Alexander’s (NYSE:ALX) Stock Crosses Below 200 Day Moving Average – What’s Next?

Alexander’s, Inc. (NYSE:ALX) shares crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $256.49 and traded as low as $232.21. Alexander’s shares last traded at $233.1150, with a volume of 44,820 shares trading hands.

Wall Street Analyst Weigh In

ALX has been the topic of several recent research reports. Zacks Research cut Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. Weiss Ratings upgraded shares of Alexander’s from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Alexander’s from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Piper Sandler decreased their price objective on Alexander’s from $212.00 to $192.00 and set an “underweight” rating for the company in a report on Monday, October 12th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $192.00.

Alexander’s Stock Down 0.7%

The firm has a market capitalization of $1.22 billion, a P/E ratio of 7.21 and a beta of 0.80. The firm’s 50 day moving average is $254.13 and its two-hundred day moving average is $256.57. The company has a debt-to-equity ratio of 3.73, a current ratio of 16.78 and a quick ratio of 16.78.

Alexander’s (NYSE:ALX) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.02. The business had revenue of $54.71 million during the quarter, compared to the consensus estimate of $54.10 million. Alexander’s had a net margin of 79.06% and a return on equity of 123.09%. Research analysts predict that Alexander’s, Inc. will post 16.52 EPS for the current year.

Alexander’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 10th were issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Monday, August 10th. Alexander’s’s dividend payout ratio (DPR) is presently 54.46%.

Institutional Investors Weigh In On Alexander’s

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC increased its position in 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 acquiring an additional 63,776 shares during the period. Punch & Associates Investment Management Inc. acquired a new stake in Alexander’s during the 1st quarter valued at approximately $4,822,000. Bank of New York Mellon Corp acquired a new position in Alexander’s in the second quarter valued at $4,512,000. Hsbc Holdings PLC bought a new stake in Alexander’s in the second quarter worth approximately $1,489,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Alexander’s in the second quarter valued at $672,000. Institutional investors and hedge funds own 31.99% of the company’s stock.

About Alexander’s

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust that owns, manages and leases a portfolio of office, retail and residential properties, primarily in the New York metropolitan area. Its properties are generally located in densely populated, high-traffic locations and serve commercial tenants, retailers and residents.

The company’s portfolio includes mixed-use and office properties in Manhattan and surrounding communities. Its best-known asset is 731 Lexington Avenue, a major mixed-use development in Manhattan that includes office space, retail establishments and residential units.