Alexander’s (NYSE:ALX) Sees Unusually-High Trading Volume – What’s Next?

Alexander’s, Inc. (NYSE:ALX) saw unusually-strong trading volume on Friday . Approximately 44,573 shares traded hands during trading, an increase of 1% from the previous session’s volume of 44,283 shares.The stock last traded at $217.3350 and had previously closed at $218.16.

Analysts Set New Price Targets

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

Alexander’s Stock Performance

The company has a current ratio of 10.36, a quick ratio of 10.36 and a debt-to-equity ratio of 7.69. The company has a market cap of $1.11 billion, a P/E ratio of 30.40 and a beta of 0.82. The company’s fifty day moving average is $219.78 and its 200 day moving average is $228.81.

Alexander’s (NYSE:ALX) 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, beating analysts’ consensus estimates of $2.50 by $0.41. The firm had revenue of $53.42 million for 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 analysts predict that Alexander’s, Inc. will post 11.5 earnings per share for the current fiscal year.

Alexander’s Announces Dividend

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

Institutional Investors Weigh In On Alexander’s

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake 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 worth $26,000 after acquiring an additional 100 shares during the period. Van ECK Associates Corp purchased a new position in shares of Alexander’s during the third quarter valued at about $32,000. Cullen Frost Bankers Inc. raised its stake in Alexander’s by 177.8% in the second quarter. Cullen Frost Bankers Inc. now owns 200 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 128 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 buying 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 worth $48,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 31.99% of the company’s stock.

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.