Alexander’s (NYSE:ALX) Share Price Passes Above 50-Day Moving Average – Here’s Why

Alexander’s, Inc. (NYSE:ALX)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $249.61 and traded as high as $263.64. Alexander’s shares last traded at $261.9420, with a volume of 17,852 shares.

Analysts Set New Price Targets

ALX has been the topic of several recent research reports. Zacks Research downgraded Alexander’s from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research report on Monday, April 20th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Alexander’s Trading Up 0.2%

The business has a 50 day simple moving average of $250.41 and a two-hundred day simple moving average of $239.34. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 9.17. The company has a market cap of $1.36 billion, a PE ratio of 66.52 and a beta of 0.78.

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

Alexander’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 11th were issued a $4.50 dividend. The ex-dividend date was Monday, May 11th. This represents a $18.00 annualized dividend and a yield of 6.8%. Alexander’s’s payout ratio is 450.00%.

Insider Buying and Selling

In other news, Director Russell B. Wight, Jr. sold 423 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $267.00, for a total transaction of $112,941.00. Following the completion of the transaction, the director owned 900 shares of the company’s stock, valued at $240,300. This represents a 31.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 26.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in Alexander’s by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 355,152 shares of the real estate investment trust’s stock worth $74,284,000 after purchasing an additional 12,060 shares during the last quarter. M&T Bank Corp purchased a new position in Alexander’s during the fourth quarter worth approximately $60,372,000. SG Americas Securities LLC boosted its holdings in shares of Alexander’s by 582.3% in the 1st quarter. SG Americas Securities LLC now owns 74,728 shares of the real estate investment trust’s stock valued at $17,651,000 after purchasing an additional 63,776 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Alexander’s by 5.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,391 shares of the real estate investment trust’s stock valued at $15,860,000 after purchasing an additional 3,892 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Alexander’s by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 57,402 shares of the real estate investment trust’s stock valued at $12,512,000 after purchasing an additional 234 shares during the last quarter. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

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.