Alexander’s (NYSE:ALX) Sees Strong Trading Volume – Should You Buy?

Alexander’s, Inc. (NYSE:ALX) shares saw an uptick in trading volume on Monday . 154,086 shares changed hands during trading, an increase of 258% from the previous session’s volume of 43,088 shares.The stock last traded at $215.13 and had previously closed at $216.52.

Wall Street Analyst Weigh In

ALX has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander’s in a research report on Wednesday, October 8th. Zacks Research raised shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Alexander’s presently has an average rating of “Buy”.

Alexander’s Stock Performance

The company has a 50-day moving average of $233.07 and a 200-day moving average of $229.95. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 29.33 and a beta of 0.86. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 6.79.

Alexander’s (NYSE:ALX) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.41. The firm had revenue of $53.42 million during the quarter, compared to analyst estimates of $51.60 million. Alexander’s had a net margin of 17.14% and a return on equity of 22.12%. On average, equities research analysts forecast that Alexander’s, Inc. will post 11.5 earnings per share for the current fiscal year.

Alexander’s Dividend Announcement

The firm 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 dividend yield of 8.5%. The ex-dividend date of this dividend is Monday, November 10th. Alexander’s’s dividend payout ratio is currently 252.10%.

Hedge Funds Weigh In On Alexander’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC bought a new position in shares of Alexander’s during the first quarter valued at approximately $293,000. Wakefield Asset Management LLLP bought a new stake in shares of Alexander’s in the 1st quarter worth approximately $1,090,000. XTX Topco Ltd acquired a new position in Alexander’s during the 1st quarter valued at approximately $324,000. Deutsche Bank AG lifted its stake in Alexander’s by 54.4% in the first quarter. Deutsche Bank AG now owns 1,746 shares of the real estate investment trust’s stock valued at $365,000 after buying an additional 615 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Alexander’s by 4,655.6% during the first quarter. Covestor Ltd now owns 428 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 419 shares during the period. 31.99% of the stock is currently owned by institutional investors and hedge funds.

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).