Alexander’s, Inc. (NYSE:ALX) Sees Significant Growth in Short Interest
by Mitch Edgeman · The Markets DailyAlexander’s, Inc. (NYSE:ALX – Get Free Report) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 358,318 shares, an increase of 21.0% from the February 26th total of 296,021 shares. Approximately 9.5% of the shares of the stock are short sold. Based on an average trading volume of 73,941 shares, the short-interest ratio is presently 4.8 days.
Alexander’s Trading Down 0.2%
Shares of Alexander’s stock traded down $0.57 during mid-day trading on Tuesday, hitting $236.34. 64,500 shares of the stock were exchanged, compared to its average volume of 88,503. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 43.05 and a beta of 0.82. Alexander’s has a twelve month low of $189.05 and a twelve month high of $260.84. The company has a current ratio of 8.36, a quick ratio of 8.36 and a debt-to-equity ratio of 7.60. The company has a 50-day simple moving average of $240.09 and a 200 day simple moving average of $230.68.
Alexander’s Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were paid a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Alexander’s’s payout ratio is presently 327.87%.
Institutional Investors Weigh In On Alexander’s
Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in Alexander’s by 625.0% in the second quarter. EverSource Wealth Advisors LLC now owns 116 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 100 shares during the period. Van ECK Associates Corp purchased a new stake in Alexander’s during the third quarter worth approximately $32,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Alexander’s in the fourth quarter worth $38,000. Tower Research Capital LLC TRC increased its position in shares of 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 raised its stake in shares of Alexander’s by 104.0% in the 3rd 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. Hedge funds and other institutional investors own 31.99% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on ALX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Alexander’s in a research note on Wednesday, January 21st. Zacks Research cut Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.
View Our Latest Stock Analysis on ALX
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.