Alexander’s (NYSE:ALX) Shares Break Below 200 Day Moving Average – Here’s What Happened

Shares of Alexander’s, Inc. (NYSE:ALX) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $251.94 and traded as low as $250.02. Alexander’s shares last traded at $251.9350, with a volume of 32,525 shares changing hands.

Wall Street Analyst Weigh In

ALX has been the topic of a number of analyst reports. Zacks Research cut Alexander’s from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Wall Street Zen upgraded Alexander’s from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alexander’s in a research report on Monday, November 2nd. Finally, Piper Sandler reduced their price objective on Alexander’s from $212.00 to $192.00 and set an “underweight” rating for the company in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $192.00.

Alexander’s Trading Down 0.7%

The company has a market cap of $1.27 billion, a P/E ratio of 6.67 and a beta of 0.79. The stock’s 50 day moving average is $247.41 and its 200-day moving average is $251.99. The company has a current ratio of 12.69, a quick ratio of 12.69 and a debt-to-equity ratio of 3.67.

Alexander’s (NYSE:ALX) last announced its quarterly earnings data on Monday, November 2nd. The real estate investment trust reported $5.33 EPS for the quarter, missing the consensus estimate of $8.20 by ($2.87). The firm had revenue of $72.06 million for the quarter, compared to analysts’ expectations of $82.40 million. Alexander’s had a net margin of 81.93% and a return on equity of 117.44%. Research analysts anticipate that Alexander’s, Inc. will post 15.64 earnings per share for the current fiscal year.

Alexander’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, November 9th will be paid a $4.50 dividend. This represents a $18.00 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Monday, November 9th. Alexander’s’s dividend payout ratio is currently 48.36%.

Institutional Investors Weigh In On Alexander’s

A number of institutional investors have recently made changes to their positions in ALX. Hsbc Holdings PLC purchased a new position in Alexander’s in the 2nd quarter worth approximately $1,489,000. Bank of New York Mellon Corp bought a new position in Alexander’s in the 2nd quarter valued at approximately $4,512,000. Punch & Associates Investment Management Inc. bought a new position in Alexander’s in the 1st quarter valued at approximately $4,822,000. Public Employees Retirement System of Ohio purchased a new stake in Alexander’s during the 2nd quarter valued at $672,000. Finally, Militia Capital Management LLC purchased a new stake in Alexander’s during the 1st quarter valued at $496,000. Hedge funds and other institutional investors own 31.99% of the company’s stock.

About Alexander’s

Alexander’s, Inc. is a real estate investment trust (REIT) that owns and leases commercial properties, primarily in the New York City area. Its portfolio includes office, retail and mixed-use real estate, with properties in Manhattan and Queens. The company’s properties include 731 Lexington Avenue, a mixed-use office and retail building in Manhattan, and the Rego Center shopping complex in Queens. Alexander’s focuses on leasing space to businesses and retailers rather than operating a department store chain.