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

Shares of Alexander’s, Inc. (NYSE:ALX) saw unusually-high trading volume on Thursday . Approximately 11,262 shares traded hands during mid-day trading, a decline of 4% from the previous session’s volume of 11,675 shares.The stock last traded at $218.80 and had previously closed at $215.77.

Alexander’s Stock Down 0.7 %

The stock has a 50 day moving average of $202.57 and a 200-day moving average of $215.38. The firm has a market capitalization of $1.09 billion, a P/E ratio of 25.20 and a beta of 0.83. The company has a debt-to-equity ratio of 5.59, a quick ratio of 13.18 and a current ratio of 13.18.

Alexander’s (NYSE:ALX) last posted its earnings results on Monday, February 10th. The real estate investment trust reported $4.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $0.35. Alexander’s had a return on equity of 21.45% and a net margin of 19.19%. Research analysts predict that Alexander’s, Inc. will post 11.5 earnings per share for the current fiscal year.

Alexander’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 8.44%. The ex-dividend date was Tuesday, February 18th. Alexander’s’s payout ratio is presently 212.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in Alexander’s by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 976 shares of the real estate investment trust’s stock valued at $225,000 after buying an additional 52 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Alexander’s by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,193 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 81 shares in the last quarter. Mariner LLC grew its holdings in shares of Alexander’s by 1.8% during the fourth quarter. Mariner LLC now owns 5,961 shares of the real estate investment trust’s stock worth $1,193,000 after purchasing an additional 105 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Alexander’s during the fourth quarter worth about $28,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Alexander’s by 7.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,765 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors 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).