Alexander’s (NYSE:ALX) Stock Crosses Below 200-Day Moving Average – Should You Sell?
by Sarita Garza · The Markets DailyAlexander’s, Inc. (NYSE:ALX – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $256.52 and traded as low as $247.02. Alexander’s shares last traded at $247.1950, with a volume of 36,372 shares.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Alexander’s from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Piper Sandler increased their target price on shares of Alexander’s from $190.00 to $212.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Weiss Ratings raised shares of Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Finally, Zacks Research lowered shares of Alexander’s from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Alexander’s currently has an average rating of “Hold” and an average target price of $212.00.
Get Our Latest Stock Report on ALX
Alexander’s Price Performance
The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 7.38 and a beta of 0.78. The company has a debt-to-equity ratio of 3.73, a quick ratio of 16.78 and a current ratio of 16.78. The company has a 50-day simple moving average of $262.41 and a two-hundred day simple moving average of $256.53.
Alexander’s (NYSE:ALX – Get Free Report) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported $3.02 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.02. The business had revenue of $54.71 million for the quarter, compared to the consensus estimate of $54.10 million. Alexander’s had a net margin of 79.06% and a return on equity of 123.09%. As a group, equities research analysts forecast that Alexander’s, Inc. will post 16.52 EPS for the current year.
Alexander’s Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 10th were issued a dividend of $4.50 per share. The ex-dividend date was Monday, August 10th. This represents a $18.00 dividend on an annualized basis and a yield of 7.4%. Alexander’s’s dividend payout ratio (DPR) is presently 54.46%.
Institutional Trading of Alexander’s
A number of hedge funds have recently made changes to their positions in the business. Resona Asset Management Co. Ltd. grew its position in shares of Alexander’s by 7.9% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 958 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 70 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Alexander’s by 7.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,160 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 83 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alexander’s by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 15,869 shares of the real estate investment trust’s stock valued at $3,748,000 after buying an additional 249 shares during the period. Bank of America Corp DE grew its position in Alexander’s by 11.1% during the first quarter. Bank of America Corp DE now owns 2,860 shares of the real estate investment trust’s stock worth $676,000 after buying an additional 286 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Alexander’s during the second quarter worth approximately $96,000. 31.99% of the stock is owned by institutional investors and hedge funds.
About Alexander’s
Alexander’s, Inc (NYSE: ALX) is a real estate investment trust (REIT) that owns, manages, develops and redevelops properties in the greater New York City metropolitan area. The company’s portfolio includes office, retail and residential real estate, with properties located primarily in New York City and northern New Jersey.
Its properties include mixed-use and commercial developments such as 731 Lexington Avenue in Manhattan, which includes office and retail space, as well as residential and retail properties in locations including Rego Park, Queens.