Alexander’s (NYSE:ALX) Sees Large Volume Increase – Time to Buy?

Alexander’s, Inc. (NYSE:ALX) saw unusually-strong trading volume on Friday . Approximately 44,573 shares changed 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.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ALX. Weiss Ratings restated a “hold (c)” rating on shares of Alexander’s in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Alexander’s Price Performance

The firm has a fifty day moving average price of $219.78 and a two-hundred day moving average price of $228.81. The company has a quick ratio of 10.36, a current ratio of 10.36 and a debt-to-equity ratio of 7.69. The stock has a market capitalization of $1.11 billion, a P/E ratio of 30.40 and a beta of 0.82.

Alexander’s (NYSE:ALX) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.41. The business had revenue of $53.42 million during the quarter, compared to analyst estimates of $51.60 million. Alexander’s had a net margin of 16.99% and a return on equity of 23.91%. On average, analysts expect that Alexander’s, Inc. will post 11.5 EPS for the current year.

Alexander’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 10th were paid a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 8.3%. The ex-dividend date was Monday, November 10th. Alexander’s’s dividend payout ratio (DPR) is currently 252.10%.

Hedge Funds Weigh In On Alexander’s

A number of hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of Alexander’s by 3.5% in 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 acquiring an additional 12,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alexander’s by 5.9% during the second 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 acquiring an additional 3,892 shares during the last quarter. H 2 Credit Manager LP purchased a new stake in shares of Alexander’s during the 1st quarter valued at about $13,663,000. Dimensional Fund Advisors LP lifted its stake in shares of Alexander’s by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 33,201 shares of the real estate investment trust’s stock worth $7,785,000 after purchasing an additional 170 shares during the period. Finally, Denali Advisors LLC boosted its holdings in shares of Alexander’s by 7.1% in the third quarter. Denali Advisors LLC now owns 29,900 shares of the real estate investment trust’s stock worth $7,011,000 after buying an additional 1,976 shares during the last quarter. Hedge funds and other institutional investors own 31.99% of the company’s stock.

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.