Alexander’s (NYSE:ALX) Sees Unusually-High Trading Volume – Still a Buy?

by · The Markets Daily

Alexander’s, Inc. (NYSE:ALX – Get Free Report) saw unusually-high trading volume on Friday . Approximately 54,369 shares traded hands during trading, an increase of 25% from the previous session’s volume of 43,607 shares.The stock last traded at $217.48 and had previously closed at $218.56.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Check Out Our Latest Research Report on Alexander’s

Alexander’s Price Performance

The stock has a 50 day moving average of $221.38 and a 200-day moving average of $229.24. The company has a debt-to-equity ratio of 7.69, a quick ratio of 10.36 and a current ratio of 10.36. The company has a market cap of $1.13 billion, a PE ratio of 31.05 and a beta of 0.82.

Alexander’s (NYSE:ALX – Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.41. Alexander’s had a return on equity of 23.91% and a net margin of 16.99%.The firm had revenue of $53.42 million during the quarter, compared to analysts’ expectations of $51.60 million. Equities analysts predict that Alexander’s, Inc. will post 11.5 earnings per share for the current 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 8.1%. Alexander’s’s dividend payout ratio is presently 252.10%.

Institutional Investors Weigh In On Alexander’s

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in shares of Alexander’s by 625.0% during the 2nd 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 last quarter. Van ECK Associates Corp acquired a new stake in Alexander’s during the third quarter worth about $32,000. Cullen Frost Bankers Inc. grew its holdings in Alexander’s by 177.8% during the second quarter. Cullen Frost Bankers Inc. now owns 200 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 128 shares during the period. Larson Financial Group LLC raised its position in Alexander’s by 104.0% during 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 in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings 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 valued at $47,000 after acquiring an additional 98 shares during the period. 31.99% of the stock is owned by hedge funds and other institutional investors.

Alexander’s Company Profile

(Get Free Report)

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.

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