Alexander’s (NYSE:ALX) Director Russell Wight, Jr. Sells 423 Shares

Alexander’s, Inc. (NYSE:ALX) Director Russell Wight, Jr. sold 423 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $267.00, for a total value of $112,941.00. Following the sale, the director owned 900 shares in the company, valued at approximately $240,300. This trade represents a 31.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Alexander’s Stock Up 0.7%

NYSE ALX traded up $1.99 during trading hours on Wednesday, hitting $267.83. 24,094 shares of the company were exchanged, compared to its average volume of 67,706. The company has a 50 day moving average of $244.73 and a two-hundred day moving average of $235.44. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 9.17. Alexander’s, Inc. has a 52-week low of $201.28 and a 52-week high of $271.02. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 66.96 and a beta of 0.78.

Alexander’s (NYSE:ALX) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($2.17). Alexander’s had a net margin of 9.72% and a return on equity of 17.38%. The business had revenue of $53.41 million during the quarter, compared to analysts’ expectations of $53.40 million. Equities research analysts anticipate that Alexander’s, Inc. will post 12.08 earnings per share for the current year.

Alexander’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were issued a $4.50 dividend. The ex-dividend date was Monday, May 11th. This represents a $18.00 dividend on an annualized basis and a dividend yield of 6.7%. Alexander’s’s dividend payout ratio is presently 450.00%.

Institutional Trading of Alexander’s

A number of large investors have recently made changes to their positions in the company. Covestor Ltd lifted its position in Alexander’s by 28.9% during the 4th quarter. Covestor Ltd now owns 241 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 54 shares during the period. Creative Planning lifted its position in Alexander’s by 4.9% during the 3rd quarter. Creative Planning now owns 1,260 shares of the real estate investment trust’s stock worth $296,000 after acquiring an additional 59 shares during the period. Daiwa Securities Group Inc. lifted its position in Alexander’s by 9.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 766 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 69 shares during the period. Resona Asset Management Co. Ltd. lifted its position in Alexander’s by 7.9% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 958 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 70 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Alexander’s by 7.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,160 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 83 shares during the period. 31.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research downgraded Alexander’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Alexander’s in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Alexander’s Company Profile

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.