Alexander’s (NYSE:ALX) Sees Large Volume Increase – Still a Buy?

Alexander’s, Inc. (NYSE:ALX) saw unusually-strong trading volume on Tuesday . Approximately 16,218 shares traded hands during trading, an increase of 44% from the previous session’s volume of 11,247 shares.The stock last traded at $192.03 and had previously closed at $190.83.

Alexander’s Stock Performance

The company has a 50-day moving average of $206.49 and a 200 day moving average of $222.32. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 5.18. The firm has a market capitalization of $981.04 million, a PE ratio of 20.78 and a beta of 0.84.

Alexander’s (NYSE:ALX) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.57 by ($1.27). Alexander’s had a return on equity of 21.79% and a net margin of 20.33%. The business had revenue of $55.68 million for the quarter, compared to analysts’ expectations of $53.50 million. During the same quarter in the previous year, the firm earned $3.63 earnings per share. Equities research analysts predict that Alexander’s, Inc. will post 14.84 EPS for the current year.

Alexander’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 11th were issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 9.38%. The ex-dividend date was Friday, November 8th. Alexander’s’s payout ratio is currently 194.81%.

Institutional Investors Weigh In On Alexander’s

Several institutional investors have recently bought and sold shares of ALX. Dimensional Fund Advisors LP boosted its holdings in Alexander’s by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 34,745 shares of the real estate investment trust’s stock valued at $7,812,000 after acquiring an additional 413 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Alexander’s by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,290 shares of the real estate investment trust’s stock valued at $290,000 after acquiring an additional 86 shares during the period. SG Americas Securities LLC purchased a new stake in Alexander’s during the 3rd quarter valued at about $215,000. Inspire Investing LLC boosted its holdings in Alexander’s by 7.2% during the 3rd quarter. Inspire Investing LLC now owns 1,679 shares of the real estate investment trust’s stock valued at $407,000 after acquiring an additional 113 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in Alexander’s during the 3rd quarter valued at about $205,000. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

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).