Alexander’s, Inc. (NYSE:ALX) Sees Significant Growth in Short Interest

Alexander’s, Inc. (NYSE:ALX) was the recipient of a large increase in short interest in 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. Based on an average daily volume of 73,941 shares, the short-interest ratio is presently 4.8 days. Approximately 9.5% of the company’s stock are short sold.

Alexander’s Stock Down 0.2%

ALX traded down $0.57 during trading on Tuesday, hitting $236.34. The company had a trading volume of 64,500 shares, compared to its average volume of 88,503. The company has a market cap of $1.21 billion, a PE ratio of 43.05 and a beta of 0.82. The business has a 50-day moving average of $240.09 and a 200-day moving average of $230.68. The company has a debt-to-equity ratio of 7.60, a current ratio of 8.36 and a quick ratio of 8.36. Alexander’s has a 1-year low of $189.05 and a 1-year high of $260.84.

Alexander’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Tuesday, February 17th. Alexander’s’s dividend payout ratio is 327.87%.

Hedge Funds Weigh In On Alexander’s

A number of hedge funds have recently bought and sold shares of ALX. EverSource Wealth Advisors LLC increased 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 last quarter. Van ECK Associates Corp bought a new position in Alexander’s during the 3rd quarter worth approximately $32,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Alexander’s in the 4th quarter worth approximately $38,000. Larson Financial Group LLC grew its position 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 worth $48,000 after acquiring an additional 104 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Alexander’s by 89.1% in the 2nd 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 last quarter. 31.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALX has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a research note on Wednesday, January 21st. Zacks Research lowered Alexander’s from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Alexander’s currently has a consensus rating of “Hold”.

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.