexander’s by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Alexander’s in the third quarter valued at approximately $32,000. Garton & Associates Financial Advisors LLC acquired a new position in Alexander’s during the fourth quarter worth $38,000. Tower Research Capital LLC TRC raised its position in Alexander’s by 89.1% in the second quarter. Tower Research Capital LLC TRC now owns 208 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 98 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Alexander’s by 104.0% in the third 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. Institutional investors and hedge funds own 31.99% of the company’s stock.

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.