Alexander’s (NYSE:ALX) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Alexander’s, Inc. (NYSE:ALX) shares saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 56,459 shares traded hands during mid-day trading, an increase of 36% from the previous session’s volume of 41,617 shares.The stock last traded at $228.4390 and had previously closed at $224.51.

The real estate investment trust reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.41. Alexander’s had a return on equity of 22.12% and a net margin of 17.14%.The firm had revenue of $53.42 million during the quarter, compared to analyst estimates of $51.60 million.

Alexander’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 10th will be given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Monday, November 10th. Alexander’s’s dividend payout ratio (DPR) is 247.25%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALX shares. Zacks Research raised Alexander’s from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Alexander’s presently has an average rating of “Hold”.

Institutional Trading of Alexander’s

Several hedge funds and other institutional investors have recently bought and sold shares of ALX. EverSource Wealth Advisors LLC boosted its position in Alexander’s by 625.0% during the 2nd 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. Cullen Frost Bankers Inc. lifted its holdings in shares of 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 during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of 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 during the last quarter. Signaturefd LLC lifted its holdings in shares of Alexander’s by 37.1% during the 2nd quarter. Signaturefd LLC now owns 270 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 73 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Alexander’s during the 1st quarter valued at $84,000. Institutional investors own 31.99% of the company’s stock.

Alexander’s Stock Performance

The stock has a market cap of $1.18 billion, a PE ratio of 31.66 and a beta of 0.86. The company has a debt-to-equity ratio of 6.79, a quick ratio of 9.78 and a current ratio of 9.78. The firm has a fifty day moving average price of $234.10 and a 200 day moving average price of $228.55.

About Alexander’s

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).