Alexander’s (NYSE:ALX) Sees Strong Trading Volume – Time to Buy?

Shares of Alexander’s, Inc. (NYSE:ALX) saw unusually-strong trading volume on Tuesday . Approximately 44,598 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 42,774 shares.The stock last traded at $213.07 and had previously closed at $211.93.

Analyst Upgrades and Downgrades

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

Alexander’s Trading Down 0.4%

The company has a market cap of $1.09 billion, a price-to-earnings ratio of 29.23 and a beta of 0.86. The company has a debt-to-equity ratio of 6.79, a current ratio of 9.78 and a quick ratio of 9.78. The firm’s fifty day moving average price is $227.12 and its 200-day moving average price is $229.69.

Alexander’s (NYSE:ALX) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $2.91 EPS for the quarter, topping the consensus estimate of $2.50 by $0.41. The firm had revenue of $53.42 million during the quarter, compared to analysts’ expectations of $51.60 million. Alexander’s had a net margin of 17.14% and a return on equity of 22.12%. On average, equities analysts expect that Alexander’s, Inc. will post 11.5 EPS for the current fiscal year.

Alexander’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 10th were paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date was Monday, November 10th. Alexander’s’s payout ratio is currently 252.10%.

Hedge Funds Weigh In On Alexander’s

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Alexander’s in the third quarter worth approximately $32,000. Cullen Frost Bankers Inc. boosted its stake in Alexander’s by 177.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 200 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 128 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Alexander’s by 89.1% during 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 purchasing an additional 98 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Alexander’s by 104.0% during the 3rd quarter. Larson Financial Group LLC now owns 204 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 31.99% of the company’s stock.

Alexander’s Company Profile

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust (REIT), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to we, us, our, Company and Alexander’s refer to Alexander’s, Inc and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (Vornado) (NYSE: VNO).